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Ecclestone considering F1 buyback


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#1 AustinF1

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Posted 12 July 2014 - 23:23

Ecclestone considering F1 buyback:
 

http://www.express.c...onsiders-F1-bid

 


"..."I have spoken to Donald Mackenzie and I am looking at it," Ecclestone told the Daily Express.

"It is possible, although one or two other companies are interested and I would not enter an auction. Age does not make it impossible. I feel no different to how I did 40 years ago.

"I have a contract with the company, not the shareholders. I have seen some rubbish about being pushed out but there is no-one lined up to take over."

Known for making multi-million pound decisions on a handshake, Ecclestone admits he would like to go back to his way of business if he were to buy back his stake and feels there is still money to be made from the sport.

"Our company has been a very good investment for CVC and it would be a very good investment for me or anyone who owned it," he said.

"You can make money from it, so it would not be a problem for me to ?nd ?nancial backers. I run it now, but it wouldn't make any difference. It just means I would have to buy the shares. I think the company is a good solid business and a good investment.

"The past couple of years we have been running the business as if CVC were going to ?oat the company...."

 

 



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#2 George Costanza

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Posted 12 July 2014 - 23:27

At his age?

 

I have to admit.... Bernie's persistence to remain in F1 is incredible.



#3 Risil

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Posted 12 July 2014 - 23:29

This is interminable.

 

IRL vs CART was Citizen Kane compared to these Bernie/CVC shenanigans.


Edited by Risil, 12 July 2014 - 23:30.


#4 Fastcake

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Posted 12 July 2014 - 23:39

There's been talk about this for a few months now. We never truly know what Bernie's planning until he's gone and done it.

 

Bernie Ecclestone is simply invincible.



#5 scheivlak

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Posted 12 July 2014 - 23:46

"Getting locked up would concern me much more than losing control of F1."

 

The irony - exactly just because that fear of losing control he could well end up in jail  :D 



#6 R Soul

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Posted 13 July 2014 - 00:22

So CVC would get a lot of money for their stake and would also not have the headache of finding a replacement for Ecclestone if he's found guilty. And Ecclestone gets to keep control no matter what. Sod the sport of course.



#7 Shambolic

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Posted 13 July 2014 - 00:23

I'm shocked.

 

I'd never have seen this coming, not after he'd spent so much time devaluing the sport with very public comments, dragging in friends, cohorts and hangers on to join in his derisive remarks and near threats over the "show".

 

Showing an interest in buying back F1, now he's done all he can to reduce its price tag.

 

Who'd have thought it..



#8 4MEN

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Posted 13 July 2014 - 00:24

Bernie and F1... Till death do us part.



#9 Afterburner

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Posted 13 July 2014 - 02:14

Well, if he'll have to shoulder the financial burden for any poor business decisions, it's good news, right?

Maybe he's considering milking it under the assumption he won't be around to see it go down the tubes. In that case, maybe we should hope he lives longer than he's counting on so he'll be forced to fix whatever he changes for worse. :p

#10 chipmcdonald

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Posted 13 July 2014 - 02:34

I had speculated on this being the root of the present insanity.   Curious to read his remarks, also congruent, CVC would be in trouble in a post-Bernie environment, F1 needs a single person at the helm.  Even if the intent of the Present Insanity was not devaluation, CVC would be somewhat insane to want to manage F1 with a typical corporate structure. 

 

CVC has just been bobble heads.  Bernie has groused that he didn't like the little V6's, the sound, DRS, the phallic noses, the narrow rear wings, the two tire rule... but was going along with things.  I hope he buys them out and goes "ok, clear the table off, this is what we're going to do for 2016..." 



#11 Shambolic

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Posted 13 July 2014 - 03:08

CVC has just been bobble heads.  Bernie has groused that he didn't like the little V6's, the sound, DRS, the phallic noses, the narrow rear wings, the two tire rule... but was going along with things.  I hope he buys them out and goes "ok, clear the table off, this is what we're going to do for 2016..."


If by groused you mean slated, slammed and demeaned rule changes that have introduced increased competition, many (if not all) of which have been drafted by the teams/ working groups themselves, and was suspicious in his vocality whilst doing so, then for once I agree with you.

And of course, if he does buy back F1 the first thing he'll do is give you your beloved, quaint, anachronistic ear bleeder engines back. And force wider wings, different noses, and all those other things that clearly cost the teams nothing, cause no waste of resources, and in no way hold back the actual technological advancment F1 has previously stood for.

#12 alfa1

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Posted 13 July 2014 - 03:22

I'm shocked.

 

 

I'm also shocked.  He's sold the sport to other people, what is it, three times now?

 

And now the day has come where he is reduced to the sorry state of *spending his own money* to buy it.



#13 Watkins74

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Posted 13 July 2014 - 03:32

I wish I had a $1 for every person who thinks Bernie is in charge of the car rules.



#14 Murl

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Posted 13 July 2014 - 06:40

I'm also shocked.  He's sold the sport to other people, what is it, three times now?

 

And now the day has come where he is reduced to the sorry state of *spending his own money* to buy it.

Pretty sure he gave all his money away - at least that is what he told the tax man.



#15 kosmos

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Posted 13 July 2014 - 06:44

Please Bernie go away, leave us alone, retire to a nice beach the rest of your days.



#16 Nustang70

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Posted 13 July 2014 - 06:56

Bernie and F1... Till death do us part.

But which death will come first?   :)



#17 ExFlagMan

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Posted 13 July 2014 - 07:55

I'm shocked.
 
I'd never have seen this coming, not after he'd spent so much time devaluing the sport with very public comments, dragging in friends, cohorts and hangers on to join in his derisive remarks and near threats over the "show".
 
Showing an interest in buying back F1, now he's done all he can to reduce its price tag.
 
Who'd have thought it.

Some of us have been saying this for months.

#18 pdac

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Posted 13 July 2014 - 08:07

He would feel he was nothing if he didn't have control of F1 anymore. So this his only way to ensure he keeps that. Or course, it's probably dependent on him convincing some fools to stump up the money for him or beating CVC down to a very small price tag - or probably both.



#19 jjcale

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Posted 13 July 2014 - 11:25

So as I "speculated" before ....BE cant be sacked and CVC will go before he does.

 

 

Lets wait and see...



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#20 Ross Stonefeld

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Posted 13 July 2014 - 13:06

I'm shocked.

 

I'd never have seen this coming, not after he'd spent so much time devaluing the sport with very public comments, dragging in friends, cohorts and hangers on to join in his derisive remarks and near threats over the "show".

 

Showing an interest in buying back F1, now he's done all he can to reduce its price tag.

 

Who'd have thought it..

 

Due diligence on this kind of purchase goes way beyond Bernie's public statements. 



#21 ray b

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Posted 13 July 2014 - 14:31

why is he not in jail by now :rolleyes:



#22 4MEN

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Posted 13 July 2014 - 15:46

why is he not in jail by now :rolleyes:

People with money don't go to jail.



#23 turssi

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Posted 13 July 2014 - 16:16

Would be great to see F1 operated from a prison. Deals done in the visitors' hall in true gangster style !

#24 chipmcdonald

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Posted 14 July 2014 - 01:17

I wish I had a dollar for every person who thinks Bernie is just "the guy that owns the commercial rights".  :rolleyes:


Edited by chipmcdonald, 14 July 2014 - 01:18.


#25 f1fan1998

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Posted 14 July 2014 - 08:46

Due diligence on this kind of purchase goes way beyond Bernie's public statements. 

 

Irrelevant if Bernie is the one buying.



#26 Ross Stonefeld

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Posted 14 July 2014 - 11:13

But I don't think F1's price tag, for the buyer or the seller, is based on newspaper headlines.

 

Otherwise Bernie could say "no no, everything is fine" and you'd expect the price to go up. Bernie can say whatever he wants, make another poor comparison to the Nazis or whatever, and the customers will continue to tune in or not based on their own desires. And ultimately that sets the value of F1.



#27 Mercedestorque1

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Posted 14 July 2014 - 12:21

AM NOT LETTING GO OF ME F1!!!!

 

leprechaun.jpg



#28 R Soul

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Posted 14 July 2014 - 12:40

But I don't think F1's price tag, for the buyer or the seller, is based on newspaper headlines.

 

Otherwise Bernie could say "no no, everything is fine" and you'd expect the price to go up. Bernie can say whatever he wants, make another poor comparison to the Nazis or whatever, and the customers will continue to tune in or not based on their own desires. And ultimately that sets the value of F1.

At the risk of sounding patronising, the price is based on what people are willing to pay. CVC might want to sell their share to some other group, but with Ecclestone talking down the sport, and generating negative headlines, other groups might think "F1 is getting less popular, so we're only prepared to pay X for your share". Ecclestone then comes along and offers to pay a little more, which is still a lot lower than the true value. Funny how he'll talk up the sport when negotiating a new track's hosting fee or a new TV broadcasting deal.



#29 Ross Stonefeld

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Posted 14 July 2014 - 12:59

But someone who can play at the level where they can afford to buy F1 will be looking at the facts, not the statements. So they'll be looking at the drop in TV ratings vs the increase(hopefully) in income from the pay-tv stations. I wouldn't listen to all what Bernie says, I'd look at the numbers. We're dealing with a little more sophistication than daytraders. 



#30 chipmcdonald

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Posted 14 July 2014 - 13:48

 Ecclestone then comes along and offers to pay a little more, which is still a lot lower than the true value. Funny how he'll talk up the sport when negotiating a new track's hosting fee or a new TV broadcasting deal.

 

... it's almost like he's a businessman or salesman.