F-1 burnie's gone liberty in

[nota]

''Liberty Media Corporation [...] and Delta Topco, the parent company of Formula 1 (Delta Topco herein referred to as "Formula 1" or "F1") announced today that Liberty Media has completed its previously announced acquisition of F1, the iconic global motorsports business, from a consortium of sellers (the "Selling Shareholders"). F1 has appointed Chase Carey as Chief Executive Officer of F1, in addition to his existing role as Chairman, and Bernie Ecclestone as Chairman Emeritus of F1. Bernie Ecclestone, who has given valuable service to F1 over many years, will be available as a source of advice for the board of F1.

Liberty Media's President and CEO, Greg Maffei and Formula 1's Chairman and CEO, Chase Carey will be appearing on the CNBC television program "Squawk Box" from 7:00 am ET to 9:00 am ET on Tuesday, January 24, 2017 to discuss the completion of the acquisition in more detail. During their appearance, Mr. Maffei and Mr. Carey may make observations regarding Liberty Media's and Formula 1's financial performance and outlook and the impact of current economic trends.''

ross braun will be sporting director

[strupgolf]

Great news. Clear as mud.

[rusnak]

I probably need to stop watching F1 now. It's going to be Euro Trash Nascar.

[unclebilly]

Hmmm, the $64000 question is 'what does Bernie do next?'

The $74000 question is 'does F1 need Bernie as much as Bernie needs F1?'

[cashflyer]

'Liberty Media Corporation [...] and Delta Topco, the parent company of Formula 1...

At first glance, I thought Del Taco was the new parent company of Formula 1.

[nota]

Originally Posted by cashflyer

At first glance, I thought Del Taco was the new parent company of Formula 1.

Delta Topco is burnie's offshore holding CORP that owned F-1 media rights
Delta Topco has a 100 year deal with FOM via the FIA when max the nazi ran the FIA
there is a vast web of interlocking CORPrats burnie controled

the whole mess has been sold to liberty media now
and burnie is out but give a title of chairman ephemeris

[rusnak]

I think I understand.

You want the global racing series known as Formula 1, the pinnacle of motorsport and automotive technology, to be run by an organization that is not in it for the money. Not that it would make any material difference to you, but you just like the thought of it.

[nota]

liberty media is a american CORP
it is a 100% for profit deal

I think you are trying to PARF NEWS ABOUT A SPORT

i was just reporting facts

[rusnak]

Oh stop whining. You were blathering on with your anti-corporate nonsense as always.

[MFAFF]

Originally Posted by unclebilly

Hmmm, the $64000 question is 'what does Bernie do next?'

The $74000 question is 'does F1 need Bernie as much as Bernie needs F1?'

F1 has no 'need' for Bernie... he brings no technical knowledge or ability, no sporting knowledge....he is a deal maker, an operator whose effect on the sport has been to create a money generating behemoth. However he is, by his own admission, unable to grasp the opportunities to monetise F1 via social media, remaining firmly in the 'old school' deals which are killing F1 by removing its real and spiritual homes in terms of the main European GPs. He has also been unable to build on the success of the US GP in Austin to have a second GP in the US.. its a large enough place to have tow or three races to itself.

His removal from the reins of power will give the opportunity for new ideas and blood to effect changes. Will it be better or worse, neither; it will be different.

[Deschodt]

This is great news.. 2 Americans on top which will know how to make this more of a show and possibly better marketed. Braun at the helm off tech regs to make it more accessible, more level playing field, cheaper, and the guy knows what makes good racing and does not. The departure of Bernie could also mean less Uzbekistan Grand prix and more classic races coming back... France, Imola, come on...

[Amail]

I'm all for this, and excited to see where it heads.

[javadog]

When I hear "better show" coupled with 'no decreases in sanctioning fees" I fear things are going to get worse.

I want to see races, not shows.

JR

[petrolhead611]

Bernie Ecclestone does have plenty of knowledge of the sport of motor racing by the way.He raced in the 500c formula open wheeler cars in the 50's, owned Brabham for a while, etc etc

[javadog]

Yeah, we know all of that. He still did more harm than good, in my opinion. I've been following the sport for more than 40 years, so I am well-versed in the changes he made. He's a bit of a shyster, to be polite.

JR

[Deschodt]

Originally Posted by javadog

Yeah, we know all of that. He still did more harm than good, in my opinion. I've been following the sport for more than 40 years, so I am well-versed in the changes he made. He's a bit of a shyster, to be polite.

JR

+1. Bernie would drop Spa for a race in outer Mongolia if they signed a better contract....
Hopefully the new guys have a sense of which direction to go. Out of all this, Braun in charge is what gives me the most hope... (he hates DRS and understands the engineering behind the cars and what makes good racing possible)

[VincentVega]

Zandvoort!

Seems like it was time, maybe 20 yrs ago. We'll see. I love the idea of F1 and have been a fan for a long time. Seems like fresh faces are needed though, lots of potential that seems untapped.

[rusnak]

Most of the ridiculous ideas came not from Bernie, but Jean Todt. If he were gone and replaced by Ron Dennis, or Di Montezemolo, then we'd have some interesting racing. Jean Todt is a bureacrat, and Brawn is an engineer. To a hammer, everything looks like a nail, and I'm not sure that you want an engineer running F1's commercial rights, coming up with ideas to make more money.

I predict that there will be a reshuffle within a year.

[javadog]

Originally Posted by rusnak

Most of the ridiculous ideas came not from Bernie, but Jean Todt.

Nah, no way. Bernie was ****ing up F1 long before Todt was even in the sport.

JR

[rusnak]

I suppose you like the hobbyist racer days, back when F1 teams were owned by bored amateurs with more money than sense?