Chapter 285 Smith Mountain regardless of cost

Standing in front of a very short Bernie Ecclestone.

Abel knew why the actual controller of F1 seemed so confident at this time.

The reason is simple.

Because Ecclestone took advantage of the past few years when the Kirsch Group had too much time to take care of itself.

This little old man has done many tricks in F1.

For example, Bernie Ecclestone established F1 Holdings (FOH) and subdivided it into F1 Administration (FOA) and F1 Management (FOM).

Through various decentralization, let your own people serve as directors and management.

When the Kirsch Group itself was almost dead.

These operations of Bernie Ecclestone have caused the SLEC company, which was previously responsible for the promotion and operation of F1 events, to exist in name only.

This kind of subversion also caused Kirsch Group, which owns 75% of SLEC, to lose its influence in the F1 event.

This allows Bernie to firmly control the fat piece of F1 even if he only holds 25% of the shares.

So far, Ecclestone's family business, Babineau Trust, only holds a 25% stake in SELC.

But two members of the FOH board were appointed by him two years ago.

One is his Swiss lawyer Luc Argon.

The other is Argan's wife Emmanuelle.

Facing Abel and others who came to seize power aggressively, Bernie Ecclestone glared at Abel.

As long as the director position is not taken away, F1 will still belong to Bernie Ecclestone.

At this moment, Bernie had to compete with Abel for his own personal interests.

It's just that when Bernie saw the latter's calm eyes, combined with his identity, one of the founders of F1 felt a little scared.

Bernie then turned his eyes to Allen and shouted loudly to the chief core of the advisory group——

"You have nothing, no power. You are just shareholders of SLEC, and SLEC has no power. I am the general manager of FOM and FOA. These two companies decide F1 affairs. If you look at it from this perspective, F1 belongs to me.

.”

Even with the saliva spraying on his face, Alan Baker still remained calm, "Are you sure? Do you dare to say what you said again, sir?"

"Why wouldn't I dare?!" Bernie Ecclestone fumed, like an aggressive little rooster.

"But you want me to say it again, why? I don't!"

"Okay." Allen nodded, took the last step, and then said softly: "Mr. Owen, I'll leave the rest to you."

"Okay, no problem. My work will be next." Behind Allen, a middle-aged man who looked polite and wore glasses stood out.

"Mr. Bernie Ecclestone, right?"

A middle-aged white man with a very gentle appearance and a very good temperament, smiling at Bernie Eccles.

The familiar "smell" of Bernie on this man made Bernie hesitate to speak.

"Yes. Are you a lawyer? I need to call my lawyer over here!"

Bernie Ecclestone said immediately.

The elegant middle-aged white man smiled and nodded:

"Of course. No problem. But before that, Mr. Ecclestone, please allow me to introduce myself. My name is Timmy Owen, and I am a senior partner at Clifford Chance."

Bernie Ecclestone had little reaction when he heard Owen's name.

When Bernie heard the name Clifford Chance, he knew that today would be a difficult day.

Clifford Chance is one of the top five law firms in London.

It is a law firm headquartered in London, England. It was established in 1802 and has 35 offices in 25 countries around the world.

The main business of this law firm is concentrated in the fields of business and finance, debt and equity investment, capital markets, corporate mergers and acquisitions, banking and financial projects, funds and financial instruments, etc.

It happens to be very professional and relevant to today's question.

Bernie knows that talking to this group of people is the easiest way to get caught.

He stressed: "I need to notify my personal lawyer!"

"I've already said it. No problem, Mr. Ecclestone. Please inform your lawyer as soon as possible. Is it Mr. Luke Argan? It would be better for him to come over. He and his wife are also involved.

"

Timmy Owen smiles:

"But I advise you to be quick. Look here, Mr. Cavendish, the prosecutor of Paddington. He works for the Crown Prosecution Service of the United Kingdom."

"Hello." Prosecutor Cavendish said expressionlessly, "Mr. Ecclestone, you have violated a total of 38 articles including the British Commercial Code, the Financial Services and Markets Act 2000, and the British Companies Act.

Law. In the name of the Paddington District Attorney, I am issuing a special notice to you."

How could Bernie Ecclestone, whose company is headquartered in Paddington, not know Cavendish as a prosecutor?

Normally, the two of them even have a good relationship and occasionally drink coffee together.

Now Cavendish looked like this, and Bernie was angry and scared.

The little old man finally shifted his gaze from Allen, Timmy Irving and Cavendish to Abel.

"Mr. Abel Smith."

Bernie originally wanted to grit his teeth. But at this time, the little old man already knew that he could not offend the young man in front of him.

It is true that the top management of F1 Holdings is controlled by Bernie Ecclestone.

But all along, the shares of F1 Holdings are still in the hands of SELC.

No matter what Bernie does, nothing can change this.

When SELC was in the hands of the Kirsch Group, it was because the Kirsch Group was so big that they didn’t care about this aspect, and it was difficult to protect itself.

There are basically no requirements for F1 Holdings, which gives Bernie Ecclestone the greatest freedom.

Now SELC's largest shareholder has become someone else.

Bernie knew that no matter how hard he insisted on not giving in, it would be useless in the end.

If he really goes to court, he will ignore it no matter what.

Thinking of this, Bernie Ecclestone sighed.

"Why"

Bernie Ecclestone's original sadness and anger gradually subsided.

Potatoes can never touch a kitchen knife. Every British person knows this.

Bernie Ecclestone gets it too.

"Mr. Smith, I admit that F1 is yours. But Mr. Smith, I believe you won't just buy F1 just for fun, right?"

The hard one is obviously untouchable, but Bernie Ecclestone wisely chose the soft one:

"In addition, Mr. Smith, you are also the owner of two teams. If you directly control F1, those teams, car companies, and even the FIA ​​will definitely question this."

Bernie Ecclestone said very sincerely:

"Leave me. Mr. Smith, F1 was created by me. I believe that no one can manage F1 better than me. I can make a lot of money for you, Mr. Smith."

The little old man changed his fighting posture like a little rooster and looked very miserable.

With his relaxed figure, Bernie Ecclestone feels that he has the same style as he did back then.

In order to form F1 back then, Bernie went to one team after another, and then went to those automobile giants.

In the end, everything happened.

But now this scene appeared again, between himself and Abel.

Bernie felt like reincarnation for a moment.

As Bernie surrendered.

Everyone's eyes also fell on Abel, who had been silent in the middle.

Abel saw that he had achieved his goal.

In addition, what Bernie Ecclestone said actually makes sense.

Abel has already bought two teams, and now he directly buys F1 to run them.

It may really cause dissatisfaction among other team owners.

Even if someone else becomes the general manager, it won't work.

Because apart from Bernie, the founder, there are many people in F1 who can convince the public.

In fact, Abel never thought about kicking Bernie out.
To be continued...