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'£100 million offered to teams'
Formula 1's controlling shareholder is set to hand smaller teams a £100 million payment in an attempt to ward off the sport's financial crisis, it was reported on Tuesday.Three cash-strapped teams, Force India, Sauber and Lotus, had threatened to withdraw from Sunday's U.S. GP in protest at the way F1's revenues are divided, with the reports stating that the boycott was only averted after an intervention from CVC Capital Partners.According to The Times, ‘the boycott was only averted after Donald Mackenzie, chairman of CVC Capital Partners, the controlling shareholders, telephoned Gerard Lopez, the Lotus owner, in Austin to offer a compromise. Bob Fernley of Force India believes...
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