F1 under new management for 2016?

[andicole0]

Bernie says F1 under new ownership by end of year!
Andi.

 

[Skeeter]

New ownership is not the same as new management.

 

[Housey]

Interesting, what are peoples thoughts?

 

[Terminal_Boy]

Any change in ownership and/or management can only be a good thing for the sport.

 

[Housey]

It needs a wholesale shakeup, more than anytime in its history in my view.

 

[andicole0]

New ownership is not the same as new management.

In this case I suspect it probably means the same.

Andi.

 

[Housey]

In this case I suspect it probably means the same.

Andi.

So have the rights been sold and the new owners are seeking to appoint new leadership?

 

[Duke]

New ownership is not the same as new management.

This. Also, link?

 

[andicole0]

This. Also, link?

If the 'owners' have the 'managers' in their pocket it does.

News released on Twitter but now on the BBC

http://www.bbc.co.uk/sport/0/formula1/34460582

Andi.

 

[Housey]

The 84-year-old has not identified the potential buyers, but said he had been asked to remain as commercial chief, a role he has held since 1978.

So all change, but no real change then.

 

[Skeeter]

Yeah it will be ownership change, which means nothing. It will be just a shift in distribution or change in ownership of some of the shares in Delta Topco.

 

[drunkenmaster]

Any change in ownership and/or management can only be a good thing for the sport.

This is the most delusional post I've seen in some time. It MIGHT be better, it could also be much much worse for the sport. New investors normally mean they want higher profits to make that investment worthwhile.... that could easily mean taking a larger cut of the profits in the future.

With smaller sports franchises when buying a team if it's done by a billionaire who wants to win it can mean improved fortunes. In the case of most massive teams or an entire franchise investment groups usually leverage money/holdings they have and borrow the vast chunk of the to buy they want a return on investment and often end up spending HUGE amounts on servicing the loans.

Where as Abramovich brought Chelsea on the cheap and poured billions in and some what Abu Dhabi guys bought City on the cheap and poured in billions, the Glazers bought Utd for a HUGE price and still have massive debt and have spent hundreds of millions paying off the interest and only a relatively small part of the debt. They took on that debt to buy it and loaded it on the club.

Huge sports franchises being bought usually means less money for the franchise or team, massive debt, paying off that debt for years. Yes it's in their interest to grow commercial income as much as possible but with that growth being used to pay off debt rather than improve the sport.

 

[Destination]

Interesting, what are peoples thoughts?

My thoughts are that the slimey little ******* will avoid paying any tax related to any sales that he manages to make.

 

[Skeeter]

My thoughts are that the slimey little ******* will avoid paying any tax related to any sales that he manages to make.

You realise this isn't Bernie selling anything, right? And that he only actually owns a tiny percent of F1 anyway?

 

[Duke]

lol

 

[Destination]

You realise this isn't Bernie selling anything, right? And that he only actually owns a tiny percent of F1 anyway?

He owns over 5%, which is more than tiny.
Tiny is what he pays in tax.
Or what his daughter pays in tax.
My point stands.

 

[Skeeter]

OK

 

[Joe!]

As long as they don't get rid of Bernie (CVC let Bernie stay, so hopefully the new owners will, too) - I'll be happy.

Even though around 80% of the things he says are either delusional or backwards, he has done marvellous things for the sport and it would not be the same without him.