F1 to be floated

[Derek Smith]

According to The Sunday Times:

Bernie Ecclestone is preparing Formula One for a $10 billion flotation on a Stock Exchange in Asia to plan the sport for a future without him.

OK, so we can safely say that he's doing it to make as much money for himself.

It gets worse.

Red Bull and Ferrari will get seats on the board while McLaren and Merc will not.

Words fail me.

[Eric Mc]

Sounds like the normal Bernie corruption/kite flying behaviour.

He tried tio float F1 in 1997 (I think) but then he realised all the legal hoops he had to jump through - not to mention disclosures and restrictions on financial behaviour - he chickened out and cancelled the floatation.

[TheHeretic]

How on earth can tems be on the board? A basic conflict of interest, surely, so it should be independent.

[Derek Smith]

This was publicised on the Sky website and it was pulled.

This has all the aura of being for real.

Ferrari and RB have already signed a pre-agreement so this is not the ramblings of a demented nutter, like so many of his previous ones are. Sky are hand in glove with this.

There's a suggestion of a 10bn floatation of (part of) the commercial rights. There is, according to The Times - what could they possibly know about F1 and Sky deals - a shareholding for Ferrari.

Luca di Montezemolo is on the board as well as one for the RB president.

FOTA is dead. Betrayed many might think. There will be no negotiations for the concord agreement.

[Derek Smith]

TheHeretic said:

How on earth can tems be on the board? A basic conflict of interest, surely, so it should be independent.

There is a precedent of course, with Ferrari and that bloke who was doing an unpaid internship in the FIA.

[andy_s]

Here's the Torygraph article:

http://www.telegraph.co.uk/sport/motorsport/formul...

All he needs is a massive chair and white fluffy cat.

[Derek Smith]

andy_s said:

Here's the Torygraph article:

http://www.telegraph.co.uk/sport/motorsport/formul...

All he needs is a massive chair and white fluffy cat.

Bernie has a white fluffy dog instead. It is called Luca. it does everything it is told for scraps from his table.

FOTA forced him into the situation. He had to break it up so went for those he could buy. Not RD of course, just the ferrari boss and RB. Given the time from their resignation from FOTA until this revelation it would seem that this has come as a suprise to no one.

I'm not sure what this means for F1. Certainly having Ferrari on the board is dangerous for the sport. You only have to look back at the days when they were the favoured team of the FIA. Their nearest rival was handed a massive fine for things that other teams were doing but worse.

RB is more of a surprise. One would assume that they might well have threatened to quit if they were not allowed some influence.

This will be like Liverpool being allowed a chair on the FA together with ManU in order to stop the Premiership dropping out of the FA.

I'd really like to know what RD thiks of all this. Will he do an FW/PH and drop out by 'selling' the McL F1 team? He's had experience of when there's been an unequal playing field. It took its toll then. Is he up to it all again?

Merc is in a difficult position. Can they justify the expenditure to their unions? Losing jobs and losing influence despite powering so many cars - not the easiest of situations to sell.

Typical Bernie cycnicism but with the likes of Luca di in the sport, it gives a decent return on investment.

Bernie's in it for the short term now. He's probably selling up. He's got consdierable shares and seems intent on increasing their saleability. I wonder what would happen if RD and Merc said this was the last season for them. That might hit his pocket.

[CocoUK]

James Allen had an article last week regarding a 15% stake potentially being up for grabs, but this news is far worse! Gosh.

JA article link

[Derek Smith]

Interesting slant on the sudden removal of the article from the Sky website.

http://www.dailymail.co.uk/news/article-2117688/BS...

At least there was no compromise of editorial independence.

http://www.independent.co.uk/news/media/tv-radio/b...

Edited by Derek Smith on Tuesday 20th March 23:02

[Megaflow]

Even by Bernie's standards, there is something extremely smelly about this one...

[Derek Smith]

Megaflow said:

Even by Bernie's standards, there is something extremely smelly about this one...

It would appear that the concord agreement is dead in the water. The board will be able to dictate what they want, and the teams will have to follow.

It explains why Ferrari and RB jumped from FOTA last year. In the case of Ferrari it is so much easier to gain an advantage over the other teams without having to do all that design and mechanical stuff that other teams seem to spend so much time and money on. How much better it would be to tell others what to do.

It worked in the past.

There is much more to this than we’ve been told. There seems to be considerable Sky/BSB influence. The fact that editorial was changed is quite remarkable especially as this is one of the major arugments for the virtual monopoly that Murdoch/BSB enjoys. One might think that the Murdochs are after a seat on the board.

One thing that’s been at the back of my mind in the run up to what I thought was going to be the negotiations around the concord agreement was that there might be pressure to go for one chassis and such. Little packages, made by certain teams – the two favourites are open to argument of course but I have my suspicions – of chassis, aerodynamics, engine, transmission, that sort of thing. Ikea inspired instructions on how to put it all together and people like Newey are of no account.

The news of the floatation increased that likelihood I think. If the threat to the teams is like it or lump it then there has to be a ready supply of other teams to take their place. If Ferrari and RB are the only established ones then the rest of FOTA has a degree of authority. If all a new team has to do is buy a set of spanners from Halfords to get on the grid then FOTA is of no consequence. There would be no need for Mercedes of course.

I’m a stalwart McLaren supporter, from the time of the start of MP4. One wonders what is in it for them. They are one of the senior teams in the sport, and if you look at the many changes Ferrari have undergone in the last 20 years there is a strong argument that they are the oldest team in the pitlane now that FW/PH have stepped down. yet here they are, sidelined.

The question is whether they were asked if they wanted a seat on the board. If they weren’t then one wonders what happened to this close, friendly relationship between Ecclestone and Dennis. If they were asked then one wonders if they have made a decision about their commitment to the sport in the future.

I agree totally that there is a smell about this deal. One wonders if it is the stench of the death of F1.

________


Gribkowsky has gone quiet. There is the possibility that a deal might be made with him and the prosecutors. Cough to this and that and give us the dirt of him and him and we'll promise that the judge will only give you a suspended. This sort of thing, there is nothing illegal about it, can be presented as a victory for the state, especially when voting is coming up, and at a huge saving in cost.

Who might he put away to the authorities? Who can say. You've got to say that it might be someone who gave evidence against him. Whoever it is will probably want to divest himself of those interests that might be captured by the justice system and by tied up in red tape for a long time.

Edited by Derek Smith on Wednesday 21st March 08:19

[cragswinter]

As soon as I see Derek Smith as the last poster on a thread I have to have a look

[Eric Mc]

Same here

Probably a bit too conspiratorial to be honest. But then again, Bernie is the epitmy of a conspirator.

He makes Machiavelli look like a rank amateur.

[ArnageWRC]

cragswinter said:

As soon as I see Derek Smith as the last poster on a thread I have to have a look

Yeah, knows his onions.....and is informative.

[Rugbyman]

It appears my worst fears are coming true ... Rupe is destroying F1 and putting a puppet parade in its place all whilst we pay to watch race by race

Is this really the end of F1 as we know it ...?

[Eric Mc]

Rugbyman said:

It appears my worst fears are coming true ... Rupe is destroying F1 and putting a puppet parade in its place all whilst we pay to watch race by race

Is this really the end of F1 as we know it ...?

It is something I fear.

Perhaps it always was going to have a finite life as a "sport". It entered a trajectry in 1966 and now that trajectory is reaching its zenith. It's all downhill from here.

[harryowl]

What stopping all the other teams from buggering off and starting their own series?

[Eric Mc]

harryowl said:

What stopping all the other teams from buggering off and starting their own series?

Fear.

“always keep a-hold of Nurse, for fear of finding something worse”.

[Derek Smith]

harryowl said:

What stopping all the other teams from buggering off and starting their own series?

Nurses aside, take McLaren. Their team has a considerable 'dollar value', especialy now that they are class of the field. Next season they will be racing to a formula they had no influence on. It is risky enough as it stands but letting competitors make the rules and own the referee is not a route to success.

McLaren seel cars nowadays. They might well want their racing investment to give an ROI that will sell cars. Their sports cars. What better way of doing this than sports car racing?

The investment is much lower, the returns too at the moment, but with the FIA being a bit part player in F1 they might well be inclined to push sports cars, so to speak.

With the BBC losing F1 then there is an expertise there that might well look to other motor sports, ones that require less investment but can give lots of air time.

I used to follow both sports cars and F1, prefering the latter but still enjoying the thrill of the 'big bangers'. I remember Stewart crawling over a Lola just to get into the driving seat.

I was at Spa some years ago and a support race was historic sports cars, with a T70, Ford GT40s, a Jaguar - the crowd were entranced by them. I was in the pits at the bottom of Eau Rouge. Stunning!

[DJRC]

Christ Derek but you dont half talk some crap.

Its just one of Bernie's "putting up the balloon" ideas. Do it and see what the reaction is. That will help inform the eventual planned action, which whatever it will end up being with have had considerable Macca input.

You do love your sensationalist grand standing.