Autoblog http://www.autoblog.com Autoblog http://www.blogsmithmedia.com/www.autoblog.com/media/feedlogo.gif Autoblog http://www.autoblog.com en-us Copyright 2009 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Grand Primer: A dozen new teams lodge bids to enter F1]]>http://www.autoblog.com/2009/06/06/grand-primer-a-dozen-new-teams-lodge-bids-to-enter-f1/http://www.autoblog.com/2009/06/06/grand-primer-a-dozen-new-teams-lodge-bids-to-enter-f1/http://www.autoblog.com/2009/06/06/grand-primer-a-dozen-new-teams-lodge-bids-to-enter-f1/#commentsFiled under:



Whatever the outcome of the standoff between the Formula One Teams Association and the FIA, it was clear from the get-go that F1 was to change dramatically. As it turned out, the two parties - the first representing the teams currently participating in the sport and the second its governing body - have apparently reconciled their differences.

But as it turns out, even if all of the existing teams walked, the FIA would still have had a field of eager teams ready to take their place - that's one heck of a bargaining chip. One way or another, all indications are that the cost of running an F1 team will be drastically reduced in the near future, starting with next season. Lower costs mean easier access, and teams have been lining up by the dozen to take part in the new, more accessibly Formula One. Follow the jump to read all about 'em.

[Source: Autosport | Image: Mark Thompson/Getty]

Continue reading Grand Primer: A dozen new teams lodge bids to enter F1

Grand Primer: A dozen new teams lodge bids to enter F1 originally appeared on Autoblog on Sat, 06 Jun 2009 10:33:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>alex wurzAlexWurzaston martinAstonMartincamposcarlos slimCarlosSlimdavid richardsDavidRichardsepsilon euskadiEpsilonEuskadif1fiafomformtechformula 1formula oneformula one managementFormula1FormulaOneFormulaOneManagementisportlolamarchmike gascoyneMikeGascoynen.technologynick wirthNickWirthprodriveray mallockRayMallockteam superfundTeamSuperfundus gpeusf1UsGpeSat, 06 Jun 2009 10:33:00 EST<![CDATA[Once More, With Feeling: Second Lagonda concept coming in May]]>http://www.autoblog.com/2009/03/12/once-more-with-feeling-second-lagonda-concept-coming-in-may/http://www.autoblog.com/2009/03/12/once-more-with-feeling-second-lagonda-concept-coming-in-may/http://www.autoblog.com/2009/03/12/once-more-with-feeling-second-lagonda-concept-coming-in-may/#commentsFiled under: ,


Aston Martin Lagonda Concept - Click above for high-res gallery

If you were looking forward to Aston Martin's revival of the long-dormant Lagonda marque and were disappointed by the controversially-styled crossover concept unveiled earlier this month at the Geneva Motor Show, take heart: a second Lagonda concept is on the way. The news reportedly comes directly from the mouth of David Richards, chairman of Aston Martin-Lagonda's board, who admitted that the crossover concept was just one attempt, but that the company would be coming back with another in May. If you're wondering what major auto show is taking place in May, you can stop scratching your head: New York is in early April with Shanghai and Moscow to follow later the same month. That's it until the Frankfurt Motor Show in September. So unless Richards got his dates mixed up, the second Lagonda concept will be unveiled at its own dedicated event.

The bigger question is what form the next Lagonda concept will take. Reception towards the sport-ute concept at the Geneva show was rather puzzled, so our money is on some sort of sedan or wagon. AML won't want it to encroach on the upcoming Rapide, so don't expect some sort of four-door coupe, but with segments being busted all across the industry, anything is possible. We'll just have to wait a couple of months to find out.


Gallery: Geneva 2009: Aston Martin Lagonda Concept


[Source: Le Blog Auto]

Once More, With Feeling: Second Lagonda concept coming in May originally appeared on Autoblog on Thu, 12 Mar 2009 12:32:00 EST. Please see our terms for use of feeds.

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Aston Martin chairman David Richards has admitted that his company is in danger of a "technical breach of its banking covenants" sometime later this year. The situation could, technically, lead to the banks which financed the acquisition of the British sportscar-maker repossessing it.

Now we're not experts in finance. Not by any stretch of the imagination. So we couldn't tell you specifically what terms of the particular agreement between Aston's owners and its financial underwriters the company is in danger of breaching. But we take some comfort in the use of the contingent term "technical" in connection with the dire term "breach". At this point it would seem that the breach is only a possibility, not an eventuality, and that in such a circumstance the bank would have to be motivated to take control of the company. (We won't tell them if you don't.) But hopefully the Kuwaiti investors propping up Richards will work out a solution before it ever reaches that stage. Otherwise, Aston Martin could end up changing hands yet again.

[Source: The Sunday Times via WCF]

Technically Speaking: Aston Martin could be repossessed by banks originally appeared on Autoblog on Sat, 24 Jan 2009 13:06:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>aston martinaston martin banksaston martin financialAstonMartinAstonMartinBanksAstonMartinFinancialdavid richardsDavidRichardskuwaiti investorsKuwaitiInvestorsSat, 24 Jan 2009 13:06:00 EST<![CDATA[Prodrive/Aston chief David Richards considering Honda F1 buy-out]]>http://www.autoblog.com/2008/12/26/prodrive-aston-chief-david-richards-considering-honda-f1-buy-out/http://www.autoblog.com/2008/12/26/prodrive-aston-chief-david-richards-considering-honda-f1-buy-out/http://www.autoblog.com/2008/12/26/prodrive-aston-chief-david-richards-considering-honda-f1-buy-out/#commentsFiled under: , ,

What goes around comes around, or so the saying goes. This is certainly true for Prodrive's front-man David Richards, who never seems to be lacking for opportunities. Having run racing programs for Subaru, Aston Martin, BMW, Porsche, MG, Alfa Romeo, Ford and Ferrari - to name just a few - Richard's Prodrive outfit was contracted by Honda to run its Formula One program, then running under the BAR banner. Honda then decided to operate the team in-house, and Richards moved towards fielding his own entry. As it turns out, neither plan panned out, and Richards is now considering leading a consortium of investors to acquire the Honda team anew.

Similar to the deal that saw Richards take the reins at Aston Martin, the veteran racing guru is talking with Investment Dar about financing the operation. Of course, Richards would assume his old role as team principal, especially given his newfound free time since Subaru canceled its partnership with Prodrive in the World Rally Championship.

[Source: Autosport.com | Image: Andreas Rentz/Getty]

Prodrive/Aston chief David Richards considering Honda F1 buy-out originally appeared on Autoblog on Fri, 26 Dec 2008 17:01:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>david richardsdavid richards honda f1david richards prodriveDavidRichardsDavidRichardsHondaF1DavidRichardsProdrivehondahonda f1HondaF1prodriveprodrive hondaprodrive honda f1ProdriveHondaProdriveHondaF1Fri, 26 Dec 2008 17:01:00 EST<![CDATA[Aston Martin owners partnering with Mercedes on luxury brand]]>http://www.autoblog.com/2008/02/06/aston-martin-owners-partnering-with-mercedes-on-luxury-brand/http://www.autoblog.com/2008/02/06/aston-martin-owners-partnering-with-mercedes-on-luxury-brand/http://www.autoblog.com/2008/02/06/aston-martin-owners-partnering-with-mercedes-on-luxury-brand/#commentsFiled under: , , , ,

Faulty economy or not, top-end luxury purchases are on the rise, and the new owners of Aston Martin are looking to capitalize on the trend. Plans are in place to increase Aston production from 7,000 units in 2007 up to 8,000 in 2008, but the top-luxury automaker's new owners want more. DAR (owns 50% of Aston) business development manager Adham Charanoglu has met recently with Gucci, Louis Vuitton, and Daimler with regards to leveraging the Aston Martin brand with high end luxury products. While increasing merchandising revenue from $100m to up to $300m by whoring out the Aston name is nothing to sneeze at, we're mostly interested in the British automaker's conversations with Mercedes.

Charanoglu told Reuters that the two automakers could one day collaborate on everything from platforms to powertrains. It makes sense that Aston is looking to buddy up with another high-end automaker since minority owner Ford will soon be without Jaguar, so development costs could go up if Tata decides to break off ties. We're betting that only the high-end Mercedes products would be included in any partnership, though, as Aston likely won't dip below the $100,000 barrier, and an S-Class-based Aston could give Bentley fits. Rumor has it that Aston has already considered building the Rapide outside of Gaydon, so there's a chance that an Aston Mercedes could be built outside the UK.

[Source: Auto News, subs req'd]

Aston Martin owners partnering with Mercedes on luxury brand originally appeared on Autoblog on Wed, 06 Feb 2008 11:26:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>Aston MartinAstonMartinDavid RichardsDavidRichardsMercedes BendMercedesBendpart sharingPartSharingRapideWed, 06 Feb 2008 11:26:00 EST<![CDATA[McLaren and Prodrive sitting in a tree, R-A-C-I-N-G]]>http://www.autoblog.com/2007/10/03/mclaren-and-prodrive-sitting-in-a-tree-r-a-c-i-n-g/http://www.autoblog.com/2007/10/03/mclaren-and-prodrive-sitting-in-a-tree-r-a-c-i-n-g/http://www.autoblog.com/2007/10/03/mclaren-and-prodrive-sitting-in-a-tree-r-a-c-i-n-g/#commentsFiled under:

F1 panjandrums have been working all year on a suitable definition of the term "non-constructor." If they can get that done soon, and then figure out how to split F1 income among constructors and non, then Prodrive will officially join the 2008 F1 circus.

McLaren and Prodrive have recently signed a "detailed commercial agreement." However, it is being held up due to a lawsuit initiated by Spyker (and supported by Williams) that is now in arbitration. Spyker, an independent full constructor, has argued that allocation of income should be different for Toro Rosso and Super Aguri, since they essentially "buy" cars from other teams. The outcome of that will affect this year's income disbursements as well as next year's.

It isn't revealed yet just how much collaboration there will be between McLaren and Spyker on the chassis-engine package. Regardless, one just hopes McLaren will have a better experience with them than Red Bull and Honda have had with their respective "junior" teams.

[Source: Motor Authority]

McLaren and Prodrive sitting in a tree, R-A-C-I-N-G originally appeared on Autoblog on Wed, 03 Oct 2007 19:32:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>david richardsDavidRichardsf1 teamsF1Teamsformula 1 teamsFormula1Teamsmclarenmclaren prodrivemclaren prodrive fMclarenProdriveMclarenProdriveFprodriveprodrive mclaren agreementProdriveMclarenAgreementron dennisRonDennisWed, 03 Oct 2007 19:32:00 EST<![CDATA[Prodrive's F1 plans, Aston Martin team not in the cards, yet]]>http://www.autoblog.com/2007/04/14/prodrives-f1-plans-aston-martin-team-not-in-the-cards-yet/http://www.autoblog.com/2007/04/14/prodrives-f1-plans-aston-martin-team-not-in-the-cards-yet/http://www.autoblog.com/2007/04/14/prodrives-f1-plans-aston-martin-team-not-in-the-cards-yet/#commentsFiled under: ,

Purchasing a multi-million dollar automaker is a good excuse for not being able to concentrate on other matters, but according to Prodrive's team boss, David Richards, the 2008 Prodrive F1 team is, "perfectly on target."

Richards, who is currently in Bahrain after a business trip to Kuwait, took a few minutes to talk to reporters about the future of Prodrive's F1 efforts and the possibility of running an Aston Martin team in the future.

In short, Richards was mum on drivers, but confirmation about Prodrive's pilots, suppliers and sponsors is due during the British GP in Silverstone. The rumors of late include an engine and chassis provided by Ferrari, McLaren or Renault.

As for an Aston Martin team, Richards downplayed the idea, but gave the impression that something may come to fruition in the future.

[Source: TSN]

Prodrive's F1 plans, Aston Martin team not in the cards, yet originally appeared on Autoblog on Sat, 14 Apr 2007 11:47:00 EST. Please see our terms for use of feeds.

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Now that Ford is no longer in control of Aston Martin, AutoCar had a chat with new AM Chairman David Richards about the future of the no-longer-as-exclusive, but still very expensive British car maker. Richards made clear that Ulrich Bez is still very much in charge of day to day operations at Aston, and he represents the owners and helps plot strategy. The company that produced only a few hundred cars a year as recently as fifteen years ago is now closing in on five figure annual sales.

To help achieve that, a replacement for the Vanquish that's based on the DBS (above) that appeared in the last James Bond movie will be in production soon. Likewise, the four-door Rapide should be ready by 2009. The DB in Aston's model names stood for former owner David Brown, who rescued the company in the 1950s. Apparently Richards is not keen on the idea of changing the nomenclature to reflect his own initials, so future models will still be named for Mr. Brown.

[Source: AutoCar]

David Richards talks about Aston Martin's future originally appeared on Autoblog on Wed, 28 Mar 2007 17:31:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>David RichardsDavidRichardsDBSRapideWed, 28 Mar 2007 17:31:00 EST<![CDATA[It's done: Aston Martin sold for $925 million]]>http://www.autoblog.com/2007/03/12/its-done-aston-martin-sold-for-925-million/http://www.autoblog.com/2007/03/12/its-done-aston-martin-sold-for-925-million/http://www.autoblog.com/2007/03/12/its-done-aston-martin-sold-for-925-million/#commentsFiled under: ,

The deal is done, and it happened exactly the way everyone expected it to. Ford Motor Company has sold Aston Martin to a consortium led by Prodrive founder David Richards, Aston Martin collector John Sinders, and Investment Dar and Adeem Investment Co, two international investment companies headquartered in Kuwait. The sale price is for $925 million, and Ford will retain a $77 million stake in the sports car maker, which pegs the brand's worth at just over $1 billion which means Ford will actually get only $848 million for Aston Martin. Ford sounds pleased with the deal in the press release it issued this morning, stating Aston Martin is better off with a company that offer it more capital to work with. The deal is scheduled to hit the balance sheet in the second quarter, which means we might be seeing Ford temporarily in the black then because of this one-time special gain.

[Source: Ford]

Continue reading It's done: Aston Martin sold for $925 million

It's done: Aston Martin sold for $925 million originally appeared on Autoblog on Mon, 12 Mar 2007 10:53:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>ASTON MARTINGAstonMartingdavid richardsDavidRichardsfordprodrivesoldMon, 12 Mar 2007 10:53:00 EST<![CDATA[Aston Martin may sell for $100 million less than previously thought]]>http://www.autoblog.com/2007/03/09/aston-martin-about-to-sell-for-just-870-million/http://www.autoblog.com/2007/03/09/aston-martin-about-to-sell-for-just-870-million/http://www.autoblog.com/2007/03/09/aston-martin-about-to-sell-for-just-870-million/#commentsFiled under: , ,



The Detroit News just reported that the winning bid for Aston Martin might be a little lower than we originally thought. The group of investors led by Prodrive's David Richards is about to close the deal for about £450 million ($870 million). That's a full 10 percent lower than we just reported yesterday. The £500 million guess would have been half of Ford's initial asking price for the British luxury sports car maker. Whatever the final price, we still believe Ford will keep an interest in Aston Martin, as it is A-M's number one parts supplier. Also, Ulrich Bez should stay on as chief, despite having submitted his own bid for the company.

As the company already running the racing team for Aston-Martin, Prodrive would consolidate management and ownership of the company's headquarters, research and production facilities in Gaydon, England. Aston Martin is a small but valuable marque that has links to not only racing prowess, but to James Bond, as well. That image is priceless to some and apparently worth about $870 million to others.

[Source: The Detroit News]

Aston Martin may sell for $100 million less than previously thought originally appeared on Autoblog on Fri, 09 Mar 2007 15:07:00 EST. Please see our terms for use of feeds.

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Coming out of Geneva along with the exodus of automotive journalists are reports that a sale of Aston Martin is imminent, and that the likely winning bid has come from a consortium headed by Prodrive founder David Richards. The expected bid is rumored to be around $965,800,000 (£500,000), or about half of what Ford Motor Co. was hoping to get for its most premium of brands. Ford is expected to retain an interest in Aston Martin since it's still the brand's number one supplier of parts, and current chief Ulrich Benz, who himself submitted a bid to own the brand he runs, should remain in his position for the time being.

Despite the lower than hoped for selling price, Ford is reportedly pleased to have found a new owner with experience in the auto biz and an already-established connection to the Aston Martin brand. Prodrive runs Aston Martin's racing team and has been connected with the automaker in one way or another for many years, so the purchase indeed seems like a good fit. We'll let you know when word comes that the sale is final, which is expected before the end of the week.

[Source: Daily Telegraph via GMInsideNews]

Aston Martin sale almost a done deal, Prodrive founder in the lead originally appeared on Autoblog on Thu, 08 Mar 2007 13:32:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>aston martinAstonMartindavid richardsDavidRichardsPAGprodrivesaleThu, 08 Mar 2007 13:32:00 EST<![CDATA[FIA confirms 12 teams for 2008, Prodrive makes the cut]]>http://www.autoblog.com/2006/04/29/fia-confirms-12-teams-for-2008-prodrive-makes-the-cut/http://www.autoblog.com/2006/04/29/fia-confirms-12-teams-for-2008-prodrive-makes-the-cut/http://www.autoblog.com/2006/04/29/fia-confirms-12-teams-for-2008-prodrive-makes-the-cut/#commentsFiled under:

To no-one's surprise, the FIA announced Friday that Prodrive will join the existing 11 teams for the 2008 championship.

According to FIA President Max Mosley, Prodrive was selected as the 12th team because "Prodrive has the best combination of financial backing, technical capability and motorsport experience... Also, Prodrive's chief executive, David Richards has experience as a Formula One team principal."

In addition to the 11 existing teams, the FIA received applications from new teams vying for the 12th and final entry. Despite the heightened level of interest in Formula 1, Mosley indicated that the FIA were unlikely to increase the number of teams beyond the current limit of 12.

When asked about the newest team's plans, David Richards said, "An entry is just the beginning. We now have less than two years to build a team and put two competitive cars on the starting grid for the first race of the 2008 championship."

[Source: FIA, Prodrive]

FIA confirms 12 teams for 2008, Prodrive makes the cut originally appeared on Autoblog on Sat, 29 Apr 2006 09:09:00 EST. Please see our terms for use of feeds.

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