More bad news for Donington ??

[rufus_mcdufus]

I'd love to see F1 at Brands but it's just too small and the neighbours tend to complain a lot as housing developments have been allowed to be built around the circuit. Any attempts to make it nowadays-F1-size could just ruin it.

Donington - well I think we saw it coming. When someone comes along and says they're going to raise £100million out of nowhere to host a GP, then it's right to be sceptical because frankly GPs are not something you can persuade the bank manager to easily part cash with (they don't exactly make a big profit - if any). Good on Simon Gillet for trying but I'm worried now he's p*ssed Bernie off so much that no-one's going to take Donny seriously again and they'll be left with a partially finished track.

As for Silverstone - I agree, it's a bit dull (too flat and wide for my liking) but there's potential to make it a bit better. Watching F1 cars flat out going round Copse is one of my most favourite experiences in life though!

Would it cost less than £100million to build an entirely new circuit or modify another one? I saw reports in the press today of suggestions of a Scottish GP for instance (though round the streets of Glasgow - hmm) - bit perhaps somewhere else in the middle of nowhere?

 

[rufus_mcdufus]

Ecclestone to sue over Donington?

http://www.pitpass.com/fes_php/pitpass_ ... t_id=39285

 

[Brogan]

This whole issue has been a mess from start to finish.

What will happen now with regards to the British GP?
Is Silverstone going to use this to try and negotiate a long term contract?

 

[rufus_mcdufus]

Silverstone have to be careful, because even though Bernie has given verbal guarantees of a British GP, they still have to make sure their demands are reasonable. Having said that I think Silverstone should be able to get (and deserve) a better guarantee than just one year as that's totally unfair on them. Seventeen years is probably pushing it though (there again does anyone believe that guarantee was worth the paper it was written on?).

 

[cider_and_toast]

According to reports in the papers today and yesterday, BRDC Chairman Damon Hill is trying to get guarentees that the British GP if returning to Silverstone next year will do so for the foreseeable future.

Hill dosn't want and it's claimed, will refuse the offer of a one year deal and would like the 17 year deal that was offered to Donnington to be transfered to Silverstone.

Damon is playing a bit of a worrying game here because while Bernie may be down at the moment he is certainly not out and this could risk the British GP altogether. The only bonus point in the BRDC column is that far from being 19 races, next years calendar could be as short as 15 the way things are going. Canada, Spa, China and South Korea are all suffeing in one form or another and none of these races are as yet signed and sealed.

The other question if the Brit GP returns to Silverstone is where that will leave the MOTO GP race that transferred from Donny. Silverstone have said they are starting the work required to re-modal the track for Moto GP races this winter. Will that effect the circuit for the Brit GP anyway?? Of course all this disruption leads to more trouble for Donnington including a huge whole in the ground where the Melbourne loop used to be, so there could be more problems if they can't fix that either.

Hands up if you couldn't see this coming?? It would appear that the only person who didn't was a certain Mr B Ecclestone ESQ.

 

[Brogan]

Donington boss Simon Gillett says he remains fully committed to having the circuit ready in time to host next year's British Grand Prix, after being granted a further extension to his deadline.

http://www.autosport.com/news/report.php/id/79404

 

[cider_and_toast]

"Even if they get the money, I cannot see how it will all be ready in time to go. It is very disappointing because we thought it would happen, but they cannot go on missing deadlines.

Well Bernie, don't you think they've missed enough already!!!

I can picture the scene now:

Big ocean going liner in the middle of the Atlantic sometime in April, about 1 hour after hitting a huge iceberg:

"Bernie, the ships going to sink get in a lifeboat"
"No it won't sink, I've seen the plans, it's unsinkable, I'll give it another five minutes"
"Bernie this is the last lifeboat so you've got to get in now"
"No No, I've set the ship another deadline to stop sinking, give it ten minutes and it wll be fine"
"Bernie at least put on a life belt otherwise you'll sink"
"No I won't Captain Max will save me, any way I keep telling you this ship can't sink"
"Bernie there's another perfectly good lifeboat just over there, it may be a little bit smaller than some of the other lifeboats and not quite as modern but if you swim for it you could make it in time"
"How many more times!! This ship will not sink, If I say it's not going to sink it's not going to sink"
"Bernie last chance to save yourself"
"Look, The deal was done with the ship and it....glug glug glug glug..........

 

[Brogan]

 

[fat jez]

Anyone else fancy Donnington's chances of flogging £135M worth of shares in 2 weeks?

http://www.autosport.com/news/report.php/id/79420

I just can't see it myself...

 

[Brogan]

Based on their track record (pun intended ) I doubt the bonds are going to be rated much above junk.

 

[fat jez]

Reuters reports that rating agency Standard & Poor's (S&P) assigned Donington Holdings a CCC+ rating, seven notches below investment grade.

http://www.autosport.com/news/report.php/id/79459



Really doesn't bode well for Donnington, when their only means of investment carries a warning not to invest from a leading financial rating agency.

 

[Brogan]

For those who weren't already aware, this is how a rating of CCC fits in with the rest of the bond ratings.

http://www.bondsonline.com/asp/research/bondratings.asp

So actually below junk bonds then as I cheekily suggested

 

[cider_and_toast]

If Donnington was an Animal, Rolf Harris would be telling us why the vet had to put it to sleep by now.

Will some one please put an end to this farce. Silverstone isn't the perfect venue but at least it works.

 

[fedupwithuserids]

The way it's going do you think the UK could get a guest slot European GP every few years and the British GP go off to where the money is...

Bernie said he wanted a GP in Britain & would give it as much support as neccessary etc etc..

If so why not support Silverstone and help that upgrade.

If you wanted a country to lose the GP, making out that you tried all you could, then give it to a circuit with no planning permission, no funding in place and little chance of getting any!

A conspiracy theory, but then Piquet crashing, Alonso winning, pure chance.

 

[Brogan]

You're not the first person to suggest that Bernie switched it to Donington knowing full well they wouldn't be able to host it which would give him the perfect excuse to walk away without any blame.

As has been said many times, Bernie and CVC only care about money so if they can get more by selling the British GP slot to another country then they will.

 

[fedupwithuserids]

Excuse me for going off thread...

Bro, F1 is full of conspiracy theroies, the way the FIA and CVC operate do not help these.

Oh, and before anybody thinks I'm a little bit gullible, I am.

but the yanks landed on the moon, nessie can't exist, Gordon Brown puts the countrys interests first etc. etc.

 

[fat jez]

Gordon Brown puts the countrys interests first etc. etc.

dammit, I was with you up until that point

 

[Brogan]

As expected, Donington has failed to secure the funds required.

What now?
Is the British GP off the calendar or is it back to Silverstone?

 

[McZiderRed]

s the British GP off the calendar or is it back to Silverstone?

To have two British WDC, back to back, and NOT have a British GP next year would be unforgivable. Silverstone it is then Bernie, or you really will be a complete se!

 

[BlackCountryBob]

Indeed, there has to be a British GP considering the back to back champions and the team HQs. Silverstone has to be on the calendar because if it is not, every time a race in the middle east is half empty or a race is dull then the entire story will be that it would be different at Silverstone.

What this does is raise serious questions about Bernies methods; why did he sign a long term contract publicly with a track who had nothing even close to the required funds to deliver? I know the creidit crunch did not help but still the point stands.

Donnington must surely go into receivership now, no F1 or MOTO GP, a half finished track with no facilities and no cash to finish.