Daimler Benz

What now for Lauda? Ecclestone fraud charges still loom, Kart won’t listed to Vettel’s s*^t, Alguersuari suggests Vettel will be spooked, RB will use new spec alternator in Brazil

by

The end of Lauda Watch? This could be it folks, maybe Lauda watch will be no more. Today Reuters report that Damiler-Benz has severed all ties with Aabar investments who sponsor Lauda’s cap at $500,000 a year. Not only have they acquired Aabar’s 40% of the F1 team but also the 9% holding the Abu Dhabi sovereign fund had invested in Damiler-Benz the global car manufacturer.

Aabar have lost over $2bn by trying to be clever and underpin the Daimler-Benz acquisition with a derivatives deal which went wrong. They have in effect lost their shirt and the banks that funded the deal have retained the stock, which by the way is worth double the price Aabar paid for it.

Read more

McLaren-Mercedes divorce and Cosworth need a new partner.

by

Even though the driver line up’s are mostly sorted for next year, I suspect there are a few exciting news stories yet to break. One of which I believe will be the split between Mercedes and McLaren.

History of the partnership

Having been out of F1 since 1954, Mercedes returned as an engine supplier in 1994, partnering with Sauber and then a year later began their 17 year relationship with McLaren. Since parting company with Honda in 1992, McLaren tried working with both Ford and Peugeot for 2 years with limited success. The 5 year relationship with Honda had delivered both WDC and WCC championships in 4 of those years – 8 titles in all and in just 5 years – 52 pole positions and 44 wins. In stark contrast Mercedes partnership with McLaren has delivered a mere 1 WCC (1998) and 3 WDC titles (Hakkinen 98,99 – Hamilton 08).

In 1999 Daimler-Chrysler (owner of Mercedes-Benz) bought 40% of the McLaren F1 team with Ron Dennis and Mansour Ojjeh each retaining 30% and there was a shareholders agreements which locked Dennis and Ojjeh’s holding together so they could not be sold independently of one another. The arrangement followed a decision by DaimlerChrysler and McLaren Cars to jointly develop and produce the Mercedes-Benz SLR McLaren super sports car which was launched at the Frankfurt Motorshow in 2003 and was manufactured at the McLaren Technology Centre in Woking and at the company’s second production factory in Portsmouth, where the SLR carbon fibre bodyshells are built. The programme was planned for 7 years and around 3500 cars and the last cars were completed by December 2009, although McLaren produced 25 limited edition run of cars in 2011 called the ‘McLaren Edition’.

Read more

Whitmarsh: It was all about the money

by

James Allen reports Martin Whitmarsh speaking today at a Vodafone phone in (say that after a few drinks) when discussed his feelings over losing Lewis Hamilton, his lack of regrets on the matter and the matter of Ferrari’s complaint to the FIA of the McLaren front wing being too flexible.

On the matter of Hamilton and sans regret, Whitmarsh words are, “The offer that we made was higher I believe than any driver in Formula 1 is currently receiving or will receive next year.”

Ok, thanks Martin that’s all cleared that up then… or does it?

I’ve read this carefully constructed sentiment a number of times over the past week and Whitmarsh has repeated it on a number of different occasions, not a single occasion merely reported differently by different sources.

“We made a very, very big financial offer, bigger than I believe any Formula One driver is enjoying today,” (Reuters)

And in a different interview reported in the Mail,

“‘We made a financial offer which is better than anyone in Formula One, other than Lewis himself, receives today, and that is something I am comfortable with.” (Daily Mail)

I try at times to resist my instincts, but after a semester of textual and literary criticism that has never been fruitfully employed in over 20 years, it’s time to dust off the text books.

Read more