British Grand Prix at Silverstone to end 2019 - Ferrari Life
 
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post #1 of 6 Old 07-11-2017, 12:14 PM Thread Starter
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British Grand Prix at Silverstone to end 2019

The British Racing Drivers Club that owns the Silverstone track has acted to terminate its contract with the new owners of Formula 1 effective with the finish of the 2019 British Grand Prix. Escalating costs have exceeded to ability of the Club to continue to cover the annual multi-million pound losses. The BRDC hopes to be able to renegotiate its agreement with Liberty with terms that will permit it to continue holding the Grand Prix at Silverstone beyond 2019.

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post #2 of 6 Old 07-11-2017, 03:07 PM
 
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It will be interesting to see how Liberty Media manages Formula 1. Here is an informative article about them:

https://www.economist.com/news/busin...s-new-american

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post #3 of 6 Old 07-12-2017, 08:29 AM
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Latest I saw said they shut down the old Ecclestone contract with the intention of renegotiating with the new owners of F1. The new owners are more interested in tradition than money, unlike Bernie, so the British Grand prix will likely continue at Silverstone.

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post #4 of 6 Old 07-14-2017, 07:23 AM Thread Starter
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Quote:
Originally Posted by tazandjan View Post
Latest I saw said they shut down the old Ecclestone contract with the intention of renegotiating with the new owners of F1. The new owners are more interested in tradition than money, unlike Bernie, so the British Grand prix will likely continue at Silverstone.
I hope you're right, Terry, though I have my doubts

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post #5 of 6 Old 07-22-2017, 03:08 PM
 
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Silverstone F-1 will never die, not such the case someday with dear old "way too" wealthy Bennie. Remember as well and new F-1 ownership looking towards a better contractual arrangement, so much of the local attendance and participation by all the UK local F-1 suppliers and teams, not to have a home town venue would be insane !!!. Just like what would F-1 be without an Italian venue..........a huge mass of red shirted Ferrari supporters protesting loud enough that the Pope would be calling Liberty Media, and Scuderia would be looking for a new country to relocate to.
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post #6 of 6 Old 07-23-2017, 01:28 PM Thread Starter
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Originally Posted by kent_goldy View Post
Silverstone F-1 will never die, not such the case someday with dear old "way too" wealthy Bennie. Remember as well and new F-1 ownership looking towards a better contractual arrangement, so much of the local attendance and participation by all the UK local F-1 suppliers and teams, not to have a home town venue would be insane !!!. Just like what would F-1 be without an Italian venue..........a huge mass of red shirted Ferrari supporters protesting loud enough that the Pope would be calling Liberty Media, and Scuderia would be looking for a new country to relocate to.
They relocated to the Netherlands two years ago. Here was the motivation:

The main advantage of a Dutch holding is the same behind the transfer of Fiat Chrysler, and of CNH Industrial before that: the possibility of a mechanism of double voting rights for loyal shareholders, which would allow the Exor holding of the Agnelli family, along with Piero Ferrari (who owns 10%) to keep control of the luxury car maker even with a stake below 35%.

Exactly why I would never own the shares despite their having done well in the market since going public. The Compan[ies] are being managed for the insiders. Public shareholders who are not savvy are being gulled.

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