Canada buys into F1: ice racing next up!
Posted 28 October 2012 - 00:11
The usually staid Canada Pension Plan Investment Board headed into more exciting territory Friday with its first forays into motorsports.
The manager of Canada Pension Plan’s investment portfolio unveiled two deals on Friday – a 39-per cent-stake in Dorna, a Madrid-based marketer of motorbike racing, and a $400-million financing for Formula One Group, the company behind F1 auto racing.
Interesting. I wonder whose stake in F1 they picked up?
Posted 28 October 2012 - 00:23
Posted 29 October 2012 - 12:17
Posted 29 October 2012 - 12:21
And which 400m chunk of 'Formula One Group' did they buy? CVC's, another party's, ?, ?, ?
Posted 29 October 2012 - 12:36
Pensioners with money to burn?
Posted 29 October 2012 - 13:12
Indeed. But the grids are not full, the racing is, as Rossi said, far less exciting than it used to be, and the spectators are starting to drift away, not to mention the manufacturers. Which is not good for revenues. At the moment, Dorna look to be going the same way as the WRC promoter did. And for not dissimilar reasons.
Rossi was talking about the quality of racing, the pension fund will be looking at the revenues.