“Personally, I would tear up all of the contracts and discuss the redistribution of money. No problem,”
Tag Archive: CVC
F1’s three angry teams seemed slightly less angry on Saturday after a meeting with Donald Mackenzie.
The usually paddock-shy CVC chief made the trip to Abu Dhabi to meet with Bernie Ecclestone and Lotus, Sauber and Force India, with the three teams crying foul over how the power and income is distributed within formula one.
Bernie Ecclestone has joined those who are heavily critical of Caterham’s plea for fans’ money to get the struggling team back on track.
Caterham is preparing to return to formula one for F1’s 2014 finale in Abu Dhabi next month.
As it was put into administration following founder Tony Fernandes’ ill-fated sale to Colin Kolles-managed investors, the team as well as backmarker Marussia sat out Austin and will again be absent in rainy Brazil this weekend.
Gerhard Berger has played down persistent speculation his next move could be a return to the F1 paddock.
The F1 legend recently stepped down from the FIA after presiding over the governing body’s junior single seater categories. It triggered speculation that earlier reports he might be preparing to join McLaren-Honda, although dismissed at the time as “utter nonsense”, are actually true.
F1 authorities are scrambling this week to put down a lingering boycott threat ahead of the Brazilian grand prix.
As the sport’s air freight touches down in Sao Paulo, the Brazilian news agency Estado reports that organisers of the Interlagos race are dismissing claims of a boycott threat, insisting that 18 cars – every team with the exception of insolvent Caterham and Marussia – will line up on the grid.
Battle lines are being drawn as F1 reacts to the ‘crisis’ of collapsing teams.
But Red Bull’s Dr Helmut Marko declared unequivocally ahead of the US grand prix: “We are ready.” He was referring to the concept of three-car teams, as he admitted to Germany’s Auto Motor und Sport that it might cost the sport’s big players up to $30 million each.
Ferrari could become the first F1 team to actually own a stake in the sport, the Telegraph reports.
F1 business journalists Christian Sylt and Caroline Reid reveal that, as a non-executive director of the sport’s holding company Delta Topco, departing Ferrari president held an option to buy into F1 to the tune of about $25 million.
Bernie Ecclestone is going straight back to work after agreeing a $100 million deal to end his bribery trial in Munich.
Amid high controversy and suggestions F1’s major stakeholders and his employer CVC might not be happy with Tuesday’s news, it was confirmed that the outcome of the court proceedings is that the 83-year-old is a “free man”.