Thursday March 7th, 2002

The Kirch media group is yet to receive an offer for their 58.3 percent stake of the Formula One commercial rights from the sport's carmakers despite confirmation that Bernie Ecclestone was at the Geneva Motor Show.

Ecclestone is reported to have had discussions at the show with ACEA members Fiat, Ford, Renault, BMW and DaimlerChrysler, and a source at Mercedes confirmed: "He was on our stand."

However, Kirch spokesman Hartmut Schultz revealed that the debt-laden German media group is yet to receive an offer.

"We have not received an offer from them (ACEA)," he said. "However, we are, in general, open for a new equity shareholder in Formula One, especially the carmakers."

Schultz confirmed that Kirch have had contact with the manufacturers, but the Mercedes source added: "The situation has not changed with us."

Published at 18:21:53 GMT