Liberty Media recently offered shares in F1 to the teams but without any ability to control the direction of the sport, as yet… Not particularly palatable for team bosses when nothing has really been planned for F1’s future direction beyond 2020.
Obviously should teams loose all say in creating future regulation, why on Earth would they sign up financially with a stake in the sport. Shares might’ve worked for NASCAR but F1 is a totally different game.
Ferrari have always enjoyed a lions portion of influence within F1 and so they’d be looking very carefully at Liberty’s share offer with a view to ensure they retain or enhance their position.
Interesting times ahead as you’d imagine at this point a ‘back door Bernie’ deal would come into play had he played a part Liberty’s offer so lets see how the new bosses of F1 cope with the situation.
Yesterday during a conference with economic journo’s, Ferrari man Sergio Marchionne hinted by revealing;
“We are currently weighing up the opportunity to take a share.”
But also that they would be cautious about it as “Such an investment would not be wise if we did not know what would happen beyond the year 2020 when today’s Concorde agreement comes to an end.”.
The Concorde agreement is the complex textbook that regulates the economic and sporting context of the triangle Formula 1 rights holders, GP teams and the FIA car association (named after the Place de la Concorde, where the World Automobile Association is located).
When asked about the future outlook of F1 he had this to say;
“I expect Formula One to generally improve. Also, because Liberty Media and Chase Carey know the entertainment industry very precisely. You know how to make this sport more popular.”
Ferrari would be wise to keep on side with Liberty. There are no real alternatives for a threat to ‘break away’, Indycar is not what it once was and the Bernie breakaway rumour really was just that.
Marchionne finally reveals that “Ferrari will play it’s part [in F1’s future]”
Let’s not forget that Mr E’s bilateral deal method has worked for many decades and Liberty will not be reckless with their new acquisition.