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Old 29 Aug 2003, 03:52 (Ref:702321)   #1
ford boy
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Any news on Briggs / 888 merge or buyout ?

Does John Briggs look like selling his team. Have not heard any news for a while.
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Old 29 Aug 2003, 04:08 (Ref:702324)   #2
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The way it works in TEGA franchise land, if an existing franchise holder wants to sell out, they must offer it first to the existing franchise holders in the category.

These franchise holders are required to make a bid no less than the one made by the 3rd party interested in buying the franchise. There is a time constraint for this offer as well, so that conclusion can be reached in the fullness of time.

As I understand it, at the Oran Park round, Briggs made application to the TEGA board that the Briggs Motorsport L1 franchise was available on the above basis, however failing that, the franchise was to be sold to TRIPLE EIGHT RACE ENGINEERING AUSTRALIA PTY LTD, and Adelaide company and related corporately to 888 in the UK

At that stage, the TEGA board had not met officially to discuss this latest development, however there were some rumoured complications.

I understand that the FPR/prodrive operation was taking a good, hard look at the franchise to purchase and run alongside their existing ex-GSR L1 franchise, as the Rod Nash L2 is to be reclaimed by the owner in 2004. I have heard no more about this particular story either.

Timing dictates that by Sandown, failing any offers and/or objections from the other franchise owners, 888 will own the Briggs Motorsport L1 franchise, accompanying equipment, and a medium-term lease on the premises.

This also assumes that the 888 operation has agreed with Betta Electrical for the continuation of the sponsorship arrangements for at least the life of the existing contract, which is not necessarily a given.

Until you see the press release proclaiming the conclusion of events, they havent had sign off from all required parties
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Old 29 Aug 2003, 04:18 (Ref:702326)   #3
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Thanks for the update GTR.
I also read in Auto Action a couple of issues ago that Briggs was committed to v8's for the long haul, but did'nt rule out a colaboration between the two.:confused:
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Old 29 Aug 2003, 04:29 (Ref:702329)   #4
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Its not a collaboration, its a buy out... but Briggs keeps the building and leases it back to 888.

Still no word whether they are switching to Holden or not, but it seems P.Brock did all the introductions for 888 to the people at Briggs. Make of that what you will
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Old 29 Aug 2003, 04:35 (Ref:702331)   #5
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Thisd also tends to show that TEGA/AVESCO and the teams want everything their own way. No new teams, no transferring of ownership outside of their own little clique.

I thought this sort of thing was illegal???
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Old 29 Aug 2003, 04:38 (Ref:702334)   #6
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I hope they stay with ford. With the loss of 00 motorsport and if 888 goes to Holdens that means 4 fords less next year which would be unfortunate.
GTR,
Has Paul Radisich extended his contract for next year yet. As John Briggs approached him a while ago to take him up on next years option in his contract.:confused:
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Old 29 Aug 2003, 04:40 (Ref:702335)   #7
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I dount it is strictly speaking illegal, but you are also right in a way.

There are constraints within the TEGA franchise system as to how many franchise licence slots a single team can own (currently 4), and there is always the immutable requirement to attend every meeting (L1) or 80% of meetings (L2).

These kinds of rules in place suggest that a purchase cant just be a buy to stop someone else from outside buying (unless they like throwing $150k per car per round in the toilet)

At the moment, despite the guff in the trade press, there are several franchises available at the right price.
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Old 29 Aug 2003, 04:51 (Ref:702340)   #8
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Just like the transfer of HRT to Skaife, the driver contract for multiple seasons is a bargaining chip and intangible asset used to jack up the price.

It is likely Radisich has been re-signed for 2004 (although not publically confirmed) while Mr Canto is not likely to be retained.

The noise around Rickard Rydell was that his drive in the enduros was an indicator for a permanent 2004 placement. Not sure how much stock to place in that one either
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Old 29 Aug 2003, 05:38 (Ref:702360)   #9
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The latest on Nash's L2 licence, it that it will be used by larry to run a third car. it was ment to be murphy but that has now fallen through, and a driver is yet to be named.
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Old 29 Aug 2003, 06:01 (Ref:702367)   #10
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I wonder if that is still the case given that the carrot of Murf was linked to the SuperCheap money now at DJR??

I understand Mr Nash wants to return to the driver's seat himself at some point as well, not sure how that can be accomodated
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Old 29 Aug 2003, 08:03 (Ref:702414)   #11
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i dont think Larry would be stupid enough to let Nash drive one of his cars. When he had his own team they tested at winton and McConville tested the same car as Rod and was 1.6 secs quicker! Rod was looking at carrera cup for awhile.
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Old 29 Aug 2003, 08:05 (Ref:702415)   #12
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Ah but Mr Nash is the CPR merchandise guru at the moment... stranger things have happened
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Old 29 Aug 2003, 12:11 (Ref:702577)   #13
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GTR, that is the first ive heard that they may be switching to Holden. Would their links with GM through Vauxhall in the UK influence this?
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Old 29 Aug 2003, 12:42 (Ref:702606)   #14
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This is what seems to be driving the school of thought towards a Holden as opposed to a Ford program.

Doesnt mean it will happen of course
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Old 29 Aug 2003, 12:50 (Ref:702618)   #15
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Why then did they not push to get hold of either HRT or Kmart. Surely they would have made a better choice to run Kmart than John Kelly. Again their links with GM would have made this ideal, would it not?
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