F1 Insiders Est. 2012
This page will be updated throughout the day. Please if you are on Twitter press the tweet button below. If you re-write and tweet individual story headlines don’t forget to include #F1. You may not realise how hugely important this is and has helped grow our community significantly OTD Lite 1977 – Put Narain in … Read more
This page will be updated throughout the day. Please if you are on Twitter press the tweet button below. If you re-write and tweet individual story headlines don’t forget to include #F1. You may not realise how hugely important this is and has helped grow our community significantly. FP1 report from the Red Bull Ring F1 … Read more
Force India – FINALLY
Ask the ‘Children of Israel’ who followed Moses what it’s like to miss the boat. 40 years of wandering in the wilderness allegedly – one of the official ‘longest waits’ in history. Well I feel as though I’ve aged 40 yeaqrs whilst writing and speculating about what the hell is going on at Force India – and I think there’s more to come yet.
Whispers last week
TJ13 reported earlier in the week that Mallya and Sahara could be in negotiations to sell part of all of the Force India Team. And raise much needed cash.
“I was chatting to someone this weekend who is both experienced and wise in the matters of team operations, and I told him of my increasing surprise at Force India’s lack of announcement of Di Resta. He smiled and said he was not. I pressed him on the matter insisting there is absolutely no reason not to announce a driver who will definitely be racing in 2013.”
He asked me one question. “When football clubs may be about to change owners or managers, do they announce new player contracts or leave those decisions for those about to take responsibility?” (TJ13 Link)
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.
HRT price tag 40m euros: Thesan Capital (who we think are Banco Popular in disguise – see news yesterday) have most reasonably come clean today and suggested they would be happy to receive back their original investment of 40m euro’s. I bet they would, these are the last desperate scrabbling to realise some cash back on what was a ridiculous venture destined to fail.
If someone pays Thesan 40m euro then there is still 10’s of millions more for the new owners to find to get the team back on its feet again after paying off the debt. Of course there is the prize money from coming last this year, and whilst prize money in F1 is a closely guarded secret, I believe 12th is worth only about 7.5m euro ($10m). The likelihood is HRT will just cease to exist.
The reason I say this, is because there has been for 3 years agreement among the teams for a 13th team to race. This has never happened due to the inability of anyone to get the required funding for an F1 start up. Buying HRT is worse than starting a new team as there will be debts, unpaid wages, a factory in Madrid that would be better located in the UK – why pay anything for them? The prize money is insignificant compared to the rest of the costs.
The news stories together with post race thoughts following the interviews. First some news…
Less races for Europe: Whilst Bernie is usually newsworthy and highly entertaining, he is either actually becoming senile – or I am just sick and tired of his monotonous monologue on a certain subject. The race calendar and new circuits. We were told in an interview on SKY that Europe will be losing another 3 races on Friday, and then on Sunday according to Mr. E France and the Paul Ricard is close a 7 year deal.
Then after Nurburgring telling us they have a contract for an extended race deal, Ecclestone contradicts this, “Yes, there are negotiations with Hockenheim about the race in 2013,” (Wirtschaftswoch).
I’m getting really bored with the silly track in/out game.
Bernie’s birthday bash: There was an unassuming gathering for champagne at breakfast on race day. Most team principals were there but only 2 drivers popped in – Grosjean and Hamilton.
Ferrari won’t be drawn into their own controversy: Dominicali was asked at the team press conference about the political storm Ferrari have created by stating they will run the Italian military naval flag on their cars this weekend, he responded “”If you look behind in the past we have done a lot of initiatives, but there is nothing I want to get into specifically because this is not the place we should do it”. He was then asked whether the team would review their position he retorted, “”Honestly I don’t think it is a matter of this press conference to discuss this subject. If you have any questions, we have a press office.” Dominicali added, “”There is not any political intents or discussion – that is what is written.”
Indian news agencies quoted Syed Akbaruddin, an official spokesperson in the ministry of external affairs, as saying: “Using sporting events to promote cause which are not of a sporting nature is not in keeping with the spirit of sports.”
14:16 GMT The padrino has now entered the fray. We have a statement from Ferrari company president Luca di Montezemolo reported by news agency ANSA saying, “We only want to make a small contribution, with great respect for the Indian authorities, so that a solution might be found through dialogue.”
It’s race weekend, and for those of you who have only joined us since Singapore, thejudge13, is often a little quieter over race weekends – as the focus of the F1 world is on reporting breaking news – who said what to who – who was fastest in which session, so Friday (or is it now Saturday in Japan) before a race is a good time to try to tie up any loose ends that are worthy of note, but not a full article.
A bit of housekeeping first.
Please, please leave comments to the articles, even if you think I’m talking rubbish – tell me. I’ve only had to moderate 1 comment so far for use of the f-word – it still got published but with “[mod]” replacing the offending euphemism.
Also, if you enjoy thejudge13 follow us. This will help us further down the line get live F1 twitter/site guests to come and debate with us and answer our questions. You can follow on twitter and/or email. The buttons on the vertical bar to the right of the screen. If you click for email, you will ONLY receive email when a new article is first published. Retweets and favourites are very good for getting us ranked higher in the busy twitter #F1.
