Formula One Group

The 2014 Australian Grand Prix Formula One motor race posted a record loss of A$59.97m (€43.2m/$55.85m), Victoria state government officials have confirmed.

Ferrari chairman Luca di Montezemolo has ended days of speculation over his position by announcing today (Wednesday) that he will step down from his role at the Formula One motor racing team and car company.

Russian Grand Prix organisers have sold two-thirds of tickets for Sochi’s inaugural Formula One race, with promoter Sergey Vorobyev stating security remains a “priority issue” for the event.

Greece is interested in securing a Formula One grand prix, according to the motor-racing world championship’s chief executive, Bernie Ecclestone.

Experts in commercial landscape of Formula One met at SportBusiness International headquarters last month to debate the real extent to which stakeholders in the sport are achieving ROI. Will Formula E be competitive to Formula One? Is the sponsorship proposition as attractive to brands as it has been in the past? And who should replace Bernie Ecclestone when he leaves the sport? All of this, and more, was discussed in depth.

Formula One chief executive Bernie Ecclestone has vowed to continue at the helm of the motor-racing series for as long as possible after he agreed to pay $100m (€74m) to bring an end to his bribery trial.

The FIA, motorsport’s global governing body, has announced that the new Sochi Autodrom in Russia is ready to host its first Formula One grand prix race in October.

Formula One team Lotus has seen its losses widen for the year ending December 31, 2013, but has announced it is in talks with several parties over a “long term” title sponsorship deal.

BayernLB has rejected a €25m ($33.5m) settlement offer from Bernie Ecclestone in relation to the Formula One chief executive’s involvement in the 2005 sale of the German bank’s stake in the series.

Formula One chief executive Bernie Ecclestone is set to remain the figurehead of the motor-racing series after a German court today (Tuesday) dropped a bribery case against him following the 83-year-old agreeing a $100m (€73.5m) payment to end the trial.

The Victorian Coalition Government has secured a five-year extension to its Formula One race deal to ensure that Melbourne will remain the venue for the motor racing series’ season-opener through to 2020.

Formula One chief executive Bernie Ecclestone has offered to pay €25m ($34m) for the ongoing criminal case against him to be dropped, according to reports.

Elisha Chauhan asks Monza how it plans to reinvigorate the venue’s magic following Bernie Ecclestone’s threat to drop the historic track.

Azerbaijan’s government has completed a deal to host a new Formula One race in Baku from 2016, with the agreement set to address concerns over the expansion of the motor-racing series’ calendar following this week’s confirmation of a return to Mexico next year.

Mexico is set to return to the Formula One calendar for the first time in 23 years after it was announced that a five-year deal has been agreed for a round of the motor-racing series to be staged in Mexico City from 2015.

Formula One chief executive Bernie Ecclestone has denied recent reports that he is planning a takeover of the motor-racing series’ parent company Delta Topco, while organisers of the sport’s inaugural Russian Grand Prix have maintained this year’s race in Sochi remains on course despite the escalation in tension in eastern Ukraine.