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Ecclestone Set to Resolve F1 Crisis by Wednesday

F1 supremo Bernie Ecclestone this weekend slammed rumors that he will be sidelined by Formula One's commercial rights holders CVC from his position within the sport, as he promised his adversaries that he will resolve all matters between the teams and the FIA in the next 2 days.

Getting sick an tired of rumors about him stepping down or teams creating a breakaway series in 2010, Ecclestone insisted that he'll get personally involved in the discussions for a new Concorde Agreement that will put an end to all conflicts inside the sport. Also, he made it very clear that he'll continue to hold an active role in leading F1 in the future, no matter the CVC's view on the matter.

Any story suggesting I'm going anywhere is completely untrue. I don't know where they came from,” said Ecclestone in an interview with British newspaper The Sunday Telegraph.

His statement was backed by Donald Mackenzie, managing partner of CVC Capital Partners, who denied rumors that the company he's currently representing is thinking of taking over the managerial duties of the 78-year old Brit. In addition, he said Ecclestone now benefits from full support from the CVC, despite his pro-Hitler saga the other week.

Bernie Ecclestone will remain in post. There's no question of moving him into an honorary position or upstairs. There has never been any doubt about (that. ((There have been no meetings to discuss it. Bernie knows me well enough to know his position is not under threat. He runs the business and does so very well,” said Mackenzie.

We did not like what he said about Hitler. He knows that and it was dealt with. That's the end of the matter. There never was anything more to it than that.”

Ecclestone expressed his hopes of signing a new Concorde Agreement by Wednesday, and therefore put an end to the breakaway rumors in Formula One.
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