ST. GEORGE'S, Grenada -- The owner of a Grenada beach resort says he will no longer sell his property to Formula One driver Lewis Hamilton as originally agreed.
Issa Nichols says Time Bourke Limited, the company negotiating on Hamilton's behalf, "failed to live up to its obligations."
Nichols did not provide details in a statement released Friday. Neither he nor Time Bourke could not be reached for comment.
Hamilton's group had paid $35 million for the resort, according to a copy of the July 7 deed, but the deal apparently was not finalized.
The agreement sparked a debate because the previous administration had transferred the $15 million property on which the hotel was built to Hamilton in exchange for using his image and name.
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