By The Offsider
November 26 2009
German car magazine Auto Motor und Sport is reporting that after the serious doubts of Qadbak solvency, a group of American investors would take Qadbak's place. Apparently Bernie Ecclestone is very keen on the move.
We had already reported earlier this month (here) about fresh concerns about Qadbak, with financial issues emerging in their other sporting investment, English football team Notts County and the dubious "character" Rusell King. So this comes as no surprise, but things are still very unclear and it may end up being the case that Qadbak buy out does work out.
As for the possible American investors, it is said that they are well known -unlike Qadbak-. We shall see...
On a final note it is "funny" that this emerges today, a day after Dubai announced it's incapacity to pay its debts, which has caused a major blow in the stock markets all around the world. A sign that the spectacular growing of the mid-East petrol countries is not as strong as it is usually said, as in the end it is based on a similar model to the one that created the financial crisis. Dubai's declared debts are close to $80.000m.
