Bernie finally quitting!?

[natehall]

Most important factor is that F1 move away from Money as the central motivation

So you think an investor is going to put a large amount of his/her capital in just for the good of the sport?

I know I wouldnt Invest my money without expecting a good Return On Investment

CVC Rule Bernie and dictate what the profit margin should be, the Investors in F1

CVC are selling F1, bernie and bambino holdings only hold a small share in the F1 pie from what I have read.

[Sebp]

Most important factor is that F1 move away from Money as the central motivation

So you think an investor is going to put a large amount of his/her capital in just for the good of the sport?

I know I wouldnt Invest my money without expecting a good Return On Investment

CVC Rule Bernie and dictate what the profit margin should be, the Investors in F1

CVC are selling F1, bernie and bambino holdings only hold a small share in the F1 pie from what I have read.

"To make a small fortune in F1 you need to invest a large fortune." - Icantrecallhisname

F1 needs to shrink itself healthy. Only go to racetracks that attract large sellout crowds. Divide the TV and ticket money fairly amongst the teams. Cut out the middle man = CVC. Let the FIA conjure up the rules on their own.

And most importantly: Bring back the garagistes!

[Cold Fussion]

I know I wouldnt Invest my money without expecting a good Return On Investment

You should spend more time around Foxhound to convince yourself otherwise.

[Jonnycraig]

The sale of Formula One is nearing the finishing line as a US-Qatari consortium closes in on a deal valuing the motor racing company at $8.5bn.
Stephen Ross, the 75-year-old owner of the Miami Dolphins American football team who heads the consortium, and CVC, the private equity group that owns 35.5 per cent of F1, have “shaken hands” on a possible deal, said two people close to the negotiations.

“We are well along the way,” said one member of Mr Ross’s consortium.
But Mr Ross’s group has only recently begun its due diligence and still needs to raise further investment. “They are doing due diligence now and everything could still fall apart,” cautioned one person with knowledge of the negotiations. He said he hoped for a deal within 30 days.

If Mr Ross is successful, F1 would be controlled by his company RSE Ventures. Other investors include Qatar Sports Investments, the owners of the Paris Saint-Germain football club; Constantin Medien, the German media group; and an unnamed Chinese backer.
Roughly half of F1’s $8.5bn enterprise value is made up of debt, said people close to the situation.
People close to Mr Ross’s consortium have said in the past that they expect to expand the sport in the US and China.

http://www.ft.com/cms/s/715195e4-6dcd-1 ... arrier-app

Leveraged buyout? Very interesting.

[bdr529]

Leveraged buyout?

Not without knowing the actual Debt/Equity Ratio of the purchase, could you call it a Leverage buyout
A leverage buyout is in the range of 10% equity /90% debt. As stated the est. value of F1 is $8.5 billion,
meaning Mr Ross (RSE Ventures) and his group of investors would only be putting up $1 billion in equity and the remaining 7.5 billion in debt

[zeph]

Saward thinks BE is blowing smoke:

https://joesaward.wordpress.com/2015/10 ... ic-truths/

[Just_a_fan]

Further evidence that Bernie is an absolute dinosaur and needs to be axed from F1. He thinks that Blatter should stay and that corruption is a good thing.
http://www.bbc.co.uk/sport/0/formula1/34552570

[Chuckjr]

Further evidence that Bernie is an absolute dinosaur and needs to be axed from F1. He thinks that Blatter should stay and that corruption is a good thing.
http://www.bbc.co.uk/sport/0/formula1/34552570

I believe those quotes were from this interview? I have pasted some of the highlights...

http://gptoday.com/full_story/view/5429 ... t_America/

...

SS: I think one year ago you said about Formula One that it has become too democratic, that everyone just has to be too happy. So there’s no place for democracy in Formula One?
BE: I don’t think there’s any place for democracy, first of all.
SS: Ever? Anywhere?
BE: Anywhere.
SS: It’s funny you say that, because, for me, who is not a Formula One expert – I mean, I’m just an amateur, I’ve just observed you, you’ve just somehow managed to stay this “splendid dictator” in conditions that somehow appear to be a democracy. How do you manage?
BE: That’s because it appears to be a democracy, perhaps, that’s a reason. I think, if you can get people to, more or less, fall in line with what you’re trying to do and support you, then it seems like democracy, which is exactly what democracy should be seeming like.
SS: So, what’s that balance, how do you find that perfect balance between being the perfect manipulator and a perfect moderator?
BE: I don’t know, I think, it’s one of these things that happens. You can’t teach people to do these things.

…

SS: Also, I couldn’t help but notice that new Formula One regulations proposal for 2017 actually includes to make cars faster, louder, more aggressive looking – I don’t really know what that means, but, I get a sense that it has become more about the show than sports – am I wrong? Formula One in general. Is it all about the appearance?
BE: I think, it has become more about the sport.
SS: You think it’s more about the sport?
BE: …than show, yes. I think we are in show business. The minute we stop entertaining, we’re in trouble. So people like racing… I think, what our biggest problem is that you and I know pretty well who’s going to be the World Champion this year. It can’t be right. People come to watch racing, to watch anything, and they don’t want to know the result before it starts. That’s the rulebook that I want to tear up.

…

SS: Now we see Formula One sort of moving to the east – you have Russia, you have Azerbaijan, you have Singapore, Bahrain. Do these racetracks bring more fans, more money? What’s this movement eastward all about?
BE: We’re are a World Championship, always been a World Championship. We were based more or less based in Europe – so it can hardly be a World Championship. So when the opportunity arose to move, I mean, I tried to have a race even in 80s. So, I’ve always wanted to move this way.
SS: Is there something wrong with Europe, with the old places, like Germany and France? Why move away from Europe?
BE: I think Europe is a thing of a past anyway. I think it would be a nice for people from China and even here, to visit, and look how the old times were, you know. It’s not going anywhere.

[Moxie]

Wow!

When discussing Bernie Eccelstone I have refrained from using inflammatory descriptions such as "dictator". I have felt that he had an insensitive attitude toward the poor people of the nations who are taxed severely to host a GP. It is astounding to learn that he actually takes pride in being a dictator, and actively supports the oppression of so many people.

I never knew. I think I am gonna puke.

Not another dollar of my money
Not another second of my time
Not another glimpse from my eyes
Will be devoted to F1 until Bernie Eccelstone is gone and F1 Management stops supporting and creating such evil in the world.

I may continue to take part in F1 technical, but I offer a polite warning. My attitude has just changed, this $h1t just went from complaining about a very expensive sport, to discussing why we choose to finance despotism. I now support the demise of the evil SOB, and a dismantling of his circus of oppression. Whether or not elite racing bears the F1 brand means nothing to me.

[wesley123]

Wow!

When discussing Bernie Eccelstone I have refrained from using inflammatory descriptions such as "dictator" and "Hitler". I have felt that he had an insensitive attitude toward the poor people of the nations who are taxed severely to host a GP. It is astounding to learn that he actually takes pride in being a dictator, iIdolizes Hitler, and actively supports the oppression of so many people.

I never knew. I think I am gonna puke.

Not another dollar of my money
Not another second of my time
Not another glimpse from my eyes
Will be devoted to F1 until Bernie Eccelstone is gone and F1 Management stops supporting and creating such evil in the world.

I may continue to take part in F1 technical, but I offer a polite warning. My attitude has just changed, this $h1t just went from complaining about a very expensive sport, to discussing why we choose to finance despotism. I now support the demise of the evil SOB, and a dismantling of his circus of oppression. Whether or not elite racing bears the F1 brand means nothing to me.

And this is exactly what Bernie meant with "That’s because it appears to be a democracy, perhaps, that’s a reason. I think, if you can get people to, more or less, fall in line with what you’re trying to do and support you, then it seems like democracy, which is exactly what democracy should be seeming like."

People always make empty threats but in the end always fall in line. How I know that that happens? Because if it wasn't, you wouldn't have made the post and just left.

[Moxie]

Wow!

When discussing Bernie Eccelstone I have refrained from using inflammatory descriptions such as "dictator" and "Hitler". I have felt that he had an insensitive attitude toward the poor people of the nations who are taxed severely to host a GP. It is astounding to learn that he actually takes pride in being a dictator, iIdolizes Hitler, and actively supports the oppression of so many people.

I never knew. I think I am gonna puke.

Not another dollar of my money
Not another second of my time
Not another glimpse from my eyes
Will be devoted to F1 until Bernie Eccelstone is gone and F1 Management stops supporting and creating such evil in the world.

I may continue to take part in F1 technical, but I offer a polite warning. My attitude has just changed, this $h1t just went from complaining about a very expensive sport, to discussing why we choose to finance despotism. I now support the demise of the evil SOB, and a dismantling of his circus of oppression. Whether or not elite racing bears the F1 brand means nothing to me.

And this is exactly what Bernie meant with "That’s because it appears to be a democracy, perhaps, that’s a reason. I think, if you can get people to, more or less, fall in line with what you’re trying to do and support you, then it seems like democracy, which is exactly what democracy should be seeming like."

People always make empty threats but in the end always fall in line. How I know that that happens? Because if it wasn't, you wouldn't have made the post and just left.

I never thought F1 was a democracy. I knew Bernie was a capricious, greedy bastard, and that he did not care so much about common people of the nations that hosted GP's. I did not know his admiration, and active support of these despots. Maybe I had "fallen in line" but who really expects a sport to be a major contributor to despotism.

You don't know me well enough to consider my statements "empty threats." Actions I have already taken is to inform Alexander Rossi, and Haas F1 that I will be writing to their sponsors to dump them because of their financial support of Bernie and the despots he supports.


I am already knee deep in politics, but I would rather not disclose in what capacity I am politically active. F1 used to be my release, an apolitical pastime. Am I capable of turning my stress free hobby into a new stress creating crusade? I don't know. Odds are that I will simply discontinue my activity from this forum. If I decide that I am up for taking on a new political challenge, you can expect that I will use this forum to inform and educate people about the impact Bernie Eccelstone and F1 have on the common people of the nations they conquer, at least until the moderators kick me out.

[wesley123]

You don't really need to know someone to know that when someone makes an announcement of how awful everything is and that is why they leave etc. etc. that they don't really mean it at all. It's pretty normal behavior really.

There's really no value in saying how you leave, because either you stay, or your opinion doesn't matter. There is literally no value in saying that whatsoever.

But to get further in on what you just said; This is exactly the thing I wrote about in the previous post, you clearly are still spending time on it, else you wouldn't write people involved in F1 about any personal vendetta(I really hope I used the word good here, as it sounds pretty cool) you might have. If you are gone, not involved in it anymore then what do you care what anyone does with it? It's not like Bernie pays people to keep track on you or anything.

[Moxie]

But to get further in on what you just said; This is exactly the thing I wrote about in the previous post, you clearly are still spending time on it, else you wouldn't write people involved in F1 about any personal vendetta(I really hope I used the word good here, as it sounds pretty cool) you might have. If you are gone, not involved in it anymore then what do you care what anyone does with it? It's not like Bernie pays people to keep track on you or anything.

There is clearly a vast gap between the way you and I see the world. It is not my desire to insult you or be rude towards you, but since we have such a different understanding of what is important, it is likely that you will be insulted by what I am about to say.

[...] Suffering populations are more important than fancy racecars. If you can't see that, then shame on you.

You have helped me decide that I do not have the time and energy to take on a new political challenge. [...] F1 was my relaxation, now it is just a source of guilt. I guess I'll just focus more on IMSA.

Bye!

[dans79]

Grow the --- up!!! Suffering populations are more important than fancy racecars. If you can't see that, then shame on you.

That depends how much you care about someone you have never, and most likely will never meet.

[Just_a_fan]

The reality is that democracy doesn't exist outside of small groups of likeminded people. Sure, politicians tell people they live in a democracy but most of them know that it's just a disguise for a plutocracy (or even oligarchy in some cases).

"Freedom's just another word for nothing left to lose"