Bernie Ecclestone, the 12 million pound sterling man...
Discussion
C&P from;
Silverstone in the finishing straight?
http://www.telegraph.co.uk/finance/newsbysector/re...
"The sticking point in the negotiations with Silverstone has been the £12m fee which Mr Ecclestone charges for the race annually.
The fee for the British GP is lower than the average for all races of £17m and less than half the £27.6m cost for the top-paying race in Malaysia. Only two other races, in Italy and Monaco, have lower fees that Britain, so Mr Ecclestone is reluctant to reduce it further."
Bernie Ecclestone, the 12 million pound sterling man. Can he be rebuilt as a much more caring and friendly an in the future?
Silverstone in the finishing straight?
http://www.telegraph.co.uk/finance/newsbysector/re...
"The sticking point in the negotiations with Silverstone has been the £12m fee which Mr Ecclestone charges for the race annually.
The fee for the British GP is lower than the average for all races of £17m and less than half the £27.6m cost for the top-paying race in Malaysia. Only two other races, in Italy and Monaco, have lower fees that Britain, so Mr Ecclestone is reluctant to reduce it further."
Bernie Ecclestone, the 12 million pound sterling man. Can he be rebuilt as a much more caring and friendly an in the future?
Fortitude said:
C&P from;
Silverstone in the finishing straight?
http://www.telegraph.co.uk/finance/newsbysector/re...
"The sticking point in the negotiations with Silverstone has been the £12m fee which Mr Ecclestone charges for the race annually.
The fee for the British GP is lower than the average for all races of £17m and less than half the £27.6m cost for the top-paying race in Malaysia. Only two other races, in Italy and Monaco, have lower fees that Britain, so Mr Ecclestone is reluctant to reduce it further."
...is reluctant to reduce it further, to parity with Italy...", despite the fact that the UK already contributes vastly more to Formula One than Italy does.Silverstone in the finishing straight?
http://www.telegraph.co.uk/finance/newsbysector/re...
"The sticking point in the negotiations with Silverstone has been the £12m fee which Mr Ecclestone charges for the race annually.
The fee for the British GP is lower than the average for all races of £17m and less than half the £27.6m cost for the top-paying race in Malaysia. Only two other races, in Italy and Monaco, have lower fees that Britain, so Mr Ecclestone is reluctant to reduce it further."
flemke said:
Fortitude said:
C&P from;
Silverstone in the finishing straight?
http://www.telegraph.co.uk/finance/newsbysector/re...
"The sticking point in the negotiations with Silverstone has been the £12m fee which Mr Ecclestone charges for the race annually.
The fee for the British GP is lower than the average for all races of £17m and less than half the £27.6m cost for the top-paying race in Malaysia. Only two other races, in Italy and Monaco, have lower fees that Britain, so Mr Ecclestone is reluctant to reduce it further."
...is reluctant to reduce it further, to parity with Italy...", despite the fact that the UK already contributes vastly more to Formula One than Italy does.Silverstone in the finishing straight?
http://www.telegraph.co.uk/finance/newsbysector/re...
"The sticking point in the negotiations with Silverstone has been the £12m fee which Mr Ecclestone charges for the race annually.
The fee for the British GP is lower than the average for all races of £17m and less than half the £27.6m cost for the top-paying race in Malaysia. Only two other races, in Italy and Monaco, have lower fees that Britain, so Mr Ecclestone is reluctant to reduce it further."
NewMetalSystem said:
flemke said:
Fortitude said:
C&P from;
Silverstone in the finishing straight?
http://www.telegraph.co.uk/finance/newsbysector/re...
"The sticking point in the negotiations with Silverstone has been the £12m fee which Mr Ecclestone charges for the race annually.
The fee for the British GP is lower than the average for all races of £17m and less than half the £27.6m cost for the top-paying race in Malaysia. Only two other races, in Italy and Monaco, have lower fees that Britain, so Mr Ecclestone is reluctant to reduce it further."
...is reluctant to reduce it further, to parity with Italy...", despite the fact that the UK already contributes vastly more to Formula One than Italy does.Silverstone in the finishing straight?
http://www.telegraph.co.uk/finance/newsbysector/re...
"The sticking point in the negotiations with Silverstone has been the £12m fee which Mr Ecclestone charges for the race annually.
The fee for the British GP is lower than the average for all races of £17m and less than half the £27.6m cost for the top-paying race in Malaysia. Only two other races, in Italy and Monaco, have lower fees that Britain, so Mr Ecclestone is reluctant to reduce it further."
Nonetheless, and although I myself have not a shred of interest in the scum and riff-raff of Monaco, it is a fact that the Monaco GP is the focus of the Formula One commercial season, and has a greatly disproportionate effect on teams' ability to raise funding. For that reason, I'd give the place a pass, although it makes me want to puke.
Italy does not enjoy Monaco's unique status and value to the teams.
Scuffers said:
did not think it was the £12M that was the issue here?
I thought it was the +X% every year that was the problem?
Si, senor, and Bernie's "X" was not a small number. Bernie wsa looking for 7% p.a., although he has supposedly settled for 5%.I thought it was the +X% every year that was the problem?
So although the first year's fee will be £12m (I guess), the cumulative fees over 17 years would not be £204, (12x17), but a mere £310m.
Fortitude said:
Bernie Ecclestone, the 12 million pound sterling man. Can he be rebuilt as a much more caring and friendly in the future?
Seems like Bernie has been 'rebuilt' as the 11 million pound sterling man...C&P, some of the extracts:
"Silverstone Circuits Limited confirmed the 17-year deal, worth £11m a year, with an immediate £40m injection ahead of the 2010 Grand Prix at the Northamptonshire track."
"Silverstone managing director Richard Phillips said: "We've always had five-year deals and never been able to get the investment we needed to redevelop.
"But 17 years gives us the ability to invest and move forward. We've always had the belief the British Grand Prix was an important cornerstone of Formula One but, with Bernie, you're never quite sure."
"Concerns had initially been raised with regards to the terms of the contract as it was understood Ecclestone was looking for a seven per cent annual increase on an initial £12 million starting fee.
But Silverstone Circuits Ltd and the BRDC are adamant they have not agreed a deal that would ultimately bankrupt the track.
Phillips remarked: "The details have been much better negotiated than previously. This one is well thought through."
http://www.telegraph.co.uk/sport/motorsport/formul...
zac510 said:
I think Monaco contributes a lot in the sense that there are a lot of the public worldwide that stand up and pay attention when the Monaco GP is on, knowing its history and prestige. That's good for F1's reputation.
I agree with that ye, Monaco is a great stage for F1. @ the end of the day it is a business Bernie is running they negotiate for a reason, i don't think there was too much too worry about really.Forums | General Motorsport | Top of Page | What's New | My Stuff