• Jan 7, 2010
Bernie Ecclestone, the long-time Formula One impresario, has confirmed to Bloomberg that he plans to make a play to buy Saab from General Motors. The pitch is evidently part of the bid by Genii Capital that we told you about earlier today. Genii's last-minute pitch may have been the reason why GM decided to postpone a scheduled board meeting today to determine the Swedish brand's fate.

Ecclestone is clearly a capable business man in light of the billions that he's squeezed out of F1 over the past couple of decades. Whether he's able to translate that acumen into turning Saab into a profitable brand given its history of red ink remains to be seen. Of course, whether Ecclestone and Genii will get the chance in the first place is a more pressing question, as GM would appear to be every bit as likely to sell Saab to Spyker Cars, or perhaps just continue shutting down the brand altogether. Thanks for the tips, everyone.

[Source: Bloomberg | Image: Paul Gilham/Getty]


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  • 21 Comments
      • 5 Years Ago
      When it comes to creepy old white dudes, there's none more creepy than Bernie!
        • 5 Years Ago
        yes,
        but have you seen his daugthers?!!?!?! lol
      • 5 Years Ago
      if Bernie made Saabs...

      ...every year the cars would get slower or stranger, or both.

      ...the Viggen edition would be known as the "Max". extra cup holder included.

      ...red Saabs really would be faster. in fact Red Saabs would become mythical and sometimes be seen innocently parked next to accidents.

      ...they would never sell in USA. Not even in the middle of times square.

      ...owners would only drive in summer and only to race. winter would be known as "silly season."

      ...silly season would essentially involve owners threatening, attempting, preventing, cajoling, begging, scheming, and predicting to drive each others cars.

      ...there would be a never-ending unspoken contest that put the slowest driver in the fastest car, and the fastest driver in the slowest car, each year.

      ...if either won the championship, cars would be made slower the next year.

      ...the night panel button would make your car glow at night.
      • 5 Years Ago
      If Bernie gets a hold of Saab, you can expect new models to have incredible performance technology, but only AM radios in the dash.
      • 5 Years Ago
      Ok so the Anti-Christ wishes to buy Saab... interesting.
      • 5 Years Ago
      And we apparently now have 5 potential buyers for Saab.

      Spyker

      Genii

      Merbanco

      AWMS

      and Samuelsson/Nygren
      • 5 Years Ago
      the Saab story has so many twists and turns.
      • 5 Years Ago
      Fact. Bernie is a very capable business man. What anyone may think of him or his quirks is meaningless. He did not get rich by writing posts on AB or by being stupid. I say go for it and good luck.
        • 5 Years Ago
        +1

        if you read berny's live story, you'll see he was a mechanic some day.

        : )
      • 5 Years Ago
      This is how business happens, in the 21st century:

      with more drama than the Hills, Jersey Shore, and Project Runway combined...

      and with characters every bit as vapid.
      • 5 Years Ago
      Probably the same as Limbaugh in a group to buy a football team.
      That didn't turnout so well did it...
      • 5 Years Ago
      Comes a knight from Europe shouting "Here I come to save the day." No doubt, he'll fall off the horse and sink himself with poorly though out words and Tourette syndrome induced phases.

      Years from now you will hear the following: "Saab? Wasn't that a GM car or was it Swedish?
      • 5 Years Ago
      If he has anything to do with it, I definitely will never buy one...
        • 5 Years Ago
        My guess is he is basically a name attached to the bid. Even though he is wealthy enough to be a sole backer of such a bid, My guess is he may have something like a 5% stake in the venture, given that Genii is a pretty large PE firm in its own right.

        As a Saab driver and fan, I'd prefer Spyker winning the bidding war, provided their bid is sufficient, but given the most likely case that Ecclestone's overall stake is small, I wouldn't be against buying another Saab, even though I am not a fan him either.
      • 5 Years Ago
      Huh. I don't like him either, but it's not like he is going to design the future Saabs if this goes thru...
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