had not approved Aguri's entry. However, the team received the consent of the ten existing teams to compete and paid the US$48 million bond required as a deposit. The team was confirmed by the FIA on 26 January 2006. Between the 2005 and 2006 season the ownership of Formula One changed significantly. Until November 2005 the Formula One group was owned by an Ecclestone family trust and Speed Investments (a grouping of Bayerische Landesbank, JP Morgan Chase and Lehman Brothers). On 25 November, CVC Capital Partners announced it was to purchase both the Ecclestone shares (25% of SLEC) and Bayerische Landesbank's 48% share, held through Speed Investments. By 30 March, CVC had acquired all remaining shares and later that month the European Commission announced approval of this deal, conditional upon CVC relinquishing control of Dorna Sports, promoter of MotoGP. On 28 March CVC announced the completion of the Formula One transaction. Ecclestone reinvested proceeds of his stake into the new Formula One parent company Alpha Prema. Another Ecclestone victory involved the Grand Prix Manufacturers' Association's proposal for an alternative world championship. On 27 March, the five car manufacturers involved lodged applications for the season, reducing the likelihood of a breakaway series. On 14 May, Grand Prix Manufacturers' Association (GPMA) members confirmed they had signed a Memorandum of Understanding, a move toward signing a new Concorde Agreement. Five days later, Bernie Ecclestone and CVC Capital Partners signed a Memorandum of Understanding with the GPMA which should see the five "rebels" continue racing in Formula One at least until the 2012 season. Season report Pre-season The pre-season test was originally scheduled to be held at the Circuit de Catalunya in Barcelona, Spain from 24–26 February, but following the rescheduling of the Australian Grand Prix to avoid a clash with the 2006 Commonwealth Games in Melbourne, it was instead held at the Bahrain International Circuit in Sakhir from 3–5 March, just before the first race of the season at the same venue. Report After a disastrous season and slow start to the 2006 season Michael Schumacher won consecutive races at Imola and the Nürburgring. During the final lap of his qualifying session for the Monaco Grand Prix, Schumacher came to a stop at the La Rascasse hairpin, resulting in yellow flags, meaning that other drivers could not go at maximum speed. After the session there were immediate complaints from the other teams claiming