Quote:
Originally Posted by Richard Casto
Are you saying that Daimler Benz and all of their holdings operate under a single set of books? That to extract the costs of the F1 team that auditors will need to look at Daimler Benz in its entirety? I expect the F1 teams operate as separate legal entities with their own set of books. Those are the only set of books that need to be examined. So for example if they are obtaining parts or services from external suppliers, then those costs needs to be accounted for. And for someone like Mercedes F1, Daimler Benz would be a supplier. So Daimler Benz doesn’t need to open their books or change their ways, but Mercedes F1 would.
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You mustn't overlook the fact the we don't know how the F1 team is funded. I suspect that Daimler Benz actually provides some funding for the team, and this is borne out somewhat because we know that the main board of Daimler had to be pushed very hard to agree to continue funding and participating in F1 when the new PU regulations were decided, and they only agreed after the team were able to predict that the new PUs would be considerably more fuel efficient.
And I would further surmise that, like Renault, their accounting does form some part of the whole group's finances. As Renault has said, we need to balance the cost of F1 against how the group is performing, and especially when they are making workers redundant in the road vehicle plants.