Where Formula 1’s Future Will Be Decided
Written by George Katinger · November 20, 2004
The offices of FIA? The arbitration case eveyone expects to come protesting V8 engines in ‘06? The board room of the newly threatening GPWC? Sorry, none of the above.
The future of F1 is currently at risk due to the court case currently contested by Bernie Eccelstone and the banks who own 75% of SLEC. The banks can’t understand why they own a majority of a company yet have no control over how the company is run. Rather cheeky of them if you ask me. At issue, the appointment of board members that reflect the bank’s ownership percentage. If they achieve that, guess what? They will be able to hire-fire EL Supremo himself, Bernie Eccelstone. Is that a good or bad thing? Much paper and ink has been wasted debating Bernie’s contributions to or ruination of the sport, depending on one’s opinion. Regardless of perspective the one thing Bernie has accomplished is raising the sport from just sport, to big business. But a business that uniquely does not sell a tangible product like widgets, but generates income from the marketing of image. Can a profit-loss centered consortium of banks continue to run a business without an intrinsic feel for the sporting issues, marketing direction or nationalistic fervor associated with it’s product? Can a committee make the unpopular unilateral decisions sometimes necessary to advance the sport? I doubt it. The title of “El Supremo” is used derisevly to convey Bernie’s dictatorial position and his perceived ruthless imposition of his own values and goals. Will a board of directors do any better? No. They will prompty dispose of Bernie and turn control of the enterprise over to the GPWC and the car makers who run it. That will mark a turning point in the history of F1: Either the begining of unprecedented growth or it’s eventual decline and demise. Within five years of the take over of the series by the banks and GPWC, the sport will only faintly resemble the format we now know. Better or worse, bigger or reduced, you tell me. My crystal ball is a bit foggy right now. One Response to “Where Formula 1’s Future Will Be Decided” Got something to say? You must be logged in to post a comment.
f1central.net: Banks verse Bernie begins Monday
grandprix.com: Helmets on, it’s the High Court on Monday
grandprix.com: Comments
Yes. So it looks like GPWC will run the sport one way or another. They are mostly successful business people (exceptions are always made for Fiat) whose interests will be a viable sporting business. That has to mean attracting audiences with a spectacle that is more than a parade of cars following a red one.