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Old 25 Apr 2016, 18:06 (Ref:3636307)   #46
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Originally Posted by Mike Harte View Post
The problem that F1 has with Mallya, as with Mr E before, is that although they may be accused of economic crimes, no court has yet found them guilty of anything. The only thing economical that the courts in the UK could find about BCE was his truthfulness, whilst his payment into the court in Germany ensured that they didn't find anything at all.
does the FIA require a criminal conviction to ban someone from the sport though?

at the least i think its fair to say that ,right or wrong, BE's level of importance to the sport places him in a different category to VM.

slightly different comparison in that Flav and Symonds misdeeds were directly related to a motorsports race but the FIA didnt require a criminal conviction to hand down their bans.

if the Indian courts rule against VM in his absence and seek to place liens and appropriate his property, which is looking increasingly likely, what happens if and when they try to take hold of his F1 assets? is the sport supposed to wait for that to happen first?

surely everything is shielded and protected through a myriad of shell corporations but the perception will taint F1 regardless and that is exactly the type of thing which people have become fed up with.

in all likelihood FOM, CVC, FIA will do nothing proactively and will wait for the PR fallout before they do anything, if they even want to do anything at all.

for me though it would be nice if they did do something proactively for a change and really it costs them nothing to look to exclude VM and may even help them to build up some goodwill among the fans they are currently bleeding away.
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Old 25 Apr 2016, 18:43 (Ref:3636318)   #47
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I hear what you are saying, chillibowl, but if the FIA steps in to the Mallya problem, who is it going to benefit?

His chum Roy is behind bars in India and has to find about a $1 billion that the authorities there want as a surety for bail. The problem faces is that he can't raise the cash because the very fact that he is desperate is forcing the price that buyers are prepared to pay for his assets right down. Sahara, which is Roy, own some prize assets such as hotels that would normally have suitors fighting over. In this instance, the best offers are only about a third of a fairly lowly valuation.

I don't think that there would be many suitors for Force India at the moment, and I don't think that Mallya or Roy are in a position to sell.
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Old 25 Apr 2016, 21:06 (Ref:3636347)   #48
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fair point...who would it benefit? other then my indignation of course.

the wider public's perception of the sport is one thing but with no certainty can i attest to how that translates over to viewing numbers.

many wont care, others will chalk it up to business as usual, but one has to think that these types of scandals still have a negative affect.

so i would say the benefit would be to F1, its fans and its sponsors who dont want to risk becoming more associated with the culture of the super rich while trying to sell consumer goods to us fans.

that Mallya and Roy cant get an equitable return on their f1 investment is not a big concern for me although i would think that selling now at a lower price today and having a chance to keep some of that money is still better then waiting for a sale conducted by the Indian gov't who will no doubt want to keep all of the money for themselves.

anyways, i think we agree with the fact that the guy is a clown. just no sure what the best way to go about getting rid of him is though.
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Old 25 Apr 2016, 21:36 (Ref:3636357)   #49
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fair point...who would it benefit? other then my indignation of course.
Baking soda or something like Gaviscom would help you with that ailment.
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Old 25 Apr 2016, 21:58 (Ref:3636363)   #50
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Baking soda or something like Gaviscom would help you with that ailment.
haha!

i find complaining about things here is all the relief i need.
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Old 26 Apr 2016, 08:48 (Ref:3636419)   #51
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If they can finally get hold of VJM I think creditors will chase around the world after assets and it depends how they are all structured. As Mike says it is all well and good having assets but if they can't be realised or only sold undervalued then generally there are no winners.

This has been rumbling along for several years and it has taken this long to get to where they are with VJM, wherever that is!
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Old 26 Apr 2016, 09:06 (Ref:3636423)   #52
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He's got $quillions in assets all over the world....http://www.bornrich.com/vijay-mallya.html

If he's smart he will another passport from some country of convenience.
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Old 26 Apr 2016, 09:47 (Ref:3636426)   #53
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He's got $quillions in assets all over the world....http://www.bornrich.com/vijay-mallya.html

If he's smart he will another passport from some country of convenience.
I don't know when that article was written, but it is hopelessly out of date. He no longer owns or controls an airline nor a brewery, and he was booted out of the alcohol business by Diageo recently.

However, although he may be the beneficial owner of some rather nice assets, it is very difficult to actually pin them all down because they are all nominally owned via various nominee controlled companies in opaque tax havens. However, he is not as wealthy now as he was a few years ago, and in fact it may well be that most of his assets might be secured against some serious loans. I think that his empire might be starting to unwind.

He is currently in the UK in one of his homes here, but is not answering to enquiries. It is not believed that he has access to any other passports, and so for the time being he is stuck here, hiding from the Indian authorities. All a great loss to the z-list celebs who liked to attend his lavish parties; it looks likely that the big bash on his yacht at Monaco will not take place this year, or if it does, he will be missing.
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Old 11 May 2016, 14:46 (Ref:3640905)   #54
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So So!! The UK Govt has turned down the deportation request....

http://www.grandprix.com/ns/ns33794.html

What goes on now then? Bet he gets a UK passport...
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Old 11 May 2016, 15:36 (Ref:3640914)   #55
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So So!! The UK Govt has turned down the deportation request....

http://www.grandprix.com/ns/ns33794.html

What goes on now then? Bet he gets a UK passport...
The Home Secretary has declined to action a deportation as he arrived in this country legally. However, the Home Office has advised the Indian government that it would assist them if they made a formal extradition plea to the UK courts. The next move is up to India.

And I very much doubt that he would be offered a British passport, because that would cause a huge stink.

Talking of passports, I needed to renew mine. Took the old one and the application form into the local Post Office last Thursday, and the new one was put through the letter box by a courier before 8 am this morning. Can't complain about that service.
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Old 13 May 2016, 22:54 (Ref:3641473)   #56
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He could always hide in the Ecuadorian Embassy...
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Old 14 May 2016, 03:34 (Ref:3641505)   #57
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He could always hide in the Ecuadorian Embassy...
I think they're full booked this week.
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Old 17 May 2016, 17:45 (Ref:3642436)   #58
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Disappointing to see Alfonso Celis Jr in the car for both of the Barcelona test days. Not much in his career so far to suggest he's anything special, so I can only assume this is about .
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Old 17 May 2016, 18:36 (Ref:3642447)   #59
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Disappointing to see Alfonso Celis Jr in the car for both of the Barcelona test days. Not much in his career so far to suggest he's anything special, so I can only assume this is about .
Maybe but FI have always been good at running new drivers be testing or FP1 at GPs. Also teams have to run new drivers for at least 2 days at the in season or post season tests if my memory serves me correctly.
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Old 17 May 2016, 19:53 (Ref:3642473)   #60
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They do, but Celis's previous single-seater record is pretty unimpressive.
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