Chapter 225 Responsibility is important
As for why Barron still cooperated with Bernie Ecclestone when he knew that he was very sophisticated, instead of directly buying the SLEC company from the three banks. What about shares?
There are naturally reasons for this. First of all, it was not only the CVC investment company that cooperated with Bernie that contacted three banks, including the Bayerische Bank, hoping to buy their shares in SLEC, but also others. The bid was not low, and in the end only CVC Investment Company succeeded. Why?
In 2013, Bernie Ecclestone was indicted by a German court on charges that he paid a bribe of 44 million to Gribkovsky, a banker who handled F1 equity transactions between 2004 and 2005. U.S. dollars helped CVC buy the equity at extremely low prices, causing the Bayerische Bank to suffer huge losses.
Gribkovsky was in charge of the sale of SLEC shares by the Bayerische Bank at the time.
Bernie did this because only CVC among several interested buyers promised to let Bernie retain control of the F1 management company.
However, in the end, the court ruled that the bribery charge was not found guilty, and Bernie paid 100 million US dollars to settle the case. The outside world accused the court of being settled by Bernie with money. Bernie said with disdain: "This is an idiot's case. The matter is finally over.”
So in order to maintain the management rights of F1, Bernie dares to use any method.
By working with him, Barron was able to buy SLEC shares from the Bayerische Bank at a lower price like CVC Investment Company, and Bernie did all the dirty work, so why not Why.
And Barron himself has no intention of actually running the commercial operations of the F1 race himself. He only needs to maintain his influence on the event.
Because in the final analysis, the development of F1 is still inseparable from Bernie Ecclestone.
Because the normal operation of F1 cannot be separated from the cooperation of the 12 F1 teams and the support of the FIA, and Bernie is the best mediator among them.
If you still want F1 to continue to develop steadily, there is really no more suitable successor than Bernie in the F1 world and the entire racing circle.
And in the final analysis, with Bernie's current age, it is impossible to control F1 for too long. When the time comes, let him leave himself a better event, how perfect.
“I have many choices, how do you want to convince me?”
Facing this young man who was half a century younger than himself, Bernie asked bluntly when the two were talking privately.
Understanding that this cunning old man was still bluffing, Barron naturally did not panic at all:
“You know, Mr. Ecclestone, I not only own a media group in England, but also I also hold shares in the Sinclair Group, which is one of the largest television broadcasting groups in the United States, so I cooperated with me to help It has great benefits for the promotion of F1, and..."
He looked at Bernie and said lightly:
"You said that you have many choices, but you can guarantee that you will buy it when you buy it. After joining SLEC, you will still be responsible for leading the commercial operations of F1. I am afraid that I will be the only one at the moment.”
It is now obvious that Bernie has not reached a cooperation with CVC Investment Company, otherwise there would be nothing to do with Barron, so he is confident in saying so.
“How do you guarantee it?”
“After the acquisition is completed, you will still be the president of this company, and as long as it does not harm our interests, we will not It will interfere with the company's operations. These can be written into the agreement."
After hearing Barron's words, Bernie Ecclestone was silent for a moment and asked expressionlessly:
"What I'm also concerned about is, can you come up with so much money now? I know that you have made several sky-high acquisitions, but they were all leveraged buyouts, which also put you on a lot of debt. You know , SLEC is a £1 billion company..."
"On this point, Mr. Ecclestone, you can rest assured that since I took the initiative to come to you today, it will not be without purpose. However, in terms of the acquisition price, as the future head of F1, you also need Show your own value..."
Barron knows that in his previous life, CVC spent more than 700 million pounds to complete the acquisition of 100% of SLEC's shares, even with some "other "The expenditure did not reach 800 million pounds.
By selling 25% of his SLEC shares this time, Bernie Ecclestone also received an income of 200 million pounds...
These funds will be determined next year After the final acquisition, it will not be difficult to get Barron out.
What he cares about is whether he can win the SLEC company with the help of Bernie Ecclestone like in his previous life.
You must know that when the American Liberty Media Group acquired this company in 2017, it spent a full US$8 billion!
Between one entry and one exit, there are huge benefits. "Then, happy cooperation."
The face smiled and extended his hand to Bernie Ecclestone. Barron also smiled and shook hands with the other party.
After reaching these tacit understandings, the conversation between Barron and Bernie Ecclestone became casual.
Of course, this inevitably brings up the topic of Bernie’s daughter, Tamarane.
With the old man's keenness, how could he not see that his daughter had a good impression of the young and handsome Duke in front of him...
This can no longer be called a good impression, Bernie even There is no doubt that with the performance of his daughter, it is possible for him to accidentally get a grandson for himself.
If his daughter could marry Barron, Bernie Ecclestone would certainly not object to their relationship.
Not only do we not oppose it, we also encourage it to happen.
But the key is that everyone in Britain knows that Barron has a girlfriend...
So during the chat, Bernie Ecclestone couldn't help but said:
"I understand. When you are young, you will enjoy yourself to the fullest, but when you reach a certain age, you will understand that responsibility is the most important..."
He looked at Barron and said meaningfully:
"Tamaran is still young, and I hope she can gradually understand this truth."
Well, after hearing the old man telling him these great truths, Barron just felt a little... weird.
However, although the old man has been eating young grass from the old cow, he will still be old-hearted when he is ninety years old...
But it is indeed just that one wife is younger than the other. After marriage, Besides, there really aren’t too many things to worry about...
“I Understand, Mr. Ecclestone, Tamaran and I are just friends, and I have always respected her very much..."
As for what will happen to her, this is what worries Barron, It's too good, so attractive, and it makes Tamaran take such initiative. What should I do?
"Have you finished talking about things? Dad, I want to talk to Barron for a while..."
When Cao Cao arrived, maybe it was because the two of them didn't seem to be talking about business, or it was simply because they were talking about business. Tired of waiting, Tamaran walked up to them and said coquettishly to the old man.
“Okay, then I’ll go talk to other people and you guys can talk.”
Before leaving, Bernie Ecclestone didn’t forget to look at Barron. One glance should be a reminder to him.
"My father didn't tell you...say something about me."
After Bernie Ecclestone left, Tamaran looked at Barron with her big eyes and asked carefully.
"No, Mr. Ecclestone was complimenting you, but most of the time, we were talking about business matters."
"F1 racing? He was satisfied This is all in my head, and I don’t even think it’s that interesting.”
(End of this chapter)