USF1 -- F1's All-American Challenger

[segedunum]

As for Bernie, he for some reason despises America and Americans. He would love the opportunity to see USF1 fail, as someone else will be waiting in the wings. Heck, he's always been critical of the USF1 deal since it first announced last year...

If this was Penske setting up a US-based F1 outfit then I don't think he'd have been so critical, nor would we have had a thread like this one. There's nothing wrong with having a US F1 team, and I hope a credible outfit tries again, but not this one.

[Pup]

Yes, Bernie says some stupid things about the US now and then, but he also knows well that a great deal of the sponsorship in the sport comes from companies like Phillip Morris, Exxon Mobil, AT&T, FedEx, etc.

[F1LOCO]

Does anyone wonder happened the constant preaching of Peter about this deal being completely open and transparent, unprecedented access, etc..? Heck I was hoping when Hurley got on board, we'd see webcam's up at the shop...but I guess we woudn't see too much from the sounds of it right now...

Maybe Todt is saying, sell now b/f it's too late??

[Richard]

That could well be. There are four parties involved here, all with lots of money to lose. If you're Dallara, you're talking to the other three, trying to salvage their project for the best price possible. If you're Stephan, you're trying to either buy a license from one of the two other teams, or trying to buy the chassis out from under Campos (which you might then resell to USF1, or not). If you're USF1 or Campos, you're trying to either sell your license to Stephan for as much as you can, or buy the chassis from Dallara for as little as you can.

Not the sort of deal that gets hashed out over lunch.

Good analysis

The only thing I would add is there are potentially two licences (USF1 & Campos) and two chassis (Dallara & Toyota) available with one buyer. We're into fire sale territory and the prices will tumble.

The silence from USF1 is swinging my thoughts on this. If the rumours were false, then Speed TV would have rushed out an exclusive to prove the engine had arrived.

[Pup]

The only thing I would add is there are potentially two licences (USF1 & Campos) and two chassis (Dallara & Toyota) available with one buyer. We're into fire sale territory and the prices will tumble.

I think you're right, and I suspect Todt's press release was meant to fan those flames.

If I were Bernie, the deal I'd be trying to broker is for USF1 to buy the chassis and be done with it. Then Todt can hand Campos' license to Stephan in Bahrain and we've got a full grid.

I'd also suspect that there is some renegotiating going on between USF1 and Cosworth, since it seems likely that Cossie has at least one less customer than they thought.

[xpensive]

Only one little thing pup, is Hurley willing to invest more money with those bozos, and/or recruit new management?

[Pup]

Well, I wouldn't, but you can't replace them unless you've got someone else lined up.

Might be worth Hurley giving Mr. Richards a call. He still wants a team, doesn't he?

[xpensive]

Well, I wouldn't, but you can't replace them unless you've got someone else lined up.

Might be worth Hurley giving Mr. Richards a call. He still wants a team, doesn't he?

I'm sure Dave Richards can assemble a team before lunch tomorrow, but he needs a car or two and someone to pay for it.

[cooper-climax]

http://fia.com/en-GB/mediacentre/pressr ... ation.aspx

Press Release
FIA Formula One World Championship
10/02/2010

PARTICIPATION IN EVENTS COUNTING TOWARDS

THE FIA FORMULA ONE WORLD CHAMPIONSHIP


Following recent reports on the interpretation of clauses in the Concorde Agreement concerning the concept of a Team's ‘participation’ in the FIA Formula One World Championship, the FIA wishes to make the following clarification:



From a sporting and regulatory point of view, each Team that has registered for the Championship is obliged to take part in every event of the season. Any failure to take part, even for just one Championship event, would constitute an infringement both of the Concorde Agreement and the FIA Regulations.

[Pandamasque]

Well, I wouldn't, but you can't replace them unless you've got someone else lined up.

Might be worth Hurley giving Mr. Richards a call. He still wants a team, doesn't he?

I'm sure Dave Richards can assemble a team before lunch tomorrow, but he needs a car or two and someone to pay for it.

Dallara have got a couple. Lola too. In any case more than 12 teams at Bahrain is a about zero-possibility now.

[WhiteBlue]

The thing that puzzles me is the inconsistency in Hurley's reported spending. Buying the Dallara chassis will cost 15 to 20 mil $.

According to USF1 they lost time when a sponsorship deal blew. That deal isn't likely to exceed 5 to 10 mil $. Why would Hurley refuse to compensate USF1 for that loss to keep them on schedule when he is now considering to spend a multiple amount to rescue his investment?

[Pup]

The thing that puzzles me is the inconsistency in Hurley's reported spending. Buying the Dallara chassis will cost 15 to 20 mil $.

According to USF1 they lost time when a sponsorship deal blew. That deal isn't likely to exceed 5 to 10 mil $. Why would Hurley refuse to compensate USF1 for that loss to keep them on schedule when he is now considering to spend a multiple amount to rescue his investment?

Dozens of reasons. Windsor could have been lying about having sponsorship in the first place; he could have been using that as an excuse to mask their mismanagement; Hurley could be a hands-off guy and is only stepping in when it's absolutely necessary to do so; they may have had to have missed a particular deadline before he could step in; he may see the Dallara chassis as a smaller risk than just handing Windsor and Anderson money; he may just think the Dallara deal is too good to pass up; maybe he thinks he can get the Dallara chassis on the cheap; Windsor could have been lying to Hurley about their progress; etc...

[dumrick]

The thing that puzzles me is the inconsistency in Hurley's reported spending. Buying the Dallara chassis will cost 15 to 20 mil $.

According to USF1 they lost time when a sponsorship deal blew. That deal isn't likely to exceed 5 to 10 mil $. Why would Hurley refuse to compensate USF1 for that loss to keep them on schedule when he is now considering to spend a multiple amount to rescue his investment?

The speculation is that further funding from Chad is possible, but a situation where Peter & Ken would have to give their chairs over to someone competent.

At the light of that speculation, it does make more sense to finance a overhaul than to throw money at people that, alledgedly, don't really know what to do with it.

[segedunum]

According to USF1 they lost time when a sponsorship deal blew. That deal isn't likely to exceed 5 to 10 mil $. Why would Hurley refuse to compensate USF1 for that loss to keep them on schedule when he is now considering to spend a multiple amount to rescue his investment?

Use your intelligence. That's the sort of thing that usually happens when someone sees incompetence and knows the wrong people are in charge. When you're in that situation you know you're going to be throwing money at the whole thing indefinitely. You know that 5 to 10 million will disappear in about five minutes, the situation won't improve and you will be forking out again and again. Hell, we don't even know that a particular sponsor supposedly pulling out even existed to start off with. With Peter and Ken that's what you're dealing with, and they've obviously lied about several other things.

I don't know a lot about Chad Hurley personally, but he must surely understand that? I would also imagine that he'd be pretty damn annoyed at having to get involved hands-on in a business that he probably doesn't have any experience of. I know I would be. His trust has been violated.

[Jersey Tom]

So much speculation. So few facts.