New F1 Series?!

[FastCarFan]

I hope this wasn't already posted. The following article is from SpeedTV.com.


F1: Easy To Set-Up New Series Says Howett
Written by: Adam Cooper http://www.speedtv.com
06/19/2009 - 01:36 PM
Silverstone (GBR)

Toyota F1 team president and FOTA vice chairman John Howett says that setting up a rival championship will not present any major problems.
"I think there’s been quite a lot of basic groundwork looked at. It’s not insurmountable at all, quite simple I believe." - Toyota F1 team president and FOTA vice chairman John Howett (Photo: Getty Images) » More Photos

FOTA has already done a lot of research into the prospect, with Flavio Briatore leading the way.

"We took the decision last night that we proceed with an alternative championship," Howett told SPEEDtv.com "There is no other position. I think in the end it’s a difficult decision, but one that was easy to reach, because we believe that it’s the right thing for the sport."

"I think there’s been quite a lot of basic groundwork looked at. It’s not insurmountable at all, quite simple I believe."

"I think it’s fairly easy. The circuits will be very happy to receive us next year. The drivers seem very committed to the basic principle to maintain a championship with the best drivers, the best cars, and hopefully more connection and more involvement of the fans, which is something we think can be improved."

Howett said it was too early to release any more information, especially on potential venues.

"I think you could probably have 20, very easily. I think it would be prudent to look at a sensible size of championship, probably similar to now. But at the moment it’s not something we want to discuss at all.

"We’ve issued this statement, we don’t want to go into the details. As soon as we have details, we will launch it. But I think you have to look. It is an extremely interesting prospect for a number of parties.

"We feel extremely happy, very relaxed, and very invigorated, because I
sincerely believe that what we are doing is right thing for the future of the sport for one or two decades to come."

[strupgolf]

Hey, maybe this is what Tony George and Indianapolis are waiting for. Why pay Bernie big money to stage the show when he can get maybe a better show for less. Bringing a GP back to Indy would be great. And these folks want to race in the US big time.

[FastCarFan]

Here is the official FOTA press release:


18 June, 2009

FOTA UNITED ON THE FUTURE

Silverstone, 18 June 2009 - Since the formation of FOTA last September the teams have worked together and sought to engage the FIA and commercial rights holder, to develop and improve the sport.

Unprecedented worldwide financial turmoil has inevitably placed great challenges before the F1 community. FOTA is proud that it has achieved the most substantial measures to reduce costs in the history of our sport.

In particular the manufacturer teams have provided assistance to the independent teams, a number of which would probably not be in the sport today without the FOTA initiatives. The FOTA teams have further agreed upon a substantial voluntary cost reduction that provides a sustainable model for the future.

Following these efforts all the teams have confirmed to the FIA and the commercial rights holder that they are willing to commit until the end of 2012.

The FIA and the commercial rights holder have campaigned to divide FOTA.

The wishes of the majority of the teams are ignored. Furthermore, tens of millions of dollars have been withheld from many teams by the commercial rights holder, going back as far as 2006. Despite this and the uncompromising environment, FOTA has genuinely sought compromise.

It has become clear however, that the teams cannot continue to compromise on the fundamental values of the sport and have declined to alter their original conditional entries to the 2010 World Championship.

These teams therefore have no alternative other than to commence the preparation for a new Championship which reflects the values of its participants and partners. This series will have transparent governance, one set of regulations, encourage more entrants and listen to the wishes of the fans, including offering lower prices for spectators worldwide, partners and other important stakeholders.

The major drivers, stars, brands, sponsors, promoters and companies historically associated with the highest level of motorsport will all feature in this new series.

[David]

It would be a sad twist if the new series raced at Indy and Montreal while the new US F1 team went to the old series which doesn't race in North America.

[Eric Coffey]

Yeah, I feel for Peter Windsor. He put a lot of effort (and $$) into the USF1 team.
I think that Monaco said it wouldn't provide the venue without Ferrari's presence either. So, the "new" series might be the only one to keep the Monaco GP alive. It would be nice if Bernie and Max could just be "voted off the island."

[Joeaksa]

Eric,

Bernie and Max need to be "voted off of the planet" not just the island. F1 would be a lot better series had those two bowed out years ago.

Hope that the breakaway groups stay and the old F1 group die on the vine. No one is going to watch two teams race against themselves.

[Zeke]

While F1 moves its races more to the Far and Middle East, I welcome more races in North and South America. They don't need to be in the same country, ever.

Does anyone see see the similarity now and the split of American open wheel racing a decade ago?

[Monza_dh]

TV rights are the only important factor here. No multi worldwide feed contract in place then no sponsors and no money for racing period.

[jyl]

As between USF1 and the FIA the withdrawal of the top 8 teams might qualify as a force majeure. Of course, FIA held all the cards against novice teams like USF1 so the contract could be that stunningly one-sided and utterly ironclad.

[Zeke]

There was an interesting comment made by Bob Varsha last night on Speed. He said that Ecclestone must clear 550 Million each year to pay his debt service. Huh? That would make his debts worth somewhere around 10 billion. What is he, a government?

[Jim Richards]

Originally Posted by milt

What is he, a government?

He's bigger (financially) than some governments.

[jyl]

Interesting. So there is some chance of seeing B in a liquidity crisis if his F1 racket breaks down? I'd pay to see that.

[Zeke]

I wish I knew the details. Seems to me that a financial holding company owned the rights to F1 and Bernie bought his way back in. And, apparently Varsha's comments refer more to the obligations of the Concorde Agreement whereby Ecclestone's companies pay the teams. I'm pretty sure it's not that simple. Nor will it ever be.

[FastCarFan]

I love F1, but I absolutely HATE the F1 politics. Bernie & Max both need to go!

Wouldn't you know it, we finally have an interesting year with non-red/silver cars winning, & they are going to screw up everything. I have enjoyed watching Jenson finally getting is due & watching Brawn & Red Bull show up the F & Mc cars each week. Vettel is a breath of fresh air too.

Did I say that Bernie & Max both have to go?