Entries in CVC (26)
Indian Visas
The latest trouble to hit the upcoming Indian GP is that of visas for those wishing to attend. Did no one associated with the race do their homework on this and the tax issues? The Times of India is reporting delays for drivers, teams, and journalists, and yes the FIA officials. There is even a report Rosberg has been refused! Obviously this not an event of "National Significance." The FIA head of communications is quoted as saying, "if it takes three weeks to get a visa then many people won't be going, including me."
Now I actually have a visa, and yes it took weeks, causing me to miss meetings set up by a Government Authority who should have known better. The system is designed so that you cannot get to the consulate directly to try and speed things up, very frustrating. I was a little surprised, I had not required a visa to go anywhere for years, and with a British Passport foolishly thought this would be simple. Seems nothing is simple in India and they don't really want people to go there, except terrorists.
So, if any team needs a driver, let them know I have a business visa.
That man Martin Whitmarsh is in the news again, he must be vying for attention with Montezemolo who has been in the papers every day this week. It appears FOTA is looking at purchasing part or all of the CVC shares in F1, buying back the farm. There are lots of successful player and team groups who have done this, PGA, ATP, NFL and NBA, and then there is CART. Martin says that the teams owning the sport will bring stability, but you cannot help wondering if the smaller teams, like HRT who is not a member of FOTA, would agree? Anyway, it must be better than a venture capital group just sucking money out musn't it?
On the driver front there are rumors that both Kubica and Petrov could be replaced by Senna and Grosjean, Senna bringing more money then Petrov. Renault has announced that Red Bull is their "factory team," no surprise there, and Boulier is apparently covering the bases by talking to Cosworth. All sounds a bit messy. Rumor yesterday that HRT are to switch to Renault power, leaving Cosworth with one customer, and you can't see how that works financially. Talking of leaving Cosworth, their CEO just did.
Maldanado
In an unfortunate headline "Maldanado vows to keep fighting." I would have thought he should keep his head down, I am not alone in thinking he should have been excluded for that move on Hamilton.
On the business scene the upcoming meeting of CVC shareholders promises to be interesting with some major investors wanting answers as to what CVC actually knew and why it has not done something about its management since all this broke?
The Qatar wealth fund has denied it is the likely investor in Silverstone while there are no shortage of rumors. Joe Saward says the deal is done but no one is saying, while the BRDC has told members that the deal will not be closed until later this year. They sold their soul to Bernie to keep the F1 GP and now they have to find someone else to pay the piper.
Following on my comments yesterday about Indy and the MotoGP there is news today that this was the last year of their contract and Indy is not sure it will be renewed. Laguna has a contract for the next two years and Austin has a contract from 2013. It is hard to imagine Indy makes any money on this after paying to rebuild the track for it and then repaving it.
Not much else exciting going on. Baltimore ALMS and Indycar race this coming weekend on the new street circuit, so that will be interesting to see how that works.
Busy,Busy,Busy
Jean Todt and Bernie are obviously not having a summer break. As I said Jean is gladhanding himself around South America, kissing babies and promising and reassuring, must be an election coming?
Bernie is setting a cracking pace for an 80 year old. Today there are stories all over the internet. The sale of the QPR shares, his and Briatore's, has been completed, so I guess he does not have to go to all those matches now. He is reassuring us that India will not only be ready but it will be very nice. Of course he says that F1 will have a problem getting the Indians to watch it instead of cricket, so the Indian GP and sponsors have to work very hard. How about CVC working hard for their $40m or whatever the fee is? Bernie says India is important, and it is and becoming more so, so shouldn't he work to make F1 relevant? Of course he says F1 will be good for India, and as Pit Pass says, as good as it is for Valencia, Turkey, China, and I could add Melbourne, Spa, Hockenheim and Nurburgring, not to mention France?
That's not all though. He was seen on his yacht, don't know how he found the time, and Vettel was with him apparently. They took time off to go to Paul Ricard to watch a Spanish lady racer, Maria de Villota, drive a 2 year old Renault F1 car. Now if Bernie wanted to get a women in F1 then I would have thought there were a few others in front of a 31 year old daughter of a Spanish driver who drove so well in F1 I don't even remember him.
And it goes on, what a day he had. Commenting to Italian newspapers that it was sad to see such a superhuman driver like Michael struggling.
Last but not least come the news that the old partners in the F1 ownership, EM.TV, now called Constantin Medien, are suing Bernie, his Bambino company, partner Steven Mullens, and poor old Gribkowsky, for $100m in loss of profits due to the sale to CVC. Doesn't sound like this business is going away any time soon, but still Bernie has all that free time now he does not have to watch QPR.
Encore Gribkowsky
This soap opera is going to run for a while, and keeps getting stranger by the day. Today it seems there are to be six more people charged over this, but no names. Gribkowsky's original lawyer looks set to go in the frame though. Bernie has told Pit Pass, who I have suspected of being Bernie's back door mouthpiece, but that is not consistent, that he did not give Gribkowsky 27m pounds, only 14 m. Now that begs the question, where did the rest of Mr G's money come from? Bernie goes on to say he did not "launder" it through the offshore companies, but paid it into a bank account, the number of which Mr. G gave him on a piece of paper. Wait for it. The payment "bounced." What, Bernie was overdrawn! So Bernie then said he gave the money to the lawyer, who is then presumed to have washed the money through the offshore companies and therefore becomes entangled and likely to be charged. But I thought it was reported that those offshore companies could be traced to Bernie, or are they just sounding that way? It is confusing, and probably designed to be.
What of CVC in all this I hear you ask? Well they have been talking to London's Financial Times complaining about the lack of communication. They are not complaining too hard though as it seems they are prepared to put up with anything as CVC "has simply shown such great returns." Oh well that's OK then.
Back to real life, or almost. Sauber has as expected announced it is keeping Kobayashi and Perez. Webber has yet to sign on at Red Bull but Horner says that is a formality. Well yes it is, and an important one too. VW have announced they "could" enter F1 in 2018! So why is everyone running this story? And what is so magical about 2018? Who knows what the regs will be by then, or the world come to that. Look at the last seven years. "We have enough good brands that could do that," the story goes. Well yes they do, they do right now, so what? Is this corporate planning in the extreme, and are we so desperate for news, or for another manufacturer to come and go that we need to get in a lather about it?
Just for fun, you have to love headline writers. "Hamilton to race in BTCC." No Lewis is not quitting F1, This is Matt Hamilton, but it made me look. Then there is, "V8's stick with Dunlop tires." Let's hope they do.
Rethink
Pit Pass has a couple of pages that say things more eloquently than I:
http://www.pitpass.com/43844-Comment-WTF
The next one is a report from inside Bahrain that raises some very pertinent points. Like "Odd is it not that you can be fined $100m for stealing someones designs but kill a few people and it is OK." I paraphrase, read the whole piece at:
http://www.pitpass.com/43834-Greetings-from-Bahrain
Max Mosley raised the point that the WMC cannot just change the calendar without the unanimous agreement of the teams, and the teams have finally broken silence, albeit in a private letter to the FIA and FOM, and asked for India to remain on Oct 30th, and let Bahrain go to the end of the year if at all. That way I guess they can say when the time comes we are not going.
This whole sorry saga is taking on the image of a French Farce, and must also call into question the ability of those theoretically in charge to continue running the sport. Perhaps Rupert can do it better? In the meantime how would you like to be promoting the Indian GP and selling tickets? And where are those bunch of heroes who own F1, CVC, they are deafening in their opinion of events. Perhaps their investors include some middle east money as well?
Hopefully we can actually get to some racing in the next few days. Who says there are no politics in sport!