Ecclestone - Future / replacement

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Lee
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Ecclestone - Future / replacement Apr 26, 2016 8:48:25 GMT

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Post by Lee on Apr 26, 2016 8:48:25 GMT

The latest rumours are that the major manufacturers are plotting against F1 supremo Bernie Ecclestone. There are claims that Ferrari president Sergio Marchionne's plan is that Ecclestone be replaced by a group of three, featuring key legal and marketing representatives with a third figure representing "the sporting side".

So far GPDA president Alex Wurz, F1 veteran David Coulthard and Niki Lauda have all been mentioned as candidates. Apparently Niki Lauder has suggested he may even be prepared to give up his Mercedes roles!

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Andrew 2.8i
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Ecclestone - Future / replacement Apr 27, 2016 8:11:38 GMT

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Post by Andrew 2.8i on Apr 27, 2016 8:11:38 GMT

I suspect it will take a strong character with forthright opinions to step into Bernie's shoes. I can't see that it's a role that could successfully be run by commitee. I think Lauda or Flavio Briatorie could fit the bill.
A big difference, of course, is that Bernie owns a percentage of F1, and so has a financial interest in the way F1 is run, but the new head would merely be a figurehead and spokesperson for CVC.

Lee Administrator Posts: 3,960	Ecclestone - Future / replacement Apr 27, 2016 8:22:02 GMT Quote Select Post Deselect Post Link to Post Member Give Gift Back to Top Post by Lee on Apr 27, 2016 8:22:02 GMT I'm not totally sure if Lauda is the right person - although I like him Briatorie has apparently been blocked in some way!
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Andrew 2.8i
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Ecclestone - Future / replacement Apr 27, 2016 8:37:18 GMT

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Post by Andrew 2.8i on Apr 27, 2016 8:37:18 GMT

Apr 27, 2016 8:22:02 GMT Lee said:

I'm not totally sure if Lauda is the right person - although I like him
Briatorie has apparently been blocked in some way!

When Bernie dies, would his 25% share of SLEC would be passed onto the other shareholders, or does it depend on what is written in his will?
I'm not sure how it works.

Either way, without owning a share of the company that ultimately runs F1 promotions, would his replacement have any significant say in the running of F1?

It would be nice to see somebody in the role who understands business, but also has a passion for F1 and has it's best interests at heart, something that Bernie has been criticised for not doing recently. Luca di Montezemolo?

Lee
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Ecclestone - Future / replacement May 5, 2016 11:43:53 GMT

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Post by Lee on May 5, 2016 11:43:53 GMT

Apr 26, 2016 8:48:25 GMT Lee said:

There are suggestions that both Mercedes and Red Bull are supporting this idea too!

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Andrew 2.8i
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Ecclestone - Future / replacement Sept 4, 2016 11:18:53 GMT

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Post by Andrew 2.8i on Sept 4, 2016 11:18:53 GMT

According to Eddie Jordan, there is due to be an announcement on Tuesday that Liberty Media have acquired a large percentage of F1 shares. This will result in the retirement of Ecclestone with immediate effect.
Big news indeed, if it turns out to be true.

Liberty Media have been in discussion with CVC for several months, but it was previously thought that Ecclestone would continue in his current role.

Last Edit: Sept 4, 2016 11:21:38 GMT by Andrew 2.8i

Lee
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Ecclestone - Future / replacement Sept 4, 2016 16:25:57 GMT

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Post by Lee on Sept 4, 2016 16:25:57 GMT

Sept 4, 2016 11:18:53 GMT Andrew 2.8i said:

Very big news indeed.

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Lee
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Ecclestone - Future / replacement Sept 5, 2016 8:47:01 GMT

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Post by Lee on Sept 5, 2016 8:47:01 GMT

With reports that the sale of Formula 1 to the owner of Virgin Media - Liberty Media Corporation - are set to go through on Tuesday for £6.5bn, F1's current boss Bernie Ecclestone, says he will decide what role he takes under any new regime - will he have a choice?

That being said it is understood CVC is still negotiating with RSE Ventures - an investment firm run by Miami Dolphins owner Stephen Ross, who is working with a Qatari consortium, and another as yet unnamed private equity firm.

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Andrew 2.8i God Self confessed car geek! Posts: 1,813	Ecclestone - Future / replacement Sept 6, 2016 15:18:32 GMT Quote Select Post Deselect Post Link to Post Member Give Gift Back to Top Post by Andrew 2.8i on Sept 6, 2016 15:18:32 GMT No news yet........

Lee
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Ecclestone - Future / replacement Sept 7, 2016 8:51:49 GMT

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Post by Lee on Sept 7, 2016 8:51:49 GMT

Things like this have been predicted and talked about so many times before and then fallen through. However I suspect this time it may happen, after all not even Bernie Ecclestone can expect to go on forever.

Ecclestone has revealed that he has been asked to stay on should there be a takeover by Liberty Media. It is believed that a first instalment of a multi-billion-pound deal to buy CVC Partners’ controlling share in Formula 1 is expected to take place "very soon" which will give Liberty Media a third of CVC’s 35% stake in Formula 1’s parent company.

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Ecclestone - Future / replacement Sept 8, 2016 8:13:42 GMT

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Post by Lee on Sept 8, 2016 8:13:42 GMT

So Liberty Media has confirmed it is buying CVC Capital's shares in F1 for £3.3bn with Bernie Ecclestone remaining as chief executive and but Chase Carey will become the new chairman.

Liberty will initially hold a minority stake but a full takeover is planned if regulators approve the deal. The total transaction values the firm at $8bn but includes $4.1bn worth of F1's debt.

CVC has been criticised for taking considerable profits from the sport, which has suffered from falling TV ratings in recent years. Assuming European regulators approve the takeover, there will be a number of issues that the new owners will need to resolve.

Interesting times ahead!

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Andrew 2.8i
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Ecclestone - Future / replacement Sept 8, 2016 15:52:27 GMT

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Post by Andrew 2.8i on Sept 8, 2016 15:52:27 GMT

Sept 8, 2016 8:13:42 GMT Lee said:

CVC has been criticised for taking considerable profits from the sport, which has suffered from falling TV ratings in recent years.

To be fair, that's more to do with the direction that F1 is currently going in.
I doubt that will change much under the control of Liberty Media.

Lee
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Ecclestone - Future / replacement Sept 8, 2016 15:58:36 GMT

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Post by Lee on Sept 8, 2016 15:58:36 GMT

Sept 8, 2016 15:52:27 GMT Andrew 2.8i said:

Sept 8, 2016 8:13:42 GMT Lee said:

CVC has been criticised for taking considerable profits from the sport, which has suffered from falling TV ratings in recent years.

To be fair, that's more to do with the direction that F1 is currently going in.
I doubt that will change much under the control of Liberty Media.

Although I suspect they may have more up to date ways of exploiting the sport and making money - which they are at least suggesting some of which should be invested. clearly with a view to make even more long term!

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Ecclestone - Future / replacement

Post by Lee on Apr 26, 2016 8:48:25 GMT

Post by Andrew 2.8i on Apr 27, 2016 8:11:38 GMT

Post by Lee on Apr 27, 2016 8:22:02 GMT

Post by Andrew 2.8i on Apr 27, 2016 8:37:18 GMT

Post by Lee on May 5, 2016 11:43:53 GMT

Post by Andrew 2.8i on Sept 4, 2016 11:18:53 GMT

Post by Lee on Sept 4, 2016 16:25:57 GMT

Post by Lee on Sept 5, 2016 8:47:01 GMT

Post by Andrew 2.8i on Sept 6, 2016 15:18:32 GMT

Post by Lee on Sept 7, 2016 8:51:49 GMT

Post by Lee on Sept 8, 2016 8:13:42 GMT

Post by Andrew 2.8i on Sept 8, 2016 15:52:27 GMT

Post by Lee on Sept 8, 2016 15:58:36 GMT

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