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4 Jul 2014, 05:24 (Ref:3430157) | #1 | |||
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HUGE: CVC to sell out, oust Bernie?
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4 Jul 2014, 06:58 (Ref:3430169) | #2 | |
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Are there any other sources for this rumour? I'm crossing my fingers...
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4 Jul 2014, 07:07 (Ref:3430172) | #3 | ||
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4 Jul 2014, 07:40 (Ref:3430182) | #4 | |
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We'll have to wait and see, although I'm guessing the source was one from the world of finance rather than motorsport so it's probably quite accurate.
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4 Jul 2014, 08:08 (Ref:3430191) | #5 | ||
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Your quote, and the link from which you say it's from, is neither rumour, nor is it, in any way, news!
At the time that CVC originally purchased their interest in Formula 1, they gave their own investors a time-line by which point they would divest themselves of all their shares in all of the F1 companies that the assets are hidden in. This is no secret, and they very nearly floated F1 "package" on the Singapore Stock Exchange a few years ago. CVC's time has nearly run out, so no doubt they are actively looking for a buyer/s for their holdings, and there is also a strong possibility that a new owner may not wish to have Ecclestone as the effective face and "brains" behind running the organisation. What this definitely is not is "HUGE". |
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4 Jul 2014, 10:34 (Ref:3430233) | #6 | |
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But if and when it happens it will be a HUGE change within F1 and the organisation. I am not betting on it happening in the short term as CVC would be loathe to divest itself of its holdings and take a bath financially. The sport is not exactly a red hot buy at the moment for all the reasons that are known.
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4 Jul 2014, 11:03 (Ref:3430239) | #7 | |||
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I have a horrible feeling that Formula 1 may have reached it's nadir, and that post Ecclestone, we could possibly see a much poorer championship. |
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4 Jul 2014, 12:44 (Ref:3430285) | #8 | ||
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4 Jul 2014, 13:24 (Ref:3430295) | #9 | ||
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We even have the big teams partly making or influencing the regulations - how many sports have that? Personally I don't want a F1 world championship that half the teams can't afford to take part in, racing on circuits that can't afford to hold the races. The glue that binds Bernie to F1 is the 100 years rights agreement that gives a security of tenure unrivalled in any other sporting rights in the world - as far as I know. This puts all the chips in BE's hand and means FOM have to put almost no effort or investment into F1 - no marketing, promotion, social media, fan engagement - what promoter do you know that does no promotion of the product they own the rights to? A more usual 10 year agreement would make the promoter of F1 have to work harder as they would have a shorter time to get ROI, would face the possibility of competition for the rights after 10 years, they would need a stronger and more equitable relationship with all the teams and the circuits, they wouldn't have time to scour the globe for another government to build another autodrome, they couldn't risk losing key traditional circuits from the calendar, etc |
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