GPWizard F1 Forum
F1 News & Discussions => General F1 Discussion => Topic started by: John S on February 16, 2011, 11:15:59 AM
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Allegations of corrupt payments have led to Delta Topco & CVC probe, according to the Skynews report below. There also appears to be interest in purchasing F1 from CVC, one wonders if these expressions of interest are white knights or opportunist vultures circling?
http://blogs.news.sky.com/kleinman/Post:eba2d256-3dc0-4563-b242-fe3f1466c141 (http://blogs.news.sky.com/kleinman/Post:eba2d256-3dc0-4563-b242-fe3f1466c141)
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That was weird to read, written half as a news story, half as a first person blog entry. Sounds like something the editor spiked.
However, I know I sometimes come across as jaded, but the idea of corruption at the top levels of F1? :swoon: It would be more surprising if there WASN'T any.
F1 commercial rights are Bernie's favourite play thing. No one else understands it like he does, and wouldn't dare approach it like he does. (I won't debate whether this is good or bad.)
As for anyone looking to get a piece of the pie, I doubt there's any 'white knights' with a few billion dollars out for the good of the sport. The best we can hope for are people who believe the product on the track, rather than extortive deals in the desert, is the best way to grow the sport.
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A quick study of almost any sports franchise over the last few years shows the profit in owning one lies in buying it, holding it for a relatively short time then reselling it, not in actually operating it. I'm sure the plan for CVC was to show the value of F1, then sell it. If there is a scandal the value will drop and CVC will not realize the profit they were hoping for. Either they're innocent and anxious to profit, or they're hoping to find anything incriminating and cover it up while looking clean.
Lonny