Ecclestone told 'bid for Kirch stake'.

Formula One ringmaster Bernie Ecclestone has hinted that he is willing to buy back Kirch Media's stake in SLEC, but has been told to make the company a 'serious offer'.

Ecclestone has sold, in total, some 59 per cent of the holding company to the German media group but, such is the latter's current financial state, that he is now offering to buy it back - at a much reduced price.

According to the British and German press, a figure of ?500million has been tabled by the former Brabham boss, but Kirch spokesman Hartmut Schulz has responded by telling him to make a higher bid if he is serious about regaining control. Ecclestone originally sold the stake for $1.4billion, and has yet to make an official offer to repurchase it..

The return of the stake would likely ease a number of worries for both sides, as Kirch would raise some much needed capital to help bail itself out of the financial mire into which it has slipped since acquiring the F1 shares from equally troubled EM.TV, and Ecclestone would regain bargaining power with which to confront the auto manufacturers threatening a breakaway series.

The manufacturers plan to set up the Grand Prix World Championship series from 2008, concerned that Kirch will take the existing F1 to pay-per-view television. Should the Kirch stake return to Ecclestone, however, the manufacturers may be persuaded to drop their plans on condition that they can take over the running of the sport.

With Deutsche Bank already involved with trying to sort out the Kirch finances and holding a strong influence on the board of DaimlerChrysler, it has been suggested that the stake could return to the manufacturers and Ecclestone in a joint purchase between the entrepreneur and auto giant, which would allow the new major players in the sport to assume the controlling role they desire, while ensuring that Ecclestone retains a say - and financial incentive - in the sport.