Bernie Waives $40 Million for Bahrain

[cosworth151]

Why won't sharks attack lawyers? Professional courtesy!

Why would Bernie waive the $40 million race fee for a self-appointed absolute ruler? See above.

Bernie is going to waive the $40 million fee for the Grand Prix of Bahrain. He hopes to hold the race later in the year.

http://www.grandprix.com/ns/ns22958.html

[Canada Darrell™]

LOLOLOLOL....

OK, I've stopped laughing long enough to clear the tears from my eyes. Gee Bernie, awefully glad you're not going to charge them for the cancelled race but you damn sure WILL be charging them if and when the race can carry on.

Read between the lines on this little bit of spin doctoring and realize that Bernie and Co. will do everything in their power to make this race a go later in the season. This story has nothing to do with how generous Bernie is and everything to do with greasing the wheels.

[John S]

Is this really a suprise, all businesses give more leeway to their best customers. The fee paid by Bahrain is in the higher range of fees paid for races so no businessman, or woman, would want to kill a golden goose. Just this week we learn that Barcelona wants to re-negotiate the Spanish GP terms for 2012 down from about EUR 16 mill, and there is a question mark about the Aus race going forward. Even though there appears to be more applicants for races the world recession may still cut the calendar back in the next couple of years.

[Alianora La Canta]

Well, half of that fee would have to have been waived anyway because the second half of each year's sanctioning fee only falls due the day after the race. It's difficult to collect money the day after the race if there is no race in the first place...

[Cam]

Not to mention force majeure and all that, its not too hard to waive money you were never going to receive in the first place.