According to The Sunday Times, Bernie Ecclestone, the organiser of the Formula One car races, has agreed to sell 37.5% of his FORMULA ONE firm (which holds televised broadcasting rights for the Grand Prix) to the American company HELLMAN & FRIEDMAN for the sum of £625 million. The operation would give FORMULA ONE, for which half of the capital would remain in the hands of the businessman, the value of EUR 2.7 billion, with the remaining 15.5% being held by DEUTSCHE BANK MORGAN GRENFELL.