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Canada buys into F1: ice racing next up!


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#1 Berner

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Posted 28 October 2012 - 00:11

The Globe and Mail newspaper of October 27, 2012, reports that the Canada Pension Plan Investment Board has bought into MotoGP and F1:

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?

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#2 Cacarella

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Posted 28 October 2012 - 00:23

Isn't 400 million the exact amount that Bernie is being sued for by the German Bank (or whatever bank)?

Coincidence?

#3 BRG

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Posted 29 October 2012 - 12:17

Hmmm, MotoGP is dying on its feet (Rossi recently said it was 'boring'), and F1 looks likely to get dragged into the Berniegate corruption scandal. Not sure that, if I was a trustee of this Board, I would be very happy about these investments.

#4 Ross Stonefeld

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Posted 29 October 2012 - 12:21

Rossi was talking about the quality of racing, the pension fund will be looking at the revenues.

And which 400m chunk of 'Formula One Group' did they buy? CVC's, another party's, ?, ?, ?

#5 gm914

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Posted 29 October 2012 - 12:36

Canada?

Pensioners with money to burn?

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Something's stirring...

#6 BRG

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Posted 29 October 2012 - 13:12

Rossi was talking about the quality of racing, the pension fund will be looking at the revenues.

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.