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Old 24 May 2015, 11:44 (Ref:3540607)   #151
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Originally Posted by Clive View Post
One day someone will call his bluff, and other circuits might follow, so when he's lost all the established decent circuits all he'll have left are the government funded empty standed non locally supported GPs and the advertisers will withdraw and the TV figures will drop and F1 will reduce in stature and then he'll have nothing. But will he care?
It really doesn't seem to be much of a stretch to see someone jumping in and starting a parallel series at and with the co-operation of the decent tracks.
If the racing is good, losing Bernie, CVC, Ferrari, McLaren, Williams and RBR would not be that devastating!
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Old 24 May 2015, 12:40 (Ref:3540612)   #152
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Originally Posted by Clive View Post
One day someone will call his bluff, and other circuits might follow, so when he's lost all the established decent circuits all he'll have left are the government funded empty standed non locally supported GPs and the advertisers will withdraw and the TV figures will drop and F1 will reduce in stature and then he'll have nothing. But will he care?
He'll probably have shuffled of the mortal coil by then, so no.
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Old 24 May 2015, 18:54 (Ref:3540737)   #153
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Clive should be qualifying in the top 10 on the gridClive should be qualifying in the top 10 on the grid
How much more damage will he do to the sport he built up though before then?
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Old 24 May 2015, 21:10 (Ref:3540805)   #154
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Great, smart multilateral relationships could be formed with many of these tracks and the surrounding communities that would be fruitful indefinitely, on the basis of a favourable fee. Track and sport could thrive taking the long view.

But Eccelstone acts like a local neighbourhood "pay up or else" gangster who might otherwise do well but prefers to lean on people because he gets a cheap thrill from being the boss. A real old style gangster - he should wear a fedora, chew a cigar and sling a tommy gun on his back just to complete the ensemble.
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Old 24 May 2015, 21:53 (Ref:3540823)   #155
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Yes Bernie is currently trying to brow beat the Italians to pay him more $$$$$$$$$$$ for their GP and the deal does not seem to be making nuch progress.
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Old 26 May 2015, 17:12 (Ref:3541440)   #156
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The real Mafia does not kowtow to the pretender?
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Old 1 Jun 2015, 21:13 (Ref:3543947)   #157
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La Presse reports that Montreal race promoter Francois Dumontier is looking to cash in some of his chips by finding a financial partner. Translation by Google (tweaked by me).

June 1, 2015
Part of the Grand Prix for sale
Vincent Brousseau-Pouliot
La Presse

Part of the Canadian Grand Prix is ​​for sale. Now that he has concluded a 10-year agreement with F1 for the presentation of the Grand Prix in Montreal, the promoter of the race Francois Dumontier has had discussions in recent months with certain companies in the province Québec as well as major US companies in the entertainment industry to accommodate new investors in his company, Octane Racing Group.

Several scenarios are considered, including the sale of a stake of up to 50% of the shares of Octane Racing Group, currently 100% owned by François Dumontier. Reportedly, at least two Quebec companies have held discussions with Octane Racing Group: Attraction Media and Stingray. The CH Group indicated to the Press that it has not had discussions about a partnership.

"I talked to several people, said François Dumontier in an interview with La Presse. I think right now we [the Octane Racing Group] have a value, and I am looking at my options as any businessman would. This is a normal process. "

"I'm one year into my new contract [10 years with F1]. As an entrepreneur, my current value is better now than it was last year or will be in five years. "

The Octane Racing Group has been the local promoter of the Canadian Grand Prix since 2010 under an agreement with Formula One Management, the company run by Bernie Ecclestone who owns the rights to the F1 Grand Prix worldwide.

Formula One Management has a separate agreement with the different levels of government, who pay $ 18.7 million per year for the presentation of the Grand Prix in Canada. The Octane Racing Group therefore organizes the race as local sponsor, does not touch subsidies and accepts some of the financial risk in accordance with its contract with Formula One Management. "It is I who take the risk," said François Dumontier, who, at 48, is the second youngest promoter in the circuit of F1.

Previous discussions

This is not the first time that François Dumontier has considered welcoming new shareholders in the company. Between 2011 and 2013, the Montreal businessman had discussions with US companies as part of the proposal for an F1 race in New Jersey. These US companies "have an interest in the Canadian Grand Prix," according to Dumontier. But the project in New Jersey fell through and Mr. Dumontier had to wait until June 2014 to renew its agreement as promoter of the Canadian Grand Prix for 10 years.

With its new 10-year agreement as a local promoter of the Canadian Grand Prix, François Dumontier has revived discussions with these large US companies in the entertainment industry to accommodate new investors in the Octane Group. He also initiated discussions with major Quebec companies.

"I have had approaches by foreign groups, said François Dumontier. In my evaluation, I pay attention to potential local partners but it could also end up with a foreign partner. "

"I am a Montrealer, I made my career on Île Notre-Dame in Montreal, the Grand Prix is ​​an institution for Montreal and we will celebrate 50 years of the F1 in Montreal in 2017. I will explore a little the possibility of a Quebec investor before looking to foreign capital. "

Reportedly, at least two Quebec companies discussed with Octane Racing Group: Attraction Media and Stingray. Attraction Media is an entertainment group that is one of the largest TV producers in Quebec, in addition to having 10 regional radio stations and an advertising production company. Stingray is a Montreal-based music distributor in Canada and abroad. Both companies have not commented on this issue, and Dumontier did not specify the identity of his interlocutors, both in Quebec and abroad.

The CH group, a major player in the Quebec entertainment industry, however, confirmed to La Presse that it had no discussions with the Octane Racing Group. "We do not have any discussions for a partnership," said Donald Beauchamp, Senior Vice President, Communications Montreal Canadiens (CH Group). In 2013, Geoff Molson, shareholder and Chairman of CH Group, met the big boss of F1 Bernie Ecclestone, according to La Presse.

If he manages to get along with new shareholders, François Dumontier however intends to keep a significant stake in the Octane Racing Group and continue to be the main leader of the company.

Searching for a Sponsor

Another issue that may influence the entry of new shareholders in the Octane Racing Group: finding a title sponsor for the Grand Prix of Canada, which it has not had since 2003 (see following). Octane Racing Group estimates the value of this sponsorship to about $ 6 million per year (the annual budget of the Grand Prize is thirty million).

Is Octane Racing Group a profitable business? The company does not disclose its financial statements. "I have not had a major sponsor for five years and yet I renewed my promoter contract states François Dumontier. As a businessman, I am satisfied with our performance and I ready for the next 10 years. "

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Old 10 Jun 2016, 03:15 (Ref:3648605)   #158
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On the eve of this year's Grand Prix du Canada, the future of the race does not look bright. I wonder whether the current 10-year contract will be fulfilled.

I don't know where the city and the promoter will find the money to make the $30M+ in infrastructure improvements that are required in the current contract. The public is no mood to write another check using public funds for the benefit of F1. Race promoter Francois Dumontier needs to find a major sponsor soon, or else...

Taxpayers, start your outrage: You’re paying for the Montreal Grand Prix
Konrad Yakabuski
MONTREAL — The Globe and Mail
Thursday, Jun. 09, 2016 6:00PM EDT

...Under a 10-year deal struck in 2014 with British F1 magnate Bernie Ecclestone, governments here will pay $187-million to Mr. Ecclestone’s management company for the privilege of holding an F1 race in Montreal until 2024. Montreal also agreed to pay for upgrades to the Circuit Gilles-Villeneuve race track demanded by Mr. Ecclestone and estimated in 2014 to cost $32-million.

At the time, Canadian politicians of all stripes fell over themselves to laud the deal...

It turns out their enthusiasm was based on a major false assumption. Ottawa estimated the annual “economic spinoffs” from the Montreal Grand Prix at $70-million, but offered little in the way of data to back up that number. The Quebec government was even more bullish, estimating the economic impact at $90-million a year, without so much as a credible cost-benefit analysis to prove it.

But a new economic impact study commissioned by the governments and the event’s promoter, Octane Racing Group, pegs the event’s contribution to Canada’s gross domestic product at $42.4-million, about half the previous estimates, raising serious questions about whether cash-strapped governments should be subsidizing the leisure activities of the 1 per cent at all.

The study, conducted by Montreal research firm Ad Hoc and based on data collected during the 2015 Grand Prix, the previous estimates erred in failing to account for double counting in gross revenues and spending on imported goods and services. The result is that the $17-million governments pumped into the Grand Prix in 2015 – a sum that is to be indexed at a rate of 2 per cent a year over 10 years – generated just $8.1-million in tax revenues for Ottawa and Quebec...

Even with more credible but sobering data in hand, it’s unlikely that governments would have thought much harder about meeting Mr. Ecclestone’s conditions. The Grand Prix has taken on such iconic status in Montreal that the mere threat of losing it gives politicians anxiety attacks...


F1 boss Bernie Ecclestone slams Canadian Grand Prix over infrastructure, sponsor
By Bill BeaconThe Canadian Press
6:07 PM, Thu., June 9, 2016

MONTREAL—Formula One boss Bernie Ecclestone is not impressed that no work has been done on building new paddock at Circuit Gilles Villeneuve and that the race has yet to land a major sponsor.

When a multimillion dollar deal involving three levels of government was announced in 2014 that would keep the Canadian Grand Prix in Montreal until 2024, the city promised an extra $32 million for the paddock and other infrastructural improvements by 2017. That leaves one year for a lot of work to be done.

Asked if failing to get it done on time would put the event’s future in doubt, Ecclestone said “Probably the contract’s in doubt. When you have a contract, normally it’s got the terms are set out in the contract what people are supposed to do, both sides. It’s been forgotten a little bit from the city.”

“I find it difficult to understand why they haven’t managed to attract a major sponsor,” he added.

Race promoter Francois Dumontier didn’t comment on the lack of movement on infrastructure, but he is still working on finding a sponsor to make the event profitable...
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Old 10 Jun 2016, 14:59 (Ref:3648716)   #159
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An article, "Montreal shown the finger by the boss of F1," in the French language tabloid Le Journal de Montreal makes the point that F1's new sponsorship deal with Heineken may have a negative impact on the relationship between GPC promoter Dumontier and GPC beer sponsor Sleeman, the number 3 Canadian brewery.

In other words, Dumontier was maybe working to get Sleeman to become the title sponsor of the race but that Sleeman would now be much less interested in doing so because of the F1 deal with Heineken. Understandably Sleeman would not be interested in sponsoring a race where giant trackside signs all advertise Heineken.

The article states:

Comme vous l’avez lu cette semaine dans Le Journal de Montréal, l’arrivée de Heineken en F1 a coupé l’herbe sous le pied à Dumontier, dont le contrat avec Sleeman était pourtant valide pour encore trois ans.

Cette décision prive le promoteur et sa compagnie, Le Groupe de course Octane, de l’une de ses principales sources de revenus sur le site.


Translation:

As you read this week in the Journal de Montreal, the arrival of Heineken in F1 "cuts the grass under the feet" of Dumontier, whose contract with Sleeman was nevertheless valid for another three years.

This decision deprives the sponsor and his company, The Octane Racing Group, of one of its main sources of income on the site.


Which reminds of my encounters with the charming young ladies of Sleeman at last year's race.



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Old 12 Jun 2016, 22:41 (Ref:3649199)   #160
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Montreal Mayor Denis Coderre spoke up on the day of the race about the issue of the renovations to the infrastructure of Circuit Gilles Villeneuve. The mayor is somewhat well respected in Montreal, but he is also known as a loose cannon who makes big pronouncements that don't always turn out to be true.

So I'm glad to see that the mayor supports making the renovations but I'm still not convinced that they will happen. On verra.

Coderre says deal reached with F1 to upgrade facilities at Canadian GP
The Canadian Press
Published on: June 12, 2016 | Last Updated: June 12, 2016 2:18 PM EDT

Montreal Mayor Denis Coderre says there is no rift between the city and Formula One management over improvements to Circuit Gilles Villeneuve.

Coderre said Sunday ahead of the Canadian Grand Prix that a handshake agreement has been reached between F1 boss Bernie Ecclestone and the head of the city’s executive committee Pierre Desrochers on enlarging the paddock area and other upgrades at the track...

Coderre said plans were delayed by disagreements over which installations would be permanent and other details.

There will be another deadline, but there’s a handshake and we will finalize everything by the end of July,” said Coderre...

“...We agreed on what we need to do and we will do it.”
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Old 22 Jun 2016, 18:37 (Ref:3654494)   #161
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Another article that acknowledges the problems facing the Montreal race:

wheels.ca
June 18, 2016
Wheels Editor Norris McDonald is in Montreal and discovers the future of the Grand Prix du Canada is suddenly in doubt.

MONTREAL –

...I know that a year ago there was a grand announcement of a new, 10-year deal that would keep the race in Montreal through 2025. But there were several pieces of the puzzle missing when that announcement was made.

Most notable was the absence of anyone from Formula One or the FIA, which governs world motorsport. True, Bernie Ecclestone, who runs F1, issued a news release in which he said how happy he was that Canada would remain in the fold.

But the announcement of the 10-year extension was made about 25 metres away from Ecclestone’s paddock compound and it might have taken him a minute – or less – to walk over and say how pleased as punch he was in person.

But that didn’t happen and now the mayor of Montreal, Denis Coderre, who made the good-news announcement a year ago, is apparently dragging his feet on a key element of the new deal, a $33-million investment in infrastructure by 2017 that would see the F1 paddock at Circuit-Gilles Villeneuve enlarged and permanent structures constructed to include indoor plumbing to replace the current, 2016-model, outhouses.

Mr. Coderre, whose city is on the hook for the cash and the improvements, isn’t saying much. But there are no plans on file for this project (so far as anybody knows) and even if construction started next Monday, one day after this year’s race will be over, it would likely not be finished in time for next June, a key condition for the race to continue...

...Time will tell, as they say. But there are storm clouds on the horizon and the clock is ticking.
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Old 23 Jun 2016, 13:54 (Ref:3654668)   #162
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The circuit is beautifully laid out in a great setting and it's one where cars can actually race each other. But Bernie doesn't care as long as he gets his next million. He doesn't even care about the sport anymore
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Old 23 Jun 2016, 20:18 (Ref:3654754)   #163
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The circuit is beautifully laid out in a great setting and it's one where cars can actually race each other. But Bernie doesn't care as long as he gets his next million. He doesn't even care about the sport anymore
And he hasn't for a long time. Otherwise, F1 would be racing at the 2 circuits which are owned by his companies: Le Castellet and Istanbul Park.
The NASCAR-owned International Speedway Corporation owns many of the tracks which host NASCAR-sanctioned events in the USA. Why can't F1 run at Bernie-owned tracks? Because Bernie's business model is quite different. But then, Bernie is not CVC (or so they say) and CVC does not own these two tracks, which is where the NASCAR comparison ends.

If F1 leaving Montreal means IndyCar coming to Montreal, I'd say that would be a good enough reason for me for Montreal to let go of F1.
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Old 23 Jun 2016, 20:21 (Ref:3654756)   #164
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It really doesn't seem to be much of a stretch to see someone jumping in and starting a parallel series at and with the co-operation of the decent tracks.
If the racing is good, losing Bernie, CVC, Ferrari, McLaren, Williams and RBR would not be that devastating!
It is unlikely that the tracks would form a FOCA or FOTA type union to host a rival series to F1 because F1 is an FIA-sanctioned series, and most of them also host many other FIA-sanctioned events.

Besides, which company would build the customer chassis for a rival series anyway? ;-)
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Old 24 Jun 2016, 05:43 (Ref:3654815)   #165
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These ramblings about Montreal is happening with other F1 circuits, i.e. Interlagos. Bernie has threaten to move the Brazilian GP to Argentina (and he meant, Buenos Aires) if Interlagos couldn't afford his demands. But fact is, Argentina is not prepared for Bernie's demands, too.
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