Lehman Brothers to sell Formula One stake for $1.5 billion
Bankrupt Lehman Brothers has announced the sale of its stake in Nasdaq-listed Formula One, giving it a payout of $1.5 billion from a $300 million investment. Further, former Formula One CEO Bernie Ecclestone is offloading his remaining stake for $20 million. Together, Ecclestone and his Bambino family trust have made an estimated $4.9 billion from dividends and share sale.