Autoblog http://www.autoblog.com Autoblog http://www.blogsmithmedia.com/www.autoblog.com/media/feedlogo.gif Autoblog http://www.autoblog.com en-us Copyright 2013 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Tamara Ecclestone's Lamborghini has gone missing]]>http://www.autoblog.com/2013/04/16/tamara-ecclestones-lamborghini-has-gone-missing/http://www.autoblog.com/2013/04/16/tamara-ecclestones-lamborghini-has-gone-missing/http://www.autoblog.com/2013/04/16/tamara-ecclestones-lamborghini-has-gone-missing/#commentsFiled under: , , , ,

Tamara Ecclestone in fur

A Lamborghini Aventador owned by socialite Tamara Ecclestone has disappeared from a garage in London where it was being serviced. The daughter of billionaire Formula One CEO Bernie Ecclestone reportedly purchased the car a couple of years ago from a dealer named Ziad Shawadi when she was dating businessman Omar Khyami. The supercar was put under Omar's name to secure a resident's parking permit, but it was registered to her Chelsea, London, address.

Tamara tried to sell the Lamborghini last summer after the couple split, but learned that her boyfriend had used the $400,000 exotic as collateral on a loan - and that set off a legal battle due for a hearing later this year.

But now the car has disappeared, and the culprits are alleged to be men working for Shawadi who have apparently repossessed it as a result of the outstanding loan. Ecclestone filed a complaint at a Notting Hill police station, but the authorities have said they won't be moving on this one. There has been no word on the fate of the parking permit.

Tamara Ecclestone's Lamborghini has gone missing originally appeared on Autoblog on Tue, 16 Apr 2013 16:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bernie ecclestoneecclestonelamborghinilamborghini aventadornotting hillomar khyamirepossessed cartamara ecclestoneTue, 16 Apr 2013 16:30:00 EST http://www.autoblog.com/feed/20542496/article-comments.xml http://www.autoblog.com/feed/2013/04/16/tamara-ecclestones-lamborghini-has-gone-missing/20542496/article-detail.xml 20542496 http://www.blogcdn.com/www.autoblog.com/media/2013/04/tamara-ecclestone-in-fur_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2013/04/tamara-ecclestone-in-fur.jpg <![CDATA[Ecclestone wonders if F1's upcoming turbo V6s should get augmented sound [w/videos]]]>http://www.autoblog.com/2013/04/08/ecclestone-wonders-if-f1s-upcoming-turbo-v6s-should-get-augment/http://www.autoblog.com/2013/04/08/ecclestone-wonders-if-f1s-upcoming-turbo-v6s-should-get-augment/http://www.autoblog.com/2013/04/08/ecclestone-wonders-if-f1s-upcoming-turbo-v6s-should-get-augment/#commentsFiled under: , , , , ,

Renault's 2014 Formula One engine - standalone view

While every team on the Formula One grid is worried about making a good showing in this year's championship at the same time as they develop a brand-new car for next year's championship, Bernie Ecclestone and F1 circuit promoters have a different concern: how next year's cars will sound. The current cars use 2.4-liter, naturally-aspirated V8s that can reach 18,000 revolutions per minute and employ dual exhaust, next year's engine formula calls for 1.6-liter turbocharged V6s that are capped at 15,000 rpm and are constrained to a single exhaust outlet. Ecclestone and promoters like Ron Walker believe the new engines sound like lawnmowers and that the less thrilling audio will keep people from coming to races. If Walker's Australian Grand Prix really is shelling out almost $57 million to hold the race, every ticket counts. As a fix, according to a report in Autoweek, Ecclestone "suggests that the only way to guarantee [a good sound] may be to artificially adjust the tone of the V6s."

However, neither the manufacturers nor the governing body of F1, the FIA, think there will be a problem. Ecclestone fears that if the manufacturers "don't get it right" they'll simply leave the sport, but the only three carmakers and engine builders left next year, Renault (its 2014 "power unit" is pictured), Mercedes-Benz and Ferrari are so embedded that it would stretch belief to think they'd leave the table over an audio hiccup - if said hiccup even occurs. And frankly, these issues always precede changes to engine formulas, as they did when the formula switched from V10 to V8; fans, though, are probably less focused on the engines and more on the mandated standardization of the sport and the spec-series overtones that have come with it.

No one knows yet what next year's engines will sound like, but we've assembled a few videos below to help us all start guessing. The first is an engine check on an Eighties-era John Player Special Renault with a 1.5-liter V6 turbo, after that is Ayrton Senna qualifying in 1986 in the Lotus 98T that also had a 1.5-liter V6 turbo, then you'll find a short with a manufactured range of potential V6 engine notes, and then the sound of turbocharged V6 Indycars testing last year at the Indianapolis Motor Speedway. Any, or none of them, could be Formula One's future.

Continue reading Ecclestone wonders if F1's upcoming turbo V6s should get augmented sound [w/videos]

Ecclestone wonders if F1's upcoming turbo V6s should get augmented sound [w/videos] originally appeared on Autoblog on Mon, 08 Apr 2013 09:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>1.6-liter turbo2014 formula one enginesbernie ecclestoneecclestonef1ferrariformula 1formula onemercedes-benzrenaultv6Mon, 08 Apr 2013 09:30:00 EST http://www.autoblog.com/feed/20532882/article-comments.xml http://www.autoblog.com/feed/2013/04/08/ecclestone-wonders-if-f1s-upcoming-turbo-v6s-should-get-augment/20532882/article-detail.xml 20532882 http://www.blogcdn.com/www.autoblog.com/media/2013/04/renaultf12014_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2013/04/renaultf12014.jpg <![CDATA[Ecclestone seeking many more US races for F1?]]>http://www.autoblog.com/2012/11/14/ecclestone-seeking-many-more-us-races-for-f1/http://www.autoblog.com/2012/11/14/ecclestone-seeking-many-more-us-races-for-f1/http://www.autoblog.com/2012/11/14/ecclestone-seeking-many-more-us-races-for-f1/#commentsFiled under:

Bernie Ecclestone with palm trees

Bernie Ecclestone is reportedly interested in adding more American Formula One races to the sport's schedule. The CEO was quoted as saying "America is about as big as Europe. So we should have the same number of races [in each]." Since next season will see a total of seven events on European soil, it would seem to indicate Ecclestone is keen to swell the number of American races significantly. The 2013 season was supposed to see US competitions with teams stopping in Austin, Texas at the new Circuit of the Americas and in New Jersey for a race on a public street course. The latter event has been cancelled until at least 2014 due to financial and time constraints.

F1 still doesn't draw nearly the attention in the US as it does elsewhere in the world, but sponsors are doubtlessly very aware of the sport's advertising potential in one of the world's largest auto markets. For now, Ecclestone is keeping his mouth shut about where future US races could be located.

Ecclestone seeking many more US races for F1? originally appeared on Autoblog on Wed, 14 Nov 2012 16:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bernie ecclestonecircuit of the americasecclestonef1f1 in the usformula 1formula oneus f1Wed, 14 Nov 2012 16:30:00 EST http://www.autoblog.com/feed/20379846/article-comments.xml http://www.autoblog.com/feed/2012/11/14/ecclestone-seeking-many-more-us-races-for-f1/20379846/article-detail.xml 20379846 http://www.blogcdn.com/www.autoblog.com/media/2012/11/bernie-ecclestone-with-palm-trees_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/11/bernie-ecclestone-with-palm-trees.jpg <![CDATA[Ecclestone pushing to dump Formula 1 turbo V6 plans]]>http://www.autoblog.com/2012/10/03/ecclestone-pushing-to-dump-formula-1-turbo-v6-plans/http://www.autoblog.com/2012/10/03/ecclestone-pushing-to-dump-formula-1-turbo-v6-plans/http://www.autoblog.com/2012/10/03/ecclestone-pushing-to-dump-formula-1-turbo-v6-plans/#commentsFiled under: ,

F1 boss Bernie Ecclestone with palm tree

Formula One boss Bernie Ecclestone is unhappy with his series' proposed engine change. SPEED is reporting that Ecclestone believes the introduction of the turbocharged V6 mill should be postponed or even dropped altogether.

While one may think the leading concern for the Ecclestone are the budgets tied to developing the new engines, his issue with the V6 is reportedly far more simple than that. No, Ecclestone has a problem with the way the turbocharged V6 powerplants sound.

The SPEED report notes Ecclestone's reaction: "I listened to the noise of the engines in Maranello the other day, the new engine and the old engine, and even (Ferrari President) Luca di Montezemolo said it sounded terrible."

As superficial of a qualm Ecclestone might have with the engine note, that whine of a high-revving V8 has become an integral part of the identify of F1 - it may be imprudent to meddle with with such an important part of the brand.

FIA president Jean Todt had previously stated that there will not be another delay in the rollout of the new powerplant, but Australian Grand Prix president and Ecclestone-ally Ron Walker says "The circuits will all support Bernie in his quest to keep the same engine, because it will mean great savings in the cost burden of running the sport."

Given that we are just 18 months from the start of the 2014 season, we will be anxious to see what the final decision is on engine formula - and how soon it is made. Ferrari, Mercedes-Benz, and Renault are not waiting around to find out what Bernie's decision is, as they are gradually converting their dynos over to V6 use and will continue to develop the new engine in the meantime.

Ecclestone pushing to dump Formula 1 turbo V6 plans originally appeared on Autoblog on Wed, 03 Oct 2012 10:59:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bernie ecclestoneecclestonef1fiaformula 1formula onejean todtturboturbo v6turbochargerv6 turboWed, 03 Oct 2012 10:59:00 EST http://www.autoblog.com/feed/20339696/article-comments.xml http://www.autoblog.com/feed/2012/10/03/ecclestone-pushing-to-dump-formula-1-turbo-v6-plans/20339696/article-detail.xml 20339696 http://www.blogcdn.com/www.autoblog.com/media/2012/10/f1-bernie-ecclestone-with-palm-tree_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/10/f1-bernie-ecclestone-with-palm-tree.jpg <![CDATA[Ecclestone claims contract torn up for Grand Prix of America]]>http://www.autoblog.com/2012/09/25/ecclestone-claims-contract-torn-up-for-grand-prix-of-america/http://www.autoblog.com/2012/09/25/ecclestone-claims-contract-torn-up-for-grand-prix-of-america/http://www.autoblog.com/2012/09/25/ecclestone-claims-contract-torn-up-for-grand-prix-of-america/#commentsFiled under: ,

F1 boss Bernie Ecclestone walking in front of tires

Another day, another drama with Bernie Ecclestone at the center. This time, it appears that the the Formula One CEO and the series' top brass have "torn up" the contract for New Jersey's Grand Prix of America. In a new report from The Guardian, Ecclestone claims that the race's organizers have missed deadlines, leading to the scrapping of the race.

The main concern since the announcement of the New Jersey race in October of last year has been its financials - that is, the ability for event organizers to raise the necessary funds to put on the race. While construction has begun on the circuit, a motorsports industry insider told the Guardian in the report, "pricing for sponsorship etc. is unrealistic and not obtainable in the current market."

Such high pricing could be motivated by the massive fees associated with hosting an F1 race. The ten-year contract for Grand Prix of America would have been for £150 million ($193.9 million USD) and an annual estimated fee of £15 million ($19.3 million). The 2013 provisional calendar for F1 showed the New Jersey race as subject to confirmation, and a lack of commitment to the race may have also scared away sponsors.

The Guardian says dissolution of the contract is a "big blow to F1." Ecclestone is reportedly moving on, looking for new suitors including a GP in Mexico. Ecclestone tells the Guardian, "After Mexico, we want to go to South Africa."

The Grand Prix of America, which was to take place on a 3.2-mile street course on the New Jersey side of the Hudson river was set for June of 2013. It appears that now that the United States Grand Prix is locked in for in Austin, Texas, New Jersey may well be passed over altogether.

Ecclestone claims contract torn up for Grand Prix of America originally appeared on Autoblog on Tue, 25 Sep 2012 17:44:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bernie ecclestonecircuit of americasecclestonef1formula 1formula onegrand prix of americaTue, 25 Sep 2012 17:44:00 EST http://www.autoblog.com/feed/20333091/article-comments.xml http://www.autoblog.com/feed/2012/09/25/ecclestone-claims-contract-torn-up-for-grand-prix-of-america/20333091/article-detail.xml 20333091 http://www.blogcdn.com/www.autoblog.com/media/2012/09/bernie-ecclestone-with-f1-tires_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/09/bernie-ecclestone-with-f1-tires.jpg <![CDATA[German state to float $312M loan guarantee for Nürburgring]]>http://www.autoblog.com/2012/08/02/german-state-to-float-312m-loan-guarantee-for-nurburgring/http://www.autoblog.com/2012/08/02/german-state-to-float-312m-loan-guarantee-for-nurburgring/http://www.autoblog.com/2012/08/02/german-state-to-float-312m-loan-guarantee-for-nurburgring/#commentsFiled under: , , ,

Nürburgring entrance gate

The government of the German state of Rhineland-Palatinate is set to make hundreds of million of euros available to the Nürburgring. This will guarantee that a loan be partially paid, making it possible for the Nürburgring to continue to operate.

According to Germany's Deutsche Welle, officials in the West German state came to the decision to keep the track afloat during a special meeting of the state legislature's budget and finance committee. The loan, in the amount of €254 million ($312 million) enables Nürburgring GmbH, who operates the track, to service a €330 million loan ($402M). That payment will allow the track to keep operating.

According to the report, several members of German government pushed for the delay of this move, citing that such a maneuver could be illegal under European law.

The wold-famous racetrack has fallen on hard times, and this bailout appears to be essential in its bid to stay afloat. The original loan taken out by the track's investors was to build a supporting mall and a roller coaster. Neither of these attractions has proven successful, leaving investors to plead for a bailout from the EU.

No word on how this will effect Formula One boss Bernie Ecclestone and his commitment to "do everything" to save the 'Ring. If still committed, it likely just became a $312 million more manageable undertaking for Bernie to do so.

German state to float $312M loan guarantee for Nürburgring originally appeared on Autoblog on Thu, 02 Aug 2012 17:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>ecclestonenürburgringnürburgring loannurburgringrhinelandrhineland-palatinateThu, 02 Aug 2012 17:30:00 EST http://www.autoblog.com/feed/20292073/article-comments.xml http://www.autoblog.com/feed/2012/08/02/german-state-to-float-312m-loan-guarantee-for-nurburgring/20292073/article-detail.xml 20292073 http://www.blogcdn.com/www.autoblog.com/media/2012/08/nurburgring-gate-1343940665_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/08/nurburgring-gate-1343940665.jpg <![CDATA[Ecclestone may buy Nürburgring outright]]>http://www.autoblog.com/2012/07/27/ecclestone-may-buy-nurburgring-outright/http://www.autoblog.com/2012/07/27/ecclestone-may-buy-nurburgring-outright/http://www.autoblog.com/2012/07/27/ecclestone-may-buy-nurburgring-outright/#commentsFiled under: ,

F1 boss Bernie Ecclestone suited up

Bernie Ecclestone was apparently quite serious when he said he would "do everything" to save the troubled Nürburgring. In fact, according to a new report from Bloomberg Businessweek, the megalomaniacal Formula One boss might just buy the track outright. That'd certainly be a quick answer to the 'Ring's financial troubles.

That said, Bloomberg reports that Ecclestone has no plans to organize a Formula One race on the Nürburgring at his own expense. Furthermore, Ecclestone has declined to comment on pricing or conditions for the alleged agreement.

The Nürburgring's severe debt crisis is hardly news - the legendary track has been going through hard times for a while now, despite efforts to boost revenue by building a roller coaster and shopping mall on the premises. The European Union has refused to bail out the ailing track, as well, specifically because it has bigger fish to fry at the moment (you know, like the declining economies of many of its countries).

A timetable for a potential sale of the Nürburgring to Ecclestone has not been disclosed.

Ecclestone may buy Nürburgring outright originally appeared on Autoblog on Fri, 27 Jul 2012 13:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bernie ecclestoneecclestonef1formula 1formula onenürburgringnurburgringFri, 27 Jul 2012 13:00:00 EST http://www.autoblog.com/feed/20287778/article-comments.xml http://www.autoblog.com/feed/2012/07/27/ecclestone-may-buy-nurburgring-outright/20287778/article-detail.xml 20287778 http://www.blogcdn.com/www.autoblog.com/media/2012/07/131958482_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/07/131958482.jpg <![CDATA[Ecclestone may face 10-year sentence over F1 bribery charges]]>http://www.autoblog.com/2012/06/25/ecclestone-may-face-10-year-sentence-over-f1-bribery-charges/http://www.autoblog.com/2012/06/25/ecclestone-may-face-10-year-sentence-over-f1-bribery-charges/http://www.autoblog.com/2012/06/25/ecclestone-may-face-10-year-sentence-over-f1-bribery-charges/#commentsFiled under: , , , , ,

Bernie Ecclestone, F1 boss in Monaco

Formula One CEO Bernie Ecclestone should expect Germany to file charges against the executive over his alleged bribery of former banker Gerhard Gribkowsky. That's according to Autoweek, which notes Gribkowsky oversaw the sale of BayernLB's stake in the racing series back in 2006 to CVC Capital Partners, which now holds F1's controlling interest.

According to the report, Gribkowsky has testified that he received $44 million in payments from Ecclestone while he was deputy chief of Bayern Landesbank. The banker's testimony indicated the payments were intended to keep him from sharing details of the motorsports organization with UK authorities, which could have, in turn, led to a tax investigation. Gribkowsky testified in exchange for a reduced sentence in his own trial for receiving corrupt payments, tax evasion and breach of trust.

Seven months ago, Ecclestone himself testified under immunity that if Gribkowsky had alerted the UK, F1 could have been made to pay more than $3.14 billion in related taxes. Now, Autoweek reports Ecclestone can likely expect to see an international arrest warrant with his name on it, along with an extradition request. If convicted of bribery, the F1 boss could face up to 10 years in prison.

Ecclestone may face 10-year sentence over F1 bribery charges originally appeared on Autoblog on Mon, 25 Jun 2012 09:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bayern landesbankbayern lbbayernlbbernie ecclestonebernie ecclestone bribebribebriberycvc capital partnersecclestonef1formula onegerhard gribkowskyMon, 25 Jun 2012 09:30:00 EST http://www.autoblog.com/feed/20265244/article-comments.xml http://www.autoblog.com/feed/2012/06/25/ecclestone-may-face-10-year-sentence-over-f1-bribery-charges/20265244/article-detail.xml 20265244 http://www.blogcdn.com/www.autoblog.com/media/2012/06/bernie-ecclestone-in-monaco_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/06/bernie-ecclestone-in-monaco.jpg <![CDATA[Bernie Ecclestone facing legal scuffle after ex-banker admits accepting bribes]]>http://www.autoblog.com/2012/06/21/bernie-ecclestone-facing-legal-scuffle-after-ex-banker-admits-ac/http://www.autoblog.com/2012/06/21/bernie-ecclestone-facing-legal-scuffle-after-ex-banker-admits-ac/http://www.autoblog.com/2012/06/21/bernie-ecclestone-facing-legal-scuffle-after-ex-banker-admits-ac/#commentsFiled under: , , , ,

Bernie Ecclestone

The BBC reports a former banker has testified to receiving $44 million in bribes from Formula One CEO Bernie Ecclestone. Gerhard Gribkowsky, the former deputy chief of regional bank Bayern Landesbank, testified in exchanged for a reduced sentence in the case against him. Gribkowsky faced up to 15 years in prison on charges of corruption and abuse of trust. Prosecutors agreed to reduce his maximum penalty to nine years behind bars in exchange for his testimony. Gribkowsky was in charge of the sale of BayernLB's stake in F1 back in 2006.

Seven months ago, Ecclestone testified under immunity that he had paid Gribkowsky in order to avoid a tax inquiry by the United Kingdom. The F1 executive denies that the payments were bribes, but says that if he had not paid, Gribkowsky would have told UK tax authorities about issues with the sale that could have led to an inquiry. That investigation could have cost more than $3.14 billion.

Bernie Ecclestone facing legal scuffle after ex-banker admits accepting bribes originally appeared on Autoblog on Thu, 21 Jun 2012 17:29:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bernie ecclestonebribeecclestoneecclestone bribef1f1 bribeformula onegerhard gribkowskyThu, 21 Jun 2012 17:29:00 EST http://www.autoblog.com/feed/20263195/article-comments.xml http://www.autoblog.com/feed/2012/06/21/bernie-ecclestone-facing-legal-scuffle-after-ex-banker-admits-ac/20263195/article-detail.xml 20263195 http://www.blogcdn.com/www.autoblog.com/media/2012/06/bernie-ecclestone_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/06/bernie-ecclestone.jpg <![CDATA[CVC sells off 21 percent of Formula One]]>http://www.autoblog.com/2012/06/20/cvc-sells-off-21-percent-of-formula-one/http://www.autoblog.com/2012/06/20/cvc-sells-off-21-percent-of-formula-one/http://www.autoblog.com/2012/06/20/cvc-sells-off-21-percent-of-formula-one/#commentsFiled under: ,

F1 boss Bernie Ecclestone at Canadian GP

It may be a while before Bernie Ecclestone is successful in his plans to float Formula One on the Singapore Stock Exchange, but that doesn't mean that he and his employers at CVC Capital Partners can't begin selling off chunks of their business.

Out of a valuation of $9.1 billion, CVC sold off $1.6 billion worth of Formula One to funds managed by Waddell & Reed Investment Management and Ivy Investment Management last month. That amount was augmented this week by another half-billion, bringing their total investment (and CVC's divestment) up to 20.9 percent, or $2.1 billion.

Because the buyers are primarily interested in the financial value of the business and presumably less in its day-to-day operation, we wouldn't expect much to change in how F1 is run. However, we wouldn't be surprised to see Formula One Management take a more proactive approach to marketing and promoting the series if the new shareholders are interested in capitalizing on their investment.

CVC sells off 21 percent of Formula One originally appeared on Autoblog on Wed, 20 Jun 2012 10:32:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>cvccvc capitalcvc capital partnersecclestonef1formula 1formula oneformula one managementipoivy investment managementwaddell and reedWed, 20 Jun 2012 10:32:00 EST http://www.autoblog.com/feed/20260553/article-comments.xml http://www.autoblog.com/feed/2012/06/20/cvc-sells-off-21-percent-of-formula-one/20260553/article-detail.xml 20260553 http://www.blogcdn.com/www.autoblog.com/media/2012/06/bernie-ecclestone-suited-up_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/06/bernie-ecclestone-suited-up.jpg <![CDATA[Yellow-Flagged: Formula One's French Grand Prix and IPO potentially on hold]]>http://www.autoblog.com/2012/05/15/yellow-flagged-formula-ones-french-grand-prix-and-ipo-potentia/http://www.autoblog.com/2012/05/15/yellow-flagged-formula-ones-french-grand-prix-and-ipo-potentia/http://www.autoblog.com/2012/05/15/yellow-flagged-formula-ones-french-grand-prix-and-ipo-potentia/#commentsFiled under:



It is exceptionally rare for Bernie Ecclestone to be shown the yellow flag when it comes to his Formula One business dealings, but that's what happened with two of his projects. A month ago, Ecclestone agreed to terms with France's sports minister David Douillet to reinstate the French Grand Prix at the Paul Ricard circuit (which Ecclestone happens to own). The contract hadn't been signed while minor details were settled, but the plan was that the French GP would alternate with the Belgian GP starting in 2013.

However, with the defeat of French president Nicolas Sarkozy and the election of François Hollande, new reports suggest that everything from the previous regime will come under review. And it seems unlikely that Hollande, who was voted in by taxpayers who wanted more for their money and their economic pain, will agree to have the state subsidize the race. Said the president-elect, "I do not think the French state should be responsible for any financial outlay. There are enough issues to consider without spending tens of millions of euros on a grand prix."

And across the world in Singapore, the GP is safe but the planned F1 Initial Public Offering in the nation-state now has a question mark after it. The squalls in the market that have depressed stock markets everywhere have IPO insiders cautious on the endeavor. Word is that they'll see how the imminent Facebook IPO fares and how the market responds before making a decision. There is also the matter of the Mercedes-Benz not having signed the Concorde Agreement, and Daimler says it needs to get that settled before F1 can go public. According to Reuters, if the offering isn't conducted by June then it - and the estimated $2 billion it is expected to raise - might have to wait until next year.

Yellow-Flagged: Formula One's French Grand Prix and IPO potentially on hold originally appeared on Autoblog on Tue, 15 May 2012 13:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bernie ecclestonecvccvc capital partnersecclestonef1f1 ipoformula 1formula onefrançois hollandefrench grand prixinitial public offeringiponicolas sarkozysingaporeTue, 15 May 2012 13:30:00 EST http://www.autoblog.com/feed/20237414/article-comments.xml http://www.autoblog.com/feed/2012/05/15/yellow-flagged-formula-ones-french-grand-prix-and-ipo-potentia/20237414/article-detail.xml 20237414 http://www.blogcdn.com/www.autoblog.com/media/2012/05/bernie-ecclestone-with-palm-1337094809_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/05/bernie-ecclestone-with-palm-1337094809.jpg <![CDATA[Ecclestone mulling tennis-style Grand Slam races for F1]]>http://www.autoblog.com/2012/04/20/ecclestone-mulling-tennis-style-grand-slam-races-for-f1/http://www.autoblog.com/2012/04/20/ecclestone-mulling-tennis-style-grand-slam-races-for-f1/http://www.autoblog.com/2012/04/20/ecclestone-mulling-tennis-style-grand-slam-races-for-f1/#commentsFiled under: ,

Bernie Ecclestone

Ever get the feeling that not every grand prix on the Formula One calendar should be worth as much as every other? Aside from the bragging points that go with winning a race like, say, the Monaco Grand Prix, maybe the most prominent races should be worth more championship points, too? So says Bernie Ecclestone, according to the latest reports.

The notoriously outspoken F1 supremo is always hatching new ideas on how to make the series more interesting, and his latest borrows from the world of competitive tennis. The four most important tournaments on the tennis circuit - the Australian Open, French Open, U.S. Open and Wimbledon - are not only more prominent in every way than any other, but they're also worth more points for the players who win them.

Since the current calendar of 20 races is the most F1 has ever seen and regarded as the most it could possibly accommodate, could awarding more points for a handful of iconic races be what the proverbial doctor ordered to mix things up? Maybe, but identifying which races would get the honor would be another matter. Out of 20 races, we'd pick Australia, Japan, Britain, Monaco, Canada and Brazil as the likely candidates. Is this a good idea? Have your own list in mind? Let's hear your thoughts in Comments.

Ecclestone mulling tennis-style Grand Slam races for F1 originally appeared on Autoblog on Fri, 20 Apr 2012 15:29:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bernie ecclestoneecclestonef1formula 1formula onegrand slamtennisFri, 20 Apr 2012 15:29:00 EST http://www.autoblog.com/feed/20219872/article-comments.xml http://www.autoblog.com/feed/2012/04/20/ecclestone-mulling-tennis-style-grand-slam-races-for-f1/20219872/article-detail.xml 20219872 http://www.blogcdn.com/www.autoblog.com/media/2012/04/ecclestone-media_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/04/ecclestone-media.jpg <![CDATA[F1 race in New Jersey could be postponed]]>http://www.autoblog.com/2012/04/17/f1-race-in-new-jersey-could-be-postponed/http://www.autoblog.com/2012/04/17/f1-race-in-new-jersey-could-be-postponed/http://www.autoblog.com/2012/04/17/f1-race-in-new-jersey-could-be-postponed/#commentsFiled under: ,

New Jersey Governor Chris Christie at grand prix press conference

After years of doing without a grand prix in the United States altogether, Formula One is gearing up to return to these shores in a big way. The United States Grand Prix is set to take place later this year at the newly constructed Circuit of the Americas in Austin, Texas. And next year, the Grand Prix of America is scheduled to join the calendar in New Jersey, just across the river from Manhattan. But will the Jersey race be ready in time?

According to the latest reports, that second grand prix in the U.S. could be pushed off until 2014. This according to a quote attributed to Bernie Ecclestone, the man who orchestrates the commercial aspects of the sport - including where the races are held.

While he was at it, Ecclestone also reportedly indicated that the French Grand Prix will be back on the calendar within the next couple of years. But rather than holding it at Magny-Cours where it was held from 1991 through 2008, the renewed French Grand Prix - absent from the calendar every year since - will go back to the Paul Ricard circuit where it was held in the 70s and 80s (a track which Ecclestone just happens to own himself).

The arrangement will, according to reports, alternate year-to-year with the Belgian Grand Prix at Spa.

F1 race in New Jersey could be postponed originally appeared on Autoblog on Tue, 17 Apr 2012 18:20:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>ecclestonef1formula 1formula onefrench grand prixgrand prix of americanew jerseynew jersey gpnew yorkpaul ricardpaul ricard htttTue, 17 Apr 2012 18:20:00 EST http://www.autoblog.com/feed/20217829/article-comments.xml http://www.autoblog.com/feed/2012/04/17/f1-race-in-new-jersey-could-be-postponed/20217829/article-detail.xml 20217829 http://www.blogcdn.com/www.autoblog.com/media/2012/04/christie-jerseygp_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/04/christie-jerseygp.jpg <![CDATA[CVC gearing up to sell 20% of Formula One with $2B Singapore IPO]]>http://www.autoblog.com/2012/04/10/cvc-gearing-up-to-sell-20-of-formula-one-with-2b-singapore-ipo/http://www.autoblog.com/2012/04/10/cvc-gearing-up-to-sell-20-of-formula-one-with-2b-singapore-ipo/http://www.autoblog.com/2012/04/10/cvc-gearing-up-to-sell-20-of-formula-one-with-2b-singapore-ipo/#commentsFiled under: ,

Bernie Ecclestone in Singapore

Formula One has many homes: the Formula One Management company that controls its commercial aspects is based in London, the FIA that governs its sporting aspects is based in Paris, and you'd certainly have a point to make if you asserted its spiritual home was in Monaco. But none of these places are where its stakeholders are looking to float its Initial Public Offering. No, that place is Singapore.

CVC Capital Partners - the investment group that owns the majority of Formula One - has been toying with floating an IPO on the Singapore Stock Exchange for several weeks now, and according to reports is gearing up for the move. Both Bloomberg and Reuters are expecting that the stock issue would constitute about 20% of the business, likely to come mostly out of CVC's end which amounts to 63.4 percent, and not that of its manager Bernie Ecclestone whose stake comes to 5.3%. (Lehman Brothers holds another 15.3%, Ecclestone's ex-wife Slavica owns 8.5%, with the remaining 7.5% divided up between various minority investors.)

With the overall value of the business estimated at $10 billion, the 20% tipped to be offered on the open market is expected to bring in $2 billion in capital for its sellers, however CVC could opt for the minimum 15% to raise $15 billion. So... why Singapore? The vital Asian business capital has apparently been chosen to help F1 drum up support in the Far East, a region where grands prix are held in Malaysia, China, Japan, South Korea and Singapore itself.

CVC gearing up to sell 20% of Formula One with $2B Singapore IPO originally appeared on Autoblog on Tue, 10 Apr 2012 18:31:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bernie ecclestonecvccvc capital partnersecclestonef1formula 1formula oneinitial public offeringiposingaporeTue, 10 Apr 2012 18:31:00 EST http://www.autoblog.com/feed/20212504/article-comments.xml http://www.autoblog.com/feed/2012/04/10/cvc-gearing-up-to-sell-20-of-formula-one-with-2b-singapore-ipo/20212504/article-detail.xml 20212504 http://www.blogcdn.com/www.autoblog.com/media/2012/04/ecclestone-singapore_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/04/ecclestone-singapore.jpg <![CDATA[Demonstrations in Bahrain take fatal turn, spur F1 protests *UPDATE]]>http://www.autoblog.com/2012/04/02/f1-protests-in-bahrain-take-fatal-turn/http://www.autoblog.com/2012/04/02/f1-protests-in-bahrain-take-fatal-turn/http://www.autoblog.com/2012/04/02/f1-protests-in-bahrain-take-fatal-turn/#commentsFiled under: , ,

Bahrain F1 protests turn violent

Protesters in Bahrain continue to push for democratic reforms in the country, and police have stepped up a brutal crackdown ahead of the upcoming Formula One Bahrain Grand Prix. Last year, unrest forced F1 to cancel the race, but Bernie Ecclestone, president and CEO of the series, has said that won't happen in 2012. Protestors have turned their ire against F1 organizers, saying the race belittles the strife and sacrifices of those working toward democracy. In an attempt to quell the demonstrations, plainclothes police have reportedly responded with violence. Crowds have faced tear gas and rubber bullets as well as live rounds. At least one protestor died in the fray.

The movement has rallied around the death. Twitter has played host to a campaign to cancel the race with the hashtags #BloodyF1 and #NoF1 gaining popularity. One video commentator said, "Do not tarnish the reputation of the respected auto sport with the blood of Bahrain victims."

Bahrain is currently controlled by the Sunni Al-Khalifa dynasty.

*UPDATE: As a point of clarification, Ahmed Ismael Abulsamed, the demonstrator who was shot and died of his injuries, was originally protesting for democratic reform, not against the F1 race.

Demonstrations in Bahrain take fatal turn, spur F1 protests *UPDATE originally appeared on Autoblog on Mon, 02 Apr 2012 18:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bahrainbahrain f1bahrain gpbahrain grand prixbahrain protestsbernie ecclestoneecclestonef1formula onesunni al-khalifatwitterMon, 02 Apr 2012 18:00:00 EST http://www.autoblog.com/feed/20206755/article-comments.xml http://www.autoblog.com/feed/2012/04/02/f1-protests-in-bahrain-take-fatal-turn/20206755/article-detail.xml 20206755 http://www.blogcdn.com/www.autoblog.com/media/2012/04/bahrain-gp-protests_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/04/bahrain-gp-protests.jpg <![CDATA[Mercedes ponders exiting F1 racing over commercial deal]]>http://www.autoblog.com/2012/03/26/mercedes-ponders-exiting-f1-racing-over-commercial-deal/http://www.autoblog.com/2012/03/26/mercedes-ponders-exiting-f1-racing-over-commercial-deal/http://www.autoblog.com/2012/03/26/mercedes-ponders-exiting-f1-racing-over-commercial-deal/#commentsFiled under: , , ,

Shaking it up at Mercedes AMG F1

Formula One may, to outsiders, seem like a monolith, but it is in fact a gathering of rather disparate parties. There's the FIA which governs the series from a sporting standpoint, there's the collective of teams competing in the series, and Formula One Management, the company that holds the sport's commercial rights under the direction of one Bernie Ecclestone. The only way they all get along is through the terms of the Concorde Agreement - the contract that divides up the spoils, namely television revenues and prize cash, between the parties. And that contract is coming up for renewal.

Ecclestone is eager to please the teams and get them to sign what will become the seventh Concorde Agreement when the current one expires at the end of the year. And to get there, rather than negotiate with all the teams equally, Bernie has been offering big incentives to certain teams. Those include in particular Ferrari, McLaren and Red Bull - the teams which have, in the past dozen years or more, accounted for the lion's share of the titles (both drivers and constructors). F1 would suffer a tremendous blow if any of these teams were to leave, so Ecclestone has reportedly offered them such incentives as cash bonuses, shares in Formula One Management and seats on its board, and performance incentives that would in theory be open to any team that achieves them but would in practice favor those three top team.

One team being left out of those incentives is Mercedes, one of the largest automakers participating in the sport - running its own team and supplying engines to two more (including McLaren), not to mention the safety and medical cars used at each grand prix. According to The Telegraph, Mercedes is now threatening to take legal action under European competition laws (regulations that are formulated to prevent the abuse of a dominant position) if it gets left out of the incentives being offered to other top teams. Ecclestone may be forced to cave to Mercedes' demands, lest he find himself back in court while losing a top team and engine supplier from his roster.

Mercedes ponders exiting F1 racing over commercial deal originally appeared on Autoblog on Mon, 26 Mar 2012 14:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bernie ecclestoneconcorde agreementecclestonef1formula 1formula onemercedesmercedes amgmercedes gpmercedes-benzMon, 26 Mar 2012 14:30:00 EST http://www.autoblog.com/feed/20200949/article-comments.xml http://www.autoblog.com/feed/2012/03/26/mercedes-ponders-exiting-f1-racing-over-commercial-deal/20200949/article-detail.xml 20200949 http://www.blogcdn.com/www.autoblog.com/media/2012/03/mercgp-shakeup_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/03/mercgp-shakeup.jpg <![CDATA[Last-minute deal saves 2012 United States Grand Prix in Austin]]>http://www.autoblog.com/2011/12/07/last-minute-deal-saves-2012-united-states-grand-prix-in-austin/http://www.autoblog.com/2011/12/07/last-minute-deal-saves-2012-united-states-grand-prix-in-austin/http://www.autoblog.com/2011/12/07/last-minute-deal-saves-2012-united-states-grand-prix-in-austin/#commentsFiled under: ,

United States Grand Prix

Everything is bigger in Texas. So it's appropriate that the hubbub surrounding the imminent return of the United States Grand Prix to the Lonestar State should come down to a big last-minute deal.

As you may recall, Formula One was set to come to Austin next year at a new track complex currently being built. However, construction on the Circuit of the Americas came to a halt after F1 chief Bernie Ecclestone expressed his doubts that they'd be able to pull it off. The problem apparently came down to public funding, which was reportedly delayed when the state comptroller told organizers they'd have to wait. With the $25 million bond due to Ecclestone's Formula One Management this week, an undisclosed last-minute deal has reportedly come through to get Bernie his money.

As a result, race organizers have reportedly secured the event's place on next year's calendar as planned, and construction will reportedly resume immediately now that the deal is a go. Somehow, we doubt this will be the last hiccup along the path of bringing Europe's favorite racing series to Texas, but for now it looks like everything is racing ahead.

Last-minute deal saves 2012 United States Grand Prix in Austin originally appeared on Autoblog on Wed, 07 Dec 2011 11:31:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>austinbernie ecclestonecircuit of the americasecclestonef1formula 1formula onetexasunited states gpunited states grand prixus grand prixusgpWed, 07 Dec 2011 11:31:00 EST http://www.autoblog.com/feed/20122659/article-comments.xml http://www.autoblog.com/feed/2011/12/07/last-minute-deal-saves-2012-united-states-grand-prix-in-austin/20122659/article-detail.xml 20122659 http://www.blogcdn.com/www.autoblog.com/media/2011/12/austinf1-logo_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2011/12/austinf1-logo.jpg <![CDATA[Ecclestone casts doubts on Austin F1 race in 2012]]>http://www.autoblog.com/2011/11/15/ecclestone-casts-doubts-on-austin-f1-race-in-2012/http://www.autoblog.com/2011/11/15/ecclestone-casts-doubts-on-austin-f1-race-in-2012/http://www.autoblog.com/2011/11/15/ecclestone-casts-doubts-on-austin-f1-race-in-2012/#commentsFiled under:

Bernie Ecclestone

After a five-year absence, the United States is set to gain two Formula One races within the next two years: one in Austin, Texas, and another in New Jersey. But recent comments vocalized by F1's ever-outspoken commercial chief Bernie Ecclestone have cast doubt on the former.

Speaking at this past weekend's Abu Dhabi Grand Prix, Ecclestone has been quoted as saying that progress on building the Circuit of the Americas that's set to host the United States Grand Prix next year is lagging behind schedule. According to the ESPN report, Ecclestone says the relevant parties behind the project on the ground have "forgotten to talk to each other."

Does that mean the race won't happen? Hardly. Setbacks, of course, happen all the time with construction projects like this one, and similar concerns have been expressed over new venues such as the Indian Grand Prix, the Korean Grand Prix and the aforementioned Abu Dhabi Grand Prix that have been successively added to the calendar over the past three years.

The American race, however, isn't the only one who's future is in doubt. Financial concerns stand to cancel the Turkish Grand Prix next season, and after political unrest caused the removal of the Bahrain Grand Prix from this year's calendar, there's no telling what continuing tumult in the Middle East could mean for the prospect of F1 racing there.

Ecclestone casts doubts on Austin F1 race in 2012 originally appeared on Autoblog on Tue, 15 Nov 2011 15:30:00 EST. Please see our terms for use of feeds.

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Bernie Ecclestone

Formula One boss Bernie Ecclestone may find himself in legal trouble in Germany over allegations that he bribed a bank official $50 million. According to Yahoo Sports' European arm, prosecutors are currently gathering evidence against the F1 honcho.

The would-be charges center around the deal that led CVC Capital Partners to own F1. The courts say that Gerhard Gribkowsky, who worked with CVC Capital Partners, deposited $50 million into an Austrian account in order to avoid paying taxes on the funds. Prosecutors are currently trying to tie Eccelstone, who is currently employed by CVC as the head of F1, to that money.

Not surprisingly, Eccelstone is denying the accusations, saying that he's done everything in his power to work with investigators on the matter, but that as far as he knows, there are no problems. Gribkowsky, meanwhile, is currently being held in jail on charges of tax evasion, corruption and fraud.

F1's Ecclestone to face $50M bribery charges? originally appeared on Autoblog on Thu, 21 Jul 2011 09:29:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bernie ecclestonebernie ecclestone bribebribebriberycvc capital partnersecclestonef1formula onegerhard gribkowskyThu, 21 Jul 2011 09:29:00 EST http://www.autoblog.com/feed/19995727/article-comments.xml http://www.autoblog.com/feed/2011/07/21/f1s-ecclestone-to-face-50m-bribery-charges/19995727/article-detail.xml 19995727 http://www.blogcdn.com/www.autoblog.com/media/2011/03/gyi0060177158_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2011/03/gyi0060177158.jpg <![CDATA[Grand Prix promoters threaten switch to Indy, Ecclestone to sue over new F1 engines?]]>http://www.autoblog.com/2011/07/06/grand-prix-promoters-threaten-switch-to-indy-ecclestone-to-sue/http://www.autoblog.com/2011/07/06/grand-prix-promoters-threaten-switch-to-indy-ecclestone-to-sue/http://www.autoblog.com/2011/07/06/grand-prix-promoters-threaten-switch-to-indy-ecclestone-to-sue/#commentsFiled under: , ,

Bernie Ecclestone

The world of Formula One racing is being torn in two. On one side are forces like Renault and the FIA who want to see F1 moving towards more environmentally conscious means of propulsion. On the other are parties like Ferrari, the race promoters and Bernie Ecclestone that are more concerned about abandoning the elements that make grands prix the spectacle that they are.

The FIA recently approved a new engine formula that will see the sport switching from its current V8 engines to V6 turbos, which will also cut the rev limiter from 18,000 rpm down to 15,000. As a result, the commercial side of the sport is growing concerned that the screeching noise that has become associated with F1 racing will mean lower ticket sales. And ticket sales are the only way for local racers promoters to raise the millions demanded by Bernie Ecclestone for the right to host a grand prix.

In fact, according to ESPN, some of the race promoters are threatening to jump ship and hold IndyCar racers instead. With the series once again reunited and new engine suppliers expected to move in, Indy is hoping it can retake its place as the next viable alternative to F1.

For his part, Ecclestone can hardly blame them, and says that if the new engine regulations result in a drop in ticket sales, he could hardly hold the race promoters at fault. So what recourse would he have? Sue the FIA for loss of revenue. At this point, it could prove little more than saber-rattling - particularly since this isn't the first time the sport has gone with turbocharged V6 engines - but then again, F1 is a bigger spectacle these days than it was in the past.

Grand Prix promoters threaten switch to Indy, Ecclestone to sue over new F1 engines? originally appeared on Autoblog on Wed, 06 Jul 2011 09:58:00 EST. Please see our terms for use of feeds.

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