60 replies to this topic

[Elba]

Toto should replace Bernie

Lol based on what? Because he bought his way into F1 some whopping FIVE years ago? 

[Dick Dastardly]

I know he's got very strong connections with Ferrari, but I feel Luca De Montezemelo might be a good candidate to replace BE......

[Stugg93]

EDDIE! 

[chipmcdonald]

Always thought that the really strange thing is CVC being unwilling to invest, or in fact do anything, to increase the value of F1 as a business

 

 

This is the tao of corporations today.  "Capitalism" today is about buying something, and squeezing it until there is nothing left, then pulling the rip cord on your golden parachute.

 

Bernie grew F1 to what it is today, anybody that doesn't realize that is just ignorant.  With CVC being a mute partner, and with Jean Todt being Mr. Green Spec Engine Guy, there is not a lot he can do other than bully pulpit.

 

On the other hand, CVC stand to lose a LOT if Bernie steps down.  I maintain there is nobody capable to unwinding the business of F1 he has *personally* created.

 

I also think that the FIA are waiting for F1 to fail, and grooming GP2 to shift to "GP1" at that time.  Watch...

[johnmhinds]

 

I also think that the FIA are waiting for F1 to fail, and grooming GP2 to shift to "GP1" at that time.  Watch...

 

You mean F2? GP2 is owned by CVC.

Edited by johnmhinds, 21 April 2015 - 00:41.

[AustinF1]

I thought Bernie owned GP2, but I could surely be wrong.

[johnmhinds]

I thought Bernie owned GP2, but I could surely be wrong.

 

http://www.pitpass.c...ets-a-new-owner

 

 

Has Jean Todt been at an F1 race yet this year? Which was the last F1 race he attended?

 

I've seen him at both FormulaE and WEC events this year, he seems to be more focused on building those series up, and is probably smart to be staying far away from F1.

Edited by johnmhinds, 21 April 2015 - 04:39.

[Guizotia]

Always thought that the really strange thing is CVC being unwilling to invest, or in fact do anything, to increase the value of F1 as a business. Private equity companies are normally very anxious to increse the value of the companies they own, but CVC has turned out to be completely focused on short term cash flows withourt apparent regard to the future of their holding. This is very strange - and unprofessional; do investors in CVC's private equity funds not care about this at all +

 

It's being treated as a mature business with little growth prospect.  See here: http://forums.autosp...-etc/?p=6884911

[Timstr11]

Of course it doesn't help that Jean Todt is as useless as a Chocolate teapot...

Please elaborate.

 

Jean Todt does not agree with Bernie on various subjects. Does that make him useless?

Useless for Bernie, yes, which I think is a blessing.

[SophieB]

Always thought that the really strange thing is CVC being unwilling to invest, or in fact do anything, to increase the value of F1 as a business. Private equity companies are normally very anxious to increse the value of the companies they own, but CVC has turned out to be completely focused on short term cash flows withourt apparent regard to the future of their holding. This is very strange - and unprofessional; do investors in CVC's private equity funds not care about this at all +

 

Dieter Rencken has written extensively about the financial situation with CVC if you're interested in that one, like here in the context of Max Mosley's recent comments.

 

Given the fiscal imbalance, the easiest route would be for FOM to up payments to disadvantaged teams, but that is clearly a no-no, for CVC's Fund IV carries enormous debt - believed to be a billion dollars - incurred off the back of future earnings.

Repayments run to an estimated $250million each year, and given that it annually nets around $400million and needs to keep investors sweet, there clearly is not enough to spread about.

 

http://plus.autospor...0386.1408626188 (Autosport Plus)

[Jon83]

Toto should replace Bernie

 

Why exactly should that happen?