Thursday, March 23, 2006
# posted by Rich @ 1:06 AM
F1 in new hands
According to several source, the EU has approved the CVC financial group's buyout of the commercial rights to Formula 1. One of the conditions of this purchase is that the company must relinquish its hold of the commercial rights to MotoGP, held through a subsidiary company.
So what can we expect to change because of this buyout? Well, to begin with not much. However, there is the possibility that the new owners of F1's commercial rights will want to protect there investment, and may try to ensure that the "rebel" manufacturers get a good deal with regards television money. It makes sense right? I mean, if you just invested millions (or billions) in a product, you'd actually want that product to survive past the end of 2007 wouldn't you?
At least, that is what I hope this new deal means. Of course, as I understand it, Bernie will still be in charge of the day-to-day running of the show (ie doing the promotion), so only so much will change. On the other had, better the devil you know I suppose. At least with Bernie, you have a face you can talk to. With investors and banks, you talk to a corporation, and a bunch of morons in grey suits.
So what can we expect to change because of this buyout? Well, to begin with not much. However, there is the possibility that the new owners of F1's commercial rights will want to protect there investment, and may try to ensure that the "rebel" manufacturers get a good deal with regards television money. It makes sense right? I mean, if you just invested millions (or billions) in a product, you'd actually want that product to survive past the end of 2007 wouldn't you?
At least, that is what I hope this new deal means. Of course, as I understand it, Bernie will still be in charge of the day-to-day running of the show (ie doing the promotion), so only so much will change. On the other had, better the devil you know I suppose. At least with Bernie, you have a face you can talk to. With investors and banks, you talk to a corporation, and a bunch of morons in grey suits.
Labels: Formula 1
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