F1 bid to buy out CVC and end Bernie's reign?

[Greenlantern101]

Interesting news in the last few hours. Miami Dolphins owner and Quatar investors are looking to buy out CVC.

As Bernie is CVC's front man this could mean he wouldn't be retained if the bid is successful.

Interesting reading.
http://www.telegraph.co.uk/sport/mo...ner-and-Qatar-set-to-bid-for-Formula-One.html

 

[Chad Stewarthill]

As I mentioned in the British GP thread, I've read that Ross is said to be keen to keep Bernie on as chief exec.

 

[Brogan]

Ecclestone was quoted yesterday as saying that he would be selling all of his shares.

For some strange reason, no matter what happens, I expect Ecclestone to still be in charge at the end of it all.

 

[canis]

Knowing Bernie he will do a deal to sell all but 1 share to another company, but forget to mention that the 1 share he retains holds 51% of the voting rights and 99% of the capital share from the companies....

 

[Brogan]

One Share to rule them all, One Share to find them,
One Share to bring them all and in the darkness bind them.

 

[FB]

Didn't the previous owners of FOM, who sold to CVC, suddenly discover that although they owned the business they weren't entitled to any of the profits?

 

[Galahad]

I'm cautiously positive about this. Qatar would be making decisions over a longer timescale than the smash-and-grab merchants of CVC. So such things as fanbase, reputation and viewing figures would probably matter slightly more to them.

Not ideal from a human rights perspective, however, and their reputation is unlikely to be helped by the ongoing FIFA investigation.

A subscription to Al-Jazeera Sports on the way...?

 

[Greenlantern101]

I think if F1 was sold to 2 blokes called Fast Eddie and Mick the Greek it would still be in better hands than it is with CVC and Bernie.

 

[F1Brits_90]

I'm cautiously positive about this. Qatar would be making decisions over a longer timescale than the smash-and-grab merchants of CVC. So such things as fanbase, reputation and viewing figures would probably matter slightly more to them.

Not ideal from a human rights perspective, however, and their reputation is unlikely to be helped by the ongoing FIFA investigation.

i dont think human rights are a issue, as lets face it we've been to China UAE & Bahrain, also apparently azerbaijan in future.

but yeah i feel better with them because albeit making a few bad decisions they like their sport & so would be better. hopefully they place more emphasis on the history than the money. because the money is good but surely you can balance the money from your abu dhabi singapore bahrain usa Mexico & Russia, give a finalincal break to the countries we cant afford to lose like us monaco italy germany belgium & japan

 

[Mephistopheles]

One Share to rule them all, One Share to find them,
One Share to bring them all and in the darkness bind them.

Looks just like him..

 

[Greenlantern101]

Max Mosely thinks Bernies energy is amazing.

http://www.bbc.co.uk/sport/0/formula1/33260515

 

[cider_and_toast]

The big question has to be how any new deal would be financed. If the Qatar / US consortium can afford to pay the bulk of the money up front without having to resort ot huge loans then that would be a significant improvment on the current situation. Because a huge chunk of the momey generated by the sport was thrown into the black hole of CVC loan repayments, F1 had to generate more and more revenue just to turn a profit for its owners. Hence, half filled race tracks in far off countries etc etc.

 

[Greenlantern101]

The big question has to be how any new deal would be financed.

Oil and childrens pocket money I should think.

 

[FB]

CVC have repaid their initial invest six times over, if James Allen is to be believed.

 

[Il_leone]

Bernie's reign won't be over ... he'll be used in some capacity to facilitate the transition as promoter of races

It is significant if Qatar backing is involved which will accelerate the possibility of a Grand Prix in Qatar. One burning question is how do the other middle east states ( Bahrain, Abu Dhabi) deal with the fact that Qatari backers would F1. There is generally competition between the states to show off their wealth

 

[Dartman]

Perhaps they will do a Bernie and decide where they want F1 GP's held, gets round that problem

 

[Il_leone]

Rumours are that now Sky want to bid for the ownership of F1. If that is the case then F1 will never return to free to air TV and it will be pay per view if they succeed.

If we take premiership football for example of what will happen is the TV revenue will go more to the big teams and make it more difficult for the small teams to compete.

Sky taking the viewing of England Cricket Home test matches has actually made the national team worse...after the euphoria of beating the Aussies for the Ashes and had the highest viewing figures back in 2005. The Sky deal was done because then the ECB said they needed Sky's money to help develop the grass roots of the game Since then the ECB have gotten more arrogant and acted like middle class snobs and have managed to turn the national team into a bit of laughing stock especially the way they've handled Pietersen and how they've spectacularly failed in One Day and T20 cricket.

I sincerely hope Sky don't own F1 http://www.thesundaytimes.co.uk/sto/business/Companies/article1574247.ece

 

[cider_and_toast]

Sky have been blocked from buying into sports before. They were prevented from becoming majority share holders of Man Utd due to a conflict of interest. I don't think it's likely. Rumours of a potential rival bid may effect the money that someone would be pushed to pay for F1 though. What's that saying? You wait years for a CVC buy out then two come along at once.

 

[Il_leone]

cider_and_toast I can understand why buying Man Utd would reflect a conflict of interest but buying the ownership to F1 - who has the right to veto it

With the money they have and the way F1 operates I would not rule it out

 

[FB]

I suspect the EU would block it. You can't have a TV company showing a sport and selling the rights.