Quote:
Originally Posted by Mike Harte
Well it would be. Next accounts, to December 2016, not due until September 2017.
Unfortunately that doesn't give an accurate picture of today's situation. However, their cash position is very transitory as it relies heavily on advanced ticket sales for the upcoming GP, and the fact that Silverstone continued for a further year says something.
And I add my view that no public money should be used for the circuit. If CVC and the other shareholders of F1 hadn't drained it of all it's revenue, there would have been enough in the kitty to stop all the escalator clauses in the circuits' contracts. And now they want to sell it to a media operation that is having to borrow nearly $2 billion to fund the purchase. Madness.
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Didn't they try and preserve cash income by paying for the GP in arrears?
I concurr that no government money should go into Silverstone to go into the pockets of FOM and frankly some percentage of into wealthy teams like Mercedes and Red Bull either. They have just managed to secure £9M from local councils though for the heritage centre.