Bernie Ecclestone turned 80 yesterday. It will have been a point of little relevance to the man himself, who is not one to look back, but is always looking ahead at new opportunities. The birthday has predictably resulted in all manner of stories about the succession question for Formula One, which is not what Mr E wants to hear.
He says that he has no intention of retiring, although on occasion he has also said that he does not intend to die. This may be out of his hands…
What is clear is that Ecclestone has never really cared about a succession plan. His partners in the Formula One group, CVC Capital Partners, are said to have been quietly pushing him to create more of a management structure in recent years, but there is not much evidence of that having happened. The F1 company structure is so complicated that it is hard to know who is doing what, but what is clear is that Ecclestone calls the shots on a day-to-day basis, presumably thanks to some kind of shareholder agreement with CVC. Logically, this agreement will extend only as long as Ecclestone is running the business. If he is no longer there CVC would presumably be able able to put in its own people. It is doubtful, however, that they really want to go down that path, although we have heard rumours for some years, that they have a number of executives who have agreed to be available if called upon in a crisis. As far as we know none of them are actively involved in F1. If this is the case, then CVC can be fairly relaxed about the future. Ecclestone has done well for them, producing large sums of money for the CVC European Equity Partners IV (A-E) LP fund, which seems to be largely financed by American corporate and public pension funds. CVC is not really interested in the sport and seems to have the aim of squeezing more money out of the business, until the time comes that the fund is closed down and the investors get their money back. As of 2007 the fund had a rate of return of 41.11%, which is pretty impressive. What is fairly clear is that if there is a big fight that would damage their investment, CVC is going to be heading for the hills at great speed.
The FIA has granted Formula One Administration the exclusive right to exploit the commercial rights in the FIA F1 Championship until December 31, 2010, although agreements have been entered into that entitle another company called Formula One World Championship Ltd, (part of the same group) to exercise the exclusive right to exploit the commercial rights of F1 from January 2011 until December 31 2110. As part of the current arrangements the Formula One group and the teams accept that the FIA has the right to organise the championship and create rules and regulations; owns the copyright to the rules; and owns the World Championship, even if the commercial rights have been leased. The parties are bound together by the Concorde Agreement, although this is valid only until December 31 2012, although all parties have agreed to try to reach agreement to extend the deal beyond that point, as long as they can agree to a suitable division of revenues. Neither the FIA nor the teams are going to accept the same level of return that they have put up with in recent years. At the moment they are getting 50% of the revenues. In the future they want to get more like 85%, which is a more realistic figure. CVC will want to get out before this all becomes a problem.
But who then will take over? The latest rumours suggest that Ecclestone has turned to the sovereign wealth funds to try and get CVC the money it wants to depart. These government-owned funds are more reliable than banks, particularly after the financial meltdown of 2009. The richest fund in the world is run by the Abu Dhabi Investment Authority, which has a cool $627 billion available. Its smaller sister fund, the Mubadala Development Company, has less but the pair have invested heavily in the development of Yas Island and in buying shares in Ferrari. Our spies suggest that Ecclestone may have approached Sheikh Khalifa bin Zayed Al Nahyan, proposing that Mubadala, buy control of the sport. As part of the deal he would remain in charge until he decides to retire or dies. This might be appealing to Mubadala, not just as financial investment, but also strategically as it would position Abu Dhabi at the very centre of the Formula One world. There may be problems with such a deal as the FIA is believed to have some kind of clause in the contract with the Formula One group that it can veto a change of ownership if it believes this is necessary. In theory the best possible arrangement would be for all the stakeholders in the sport to club together to create a trust of some sort and then borrow the money to buy out CVC. Ecclestone would stay on and the long term future of the sport would thus be protected. This is the sensible way forward, but who is going to put all of this together? Todt is busy doing other things, but he too is well-connected in the Middle East and there is no reason to suppose that he could not ask Mubadala for a similar kind of deal.
The one thing that everyone wants to avoid is a meltdown between the various parties, amid threats of rebel series and so on. This is not good business and all parties involved seem to understand that. At the moment these sort of talks are kept at whispering level. There is no need to do more for another year or so. And who knows what will happen between now and the end of 2012.
Sports management tends to attract the older gentleman and the International Olympic Committee has had an impressive run of octagenarians in charge: Sigfrid Edström retiring at 82, Avery Brundage at 84 and Juan Antonio Samaranch at 80. In comparison to these supercharged grandfathers, current incumbent Jacques Rogge is a Spring chicken at 68.
The International football federation FIFA has also had its share of older folk with Jules Rimet retiring at 81, his successor Rodolphe Seeldrayers dying in office at 78, his successor Stanley Rous continuing until he was 79 and João Havelange, who followed on, reaching 82 before he stood down. The current incumbent Sepp Blatter is 74.
Any truth in the rumour that Bernie is inviting bids of anything above $10m for the right to conduct his funeral?
Cynic,
No, I heard that was for the TV rights.
So, you’re saying that CVC provides the Bluebottle tone to Bernie’s Ecclestone?
The Tilke designed casket will be a bland tupperware box.
I hear Red Bull pitched a coffin design but there were some concerns about whether the bottom was stiff enough.
These jokes are in bad taste and aren’t even funny.
What a tangled web….
“the best possible arrangement would be for all the stakeholders in the sport to club together to create a trust of some sort and then borrow the money to buy out CVC.”
CART 2? That one worked well didn’t it?
…and I hear that the standard coffin package that Xtrac proposed was found to be a little leaky…
Several great essays recently Joe. While I may disagree with you from time to time (such as your take on “green” racing, etc.) I have to say I really enjoy your blog. Your in-depth reports and insider information are a real treat for us F1 fans and put the standard media info in the shade. Thanks for all the hard work, the miles flown, the late hours, and the obvious enthusiasm for what you do. Cheers!!
I’ve always thought that the stake holders in the sport (the teams, maybe willing track owners/promoters) should collectively own the commercial rights. Suddenly you wont have bottom of the barrel teams or lack of long strategic planning.
[...] Source: http://joesaward.wordpress.com/2010/10/29/some-birthday-present-for-mr-e/ [...]
Dear Joe
Whilst on the subject of Bernie, although not relevant to your blog entry.
I came across the following press image from the Korean grand prix.
http://www.daylife.com/photo/0a4N5Qd6AL6yO?q
Is Bernie giving the finger to somebody, or merely testing the wet weather.
Sincerely.
All joking aside, I find it hard to comprehend that there is no succession plan in place. Despite Uncle Bernard’s desire to continue controlling the sport into the 22nd century, the reality is that his ticket could be punched at any time — and where is CVC’s investment if that happens? Where, for that matter, is the sport itself?
There’s no board of governors or anything similar (a la the NHL) to guide the sport in the event that the organisation is decapitated — nor is there a governing body (a la the FA or the MCC).
Control of the sport would essentially be in the hands of a bunch of bankers who desperately want to get shot of the whole business, or (assuming CVC successfully divests) a Gulf sovereign wealth fund whose interests may not be wholly in concordance with those of the sport’s participants or followers.
Perhaps it’s time to restore FISA and let it have an increased role in the governance and administration of the sport, including the scheduling, with the commercial rights holder restricted to hoovering up a (smaller) share of the TV and licencing revenues.
Rumour is that Herman Tilke is designing Bernie’s cemetary.
I asked Bernie 25 or so years ago if he was grooming a successor. “Nah,” he replied, “that only causes trouble …”
There are too many political forces in F1, now, and always, for a normal management structure. BE’s genius move was teaming up with Max. Bernie did awesome divide and rule with the teams, Max made a mockery of civil law, legally.
The F1 world will revolve around them, or their memory / legacy, until someone smart enough comes up who can reverse engineer their thought processes. They literally made the whole shebang live or die, hang or go free, on what appears to be their whimsy, but in reality are decisions taken long ago.
Requirements for job:
1. QC level of legal expertise.
2. Wicked sense of humor in business.
3. Never letting a thing go.
4. Megalomania.
5. Subtlety and deviousness.
(5 is Bernie calling out to Todt lately to remind him who’s still boss . . )
Until some years ago, i railed against the Bernie – Max thing with every fan, then i got angry enough to get past my own sense of “entitlement” as a fan and think a bit. Since that time I’ve had nothing but admiration for them both.
Might not be a popular view, but popularity and managing a business well never much held hands.
– j
For Mr Saward,
Joe,
SWFs aren’t all that. Least not Dubai!
But Qatar is in play time of writing for some nice “cultural” assets.
Sometimes you need a story to say you have an exit for a deal, just to keep the current investors from revolting.
This idea you thought of, of a trust bought out by the teams, i say only one thing: Tragedy Of Commons.
Like you hint, (if i read that right) there’s far too much FIA FOM traffic to separate what is really the refereeing job. Put the teams in as FOM, and you’ve just let the players set the rules.
What you say about “meltdown” is too, just part of the Bernie show. Maybe the teams will get what they want. It won’t be what fans want, and they’ll all get bored pretty quickly. Can any one of them offer a credible candidate?
yours,
– john
P.S.
anyone got current asset numbers on the CVC deal?
this is the awful awful thing once you leverage a business, it takes incredibly deep pockets to take everyone out of that deal.
And QE and all what Bill Gross at PIMCO just described as [sic] the most blatant Ponzi scheme ever, ain’t gonna keep bond yields pinned close to zero forever.
Anyone thinking even short term would see that F1 badly needs old fashioned equity.
The teams are strictly NOT that kind of equity. They already got all their skin in the game. Anything else is still leverage, if it comes from them.
But is it still pocket change to some rich guy?
I’m thinking the numbers spent – privately – on the Americas Cup.
Oh bolox, now the true pain of messing up F1 in North America hits home . .
right, i’m off, written too much already!
– j
This is a depressing glimpse into the future. F1 controlled by a sovereign wealth fund in the mid-east. Again, a sport controlled by non-racers. Shocking that the major automakers and other stakeholders in F1 put up with this kind of poor planning and uncertainty. More shocking to think that the sport is run like a personal fiefdom by an octogenarian and that people like Frank Williams and Norbert Haug just go along with it. Play shell games long enough and your sport goes from the French Grand Prix to a rainy Inchon beach built five minutes before the race.
[...] Source: http://joesaward.wordpress.com/2010/10/29/some-birthday-present-for-mr-e/ [...]
From this morning’s Financial Times “Lex” Column:
“Sepp blather
” Imagine you are the monopoly provider of a product that costs you almost nothing to produce and allows you to reap all the profit. There is such a product: the World Cup. And there is such a provider: Fifa [ . . . ]
Starting to think things aren’t so bad in F1!
All this succession plan talk has me wondering: Why hasn’t Bernie tried to get a North Korea GP? He could use it as an opportunity to get advice about the thorny succession issue.
Apparently Bernie’s funeral won’t be broadcast in HD until there’s “more interest”.
[...] Source: http://joesaward.wordpress.com/2010/10/29/some-birthday-present-for-mr-e/ [...]
None of this would be a problem if the EU hadn’t forced the FIA to off-load the commercial rights to F1.
The FIA is the best place for the commercial rights, not a bunch of banks that have current and former EU ministers on their boards.
There seems to be some serious misunderstanding in the comments of how Private Equity Funds (e.g. CVC) operate.
John – the amount of leverage you place on a business doesn’t change the amount of money you need to take everyone out. The Enterprise Value remains the same and the equity gets smaller. If the lenders agree to roll then it will reduce the amount of new funding that needs to be raised.
Ash – CVC aren’t bankers for a start and I don’t imagine they’ll suddenly want to firesale just because Bernie isn’t there. I would be more than certain they have an interim CEO in mind.
CVC won’t care who they sell to. They’ll just take the highest offer, with the greatest certainty of close after their investment period is up. They have a legal duty to the pensioners they represent to do just that – It would be great but pretty fanciful to imagine existing stakeholders will be able to mutualize the series.
For Simon,
you are right, of course. Totally.
I come from the perspective of being a General Partner, in my own business, and highly debt adverse.
But probably i didn’t make my point very clearly in the obscure references in my above post.
Two major economies, if you allow the second, i.e. America and the UK are floating their boat on government sponsored cheap debt.
Holding debt has been a slam – dunk for nigh 3 years now, because as the rates decline, the bid (your price) goes up.
PIMCO is the biggest and most successful debt fund out there, nearly a trillion under management, and their legendary founder doesn’t like the outlook.
Which one takes to mean we’ll be soon enough in an up-rate environment. I’m not going on Gross’s view alone, i just like his style of writing right now.
That means the cost of having debt on your balance sheet is not getting cheaper.
These PE deals mostly got done in a record environment of declining costs of holding debt.
Change the shape of the smile, and you have a whole different discounted sheet.
So, you readjust your elementary Modigliani & Miller, and suddenly need fresh equity.
This matters if you look what is happening in Basel III.
That all said, if you need a debt financed deal, do the thing now.
So, you’re still right.
I’m just observing i don’t think the F1 environment is ripe for fast deals, even with the end of the Concorde approaching. Thus, a couple years out, i think we’ll be in a different situation as to what is possible.
I’d like to think someone has a longer term plan.
Could be done with a long dated bond, sure, and right now at prices so cheap yer teeth hurt.
But, wouldn’t that require some longer dated accord with the sport in general?
cheers!
– j
For Karen,
just a thought, but maybe the EC thought the links between Max and Bernie just a little close?
And Max appointed his nominee . .
– john
For bloomsm,
CVC might own FOM now, but do you think Bernie doesn’t control it?
I give BE about 5, maybe 7 years, before he looses his touch.
– j
John,
He controls it, but he does not own it.
John, appreciate the reply.
I don’t think I would disagree with Bill Gross on the way the yield curve will develop and yes this certainly has implications for new deals and refinancing.
I’m not sure I entirely follow your train of thought. So correct me if I’m wrong but I think what you’re saying is that:
Rates are going up so the new buyer needs a larger equity component to purchase the company.
Again, I wouldn’t disagree at all. CVC did the deal out of a 2005 vintage fund. Assuming it’s a typical 10 year fund with a 5-7 year target hold period they’ll be looking to exit the investment within the next few years and definitely have to be out by 2015.
But remember, I would argue the lack of cheap credit will have quite the opposite impact than you initially suggest.
The likely buyer of F1 will be a sponsor-to-sponsor transaction or a financial buyer of some kind (I don’t see a manufacturer stepping in and buying the series for obvious reasons and I don’t know who to consider a strategic here).
Evaluating a deal I have to make an IRR hurdle. With less leverage available I have to put in more equity for a given price which dilutes my return. If I can’t make a return with a given equity / debt combination I can only reduce my price.
The end result of the reduction in credit availability is that I simply can’t pay as much for the asset and the price to take everyone out of Formula One drops.
The only person that is affected is CVC’s total return.
If you’re commenting that the IRR has changed for CVC when they do their next refi. I think that is highly dependent on the cap structure (how much debt has been paid down and the maturities) and assumes they can hold it for a much longer period (I don’t think they could)
They’ll run an auction process in the next few years and the price will be whatever people can pay and still make money regardless of what credit availability looks like. If it doesn’t look like they’ll get the price they want they’ll wait a couple more years and try again.
[...] Source: http://joesaward.wordpress.com/2010/10/29/some-birthday-present-for-mr-e/ [...]
Please read the following if you want to know whether Alonso was really guilty of holding-up Hamilton at the now-famous pitlane incident in Hungary 2007 … you will discover (if indeed you didn’t already know) that he was completely innocent of the crime which has tainted his good name and reputation ever since and that in fact all his efforts that season were ruthlessly (and systematically) blocked and thwarted by Mr Ron Dennis and most of the McLaren team … Mr Dennis was (and still is behind the scenes) a master manipulator and designer of many intrigues as poor Jenson Button is also just finding out (to his dismay?!?).
All the facts/data and information which follows is only a small (albeit long-winded) chapter taken from a lengthy letter that I sent to Max Mosley at the end of the 2007 season … Mr Mosley seemingly chose to ignore my/the compelling evidence instead of ensuring that Alonso was completely and immediately exonerated from any blame for the alleged (but unproven) pitstop incident/cheating tactics of which he was accused and it’s about time that the BBC race commentators and pundits stopped constantly referring to it and/or passing their nasty/malicious/spiteful and uncalled-for jibes and remarks about Alonso!
I personally won’t stop circulating this information (and more if necessary) until Alonso’s name is cleared … for God’s sake someone have the guts to tell the truth and expose Ron Dennis’ dark deeds and indefensible conduct … McLaren’s treatment of Alonso was despicable and anyone who has/can condone it is just as corrupt/immoral and unprincipled as Dennis himself … read on if you’re not convinced:
Dear Mr Mosley
I’m now 100% convinced that in Hungary at the end of the 3rd qualifying session Alonso was deliberately told to wait at his pit-stop by his race engineer and that this was a premeditated manoeuvre stage-managed by Ron Dennis to try and make Alonso look (to all the watching world) like he was intentionally holding-up Hamilton to prevent his last qualifying lap … I suspect that Dennis’ main motivation was to cast doubt on Alonso’s character/honesty/integrity and blacken his unblemished reputation … unfortunately in many credulous/trusting and unsuspecting observers’ eyes that’s exactly what Dennis achieved with the aiding and abetment of all the ITV commentators who were lightning quick to announce over the air that it was undoubtedly a deliberate act on the part of Alonso … it was at this point while I was watching the pit-stop incident unfold and having to listen to James Allen’s purely speculative charges of unfair play I knew that Alonso would never do something like that … my first reaction/suspicion was that Mr Dennis was up to no good and that Alonso had been told something over his radio which had kept him rooted to the spot?!?
Later when Fernando was asked by Louise Goodman (on camera) after the qualifying session why he had waited for so long after the pit lollipop was raised to do his last flying lap he answered (as always) quite openly and unequivocally that he was obeying instructions given over his radio to wait and be counted-down … when Louise pushed him for further clarification and countered in a surprised voice … ‘but the lollipop had been raised and all the pit-crew were waving for you to GO??’ … Fernando seemed just as surprised that Louise should question or doubt his explanation but confidently assured her that his race engineer’s authority actually overrides the pit-crew’s … he even (presumably in case she hadn’t understood what he meant by being ‘counted-down’) gave her a verbal example of what he was listening to on his radio … ‘you know 8 – 7 – 6 – 5 – 4- etc’ … this brief interview was never repeated on any of ITV’s subsequent pre- or post-race programmes or alluded to after in the British press (as far as I’m aware?) and I suspect that shortly after Alonso had elucidated Ms Goodman he would have been instructed not to comment on the incident from the moment it was under investigation by the Hungarian race stewards’???
But by this time most people had already jumped to the mistaken (but understandable) conclusion that Fernando was guilty … this of course was Ron Dennis’ prime objective and clearly the stewards’ subsequent decision to penalise Alonso was seen as pretty compelling evidence of his culpability and only helped to further fuel the fallacious assumptions that he must have been guilty of deliberately blocking Hamilton?? It was also conspicuous that after Hungary the ITV interviews with Alonso dwindled significantly … McLaren (and their co-conspirators) couldn’t have him being so open and outspoken and telling the world the truth … could they??
I for one am certain that Alonso is far too intelligent/ethical/principled and conscious of his good name and reputation to jeopardise it by resorting to such dirty and unsportsman-like tactics (however much he might be provoked by either his team or team-mate??) … but having said that … if he was acting on his own and out for revenge on Hamilton at that pit-stop then he could have just (accidentally?) stalled his engine when the pit lollipop went up … this would have achieved the desired effect of thwarting Hamilton without the risk of inducing a stewards’ enquiry and a possible penalty … if Hamilton had nabbed pole ahead of him that day then Alonso would prefer (and feel quite confident and unfazed under normal circumstances) to take his chances and race Hamilton on the track rather than blatantly cheat and incur the bitter recriminations and widespread disapproval that would inevitably follow? No … to gain an advantage in this way just simply wouldn’t be an option for Alonso … it’s most definitely not the way that he wants to be remembered in the record books or by his loyal and adoring fans … hence I can state quite emphatically that he never has been (or ever will be) tempted to join the ‘dark side’ of F1 motor racing?!?
Back to the pit-stop in Hungary … yes indeed this was a most carefully planned-with-precision manoeuvre by Ron Dennis and a select few of his trusty McLaren personnel to seriously discredit Alonso … Mr Dennis is not a man known to explode in anger or show his true feelings and emotions (at least not when he knows the TV cameras are around) … in fact he is consummate at disguising them and invariably portrays a steely calm/inscrutable/unflappable exterior … so his overtly-animated (some might even say violent?) display of unrestrained temper just around the time that Alonso was (allegedly) holding up Hamilton in the pits … the jumping off his seat and smashing down his headphones in a rage whilst letting vent to a couple of unrepeatable expletives was a real Oscar-winning performance by Ron which successfully produced the desired result of making it look like he was furious with Alonso for baulking Hamilton (it’s inconceivable that he wouldn’t have known that Fernando was being counted-down?).
Ron’s ‘performance’ together with all the pit-crew frantically waving at Alonso to GO GO GO made it appear even more like he (Alonso) was just sitting in his car defiantly ignoring everybody and brazenly obstructing his team-mate … I imagine that most of the pit-crew were totally unaware and oblivious at the time (as was everybody else) that Alonso was in fact being told to wait over his radio before doing his final lap … we also didn’t know at that point about Hamilton’s earlier misdemeanour that had (according to his boss) put them ‘all out of sequence’ … it’s worth repeating … this was a carefully premeditated manouvre devised by Ron to dupe everybody and it was he who ensured that Alonso was penalised and thereafter censured and frowned on by many F1 fans and the sports media … the stewards’ decision would have also had the added bonus of perhaps unnerving/intimidating/daunting and putting a damper on Alonso’s hopes and aspirations?!?
I closely studied Ron Dennis’ body language at the end of that qualifying session (as he descended from the pit-wall) and by the time he was asked on camera what had actually happened his steely calm had returned and he visibly hedged and avoided the question (let’s not forget that he’s had many years of practice in the art of deceit and camouflage) … the vague and indirect answers he did give only served to endorse the speculation that Alonso’s 10-second wait in the pits was a calculated move by him to scupper Hamilton’s last lap … only much later did Dennis confess in a press conference that Alonso was following his race engineer’s instructions and I’m certain he only admitted it then because Alonso had that chance to leak the truth to Louise Hamilton in the post-qualifying interview (this had not been part of Ron’s plan but Louise is always very quick to track-down the drivers’ and get their views and opinions, etc).
Dennis’ deliberate delay in defending and exonerating his driver (Alonso) a.s.a.p. is what helped to sew those seeds of doubt in many people’s minds (which was his sole intention) and when he was later pressed to give his explanation/version of events he answered somewhat reluctantly and unconvincingly as though it was just an excuse/pretext/defence he had conjured up to ‘protect’ Alonso and account for his behaviour?? Ron’s actual words in the press conference were … ‘Fernando and his engineer did nothing wrong and the count-down was to give him track position … if you think it was deliberate then you can think what you want??’ … if we dissect this statement it’s clear that in the first part he is agreeing (on record) with Alonso’s account and if this is what Ron told the race stewards’ then surely it should have exonerated Alonso from any blame and therefore he should not have been penalised??
But sadly the second part of Ron’s statement is not an emphatic denial of any wrongdoing (as it should have been) and Ron seems to be giving his audience full permission to think (and subsequently print) what they want (which is exactly what they did?) … if not a deliberate play-on-words by Ron then this was an extremely irresponsible and ill-considered thing for him to say and (to me) it’s additional proof of Ron’s guile and cunning … I’m willing to bet 10euros that it was after Alonso received the news the following morning (on race day) that the stewards’ had penalised him by dropping him from pole to 6th position on the grid as a penalty for blocking Hamilton that he (as Ron later stated) … ‘arrived and was pretty upset and emotional … upset about many things … upset with life … upset with this and that’?? Obviously Ron had been asked why Fernando was so upset but he couldn’t tell them the truth could he … I believe Ron Dennis is a ruthlessly manipulative man who uses/abuses/exploits and takes advantage of people and particularly his drivers to achieve his own ends??
It’s obvious to me why Fernando was upset and emotional … I would be pretty agitated too if I had been in Alonso’s shoes and knew that I was totally innocent but suddenly realised that I had just been well and truly stitched-up by my boss (and other team members) to be made to look like a dirty rotten cheat … and because of the FIA’s inexplicable intervention (in what should have been an internal matter for the team to sort out) it was also going to cost me precious Championship points by being relegated to 6th place from pole??
It seems logical that if Ron Dennis et al have managed to convince a huge percentage of the gullible/trusting/unsuspecting fans and British public that Hamilton is the best rookie driver ever … then by the same token it wasn’t difficult to make it appear that Alonso was/is the inferior driver and that he eventually had to resort to cheating in Hungary, etc … since early in the season there has been a constant barrage of (totally undeserved) bad press here in England accusing Alonso of complaining about inequality and making unreasonable demands and feeling sour grapes at Hamilton’s success, etc … most of these nasty/spiteful/cruel insinuations directed towards Alonso were totally unfounded and untrue!
Before leaving the Hungarian controversy there is another factor that we should consider … only Ron Dennis was summoned to the race stewards’ office after qualifying … so we have to wonder what he said to them behind those closed doors that contributed to Alonso’s penalty?? Clearly Mr Dennis and possibly certain ‘others’ up there in the higher echelons of F1 motorsport had (and probably still have?) their own agenda(s) regarding Lewis Hamilton and were willing to stop at nothing to ensure that he won the Championship this year … if we’re being realistic then it’s not beyond the realms of possibility that Ron Dennis (with all his wealth) was/is able to bribe and grease the palms of those he wants particular ‘favours’ from (whether it be unethical journalists/mechanics/race stewards/TV commentators and/or other team members, etc?). From all I’ve read and witnessed with my own eyes over the past couple of decades (but especiallythis year) it’s far more likely to be Ron Dennis (with the help of his intermediaries) who is unprincipled and corrupt than Alonso!
The pit-stop incident was a well-executed ploy to sew the seeds of doubt and disappointment into Alonso’s adoring Spanish fans’ minds about their champion and hero … his fame/celebrity/prestige and substantial Spanish following had to be curbed and dampened to make way for the fanatical Brits who have blindly believed everything they’ve read, seen and heard about Hamilton?? It was a cunning and ingenious stratagem … pre-planned and executed with military precision by Ron Dennis who (I believe) masterminded the whole campaign against Alonso and it conspicuously succeeded because when asked for their opinions on an Internet poll shortly after the pit-stop incident only 3 out of 80 F1 fans (allegedly taken from a cross-section of 4,000 e-mails received) did not believe that Alonso was guilty … the other 77 were totally convinced that he was culpable?!? Again returning briefly to the Hungarian pit-lane incident it’s been suggested that Hamilton would not have had enough time to finish his last flying lap even if Alonso had gone when the pit lollipop was lifted??? I have no way of verifying or confirming this piece of information Max but it wouldn’t surprise me if it turned out to be true.
Fernando was assuredly robbed of (and cheated out of) his Championship title this year … he is without doubt the most talented and superior driver of the moment and would have won it by a mile if there had been no skulduggery and underhand tactics … Ron Dennis must not be allowed to get away with what he’s done … there was a question posted on ‘F1 Fanatic.co.uk’ (in response to Alonso’s claim that McLaren were giving Hamilton preferential treatment) which asked … ‘why would Ron Dennis hire a double champion in the first place and then favour the rookie?’ … I’ve attempted to further analyse and re-cap what Ron Dennis may have been trying to achieve … and what he has achieved (according to some rumours that are circulating) by signing both Alonso and Hamilton for 2007 …
Alonso is a thoroughly moral and honest man and is a racing driver for all the right reasons and he’s shown a tremendous degree of self-discipline considering how he’s been betrayed and stabbed in the back by Ron Dennis et al … he outclasses and outperforms Hamilton and completely puts him in the shade and for members of his team to tamper with his car (which could endanger his life) and shatter his hopes is unforgivable and the quicker Alonso waves goodbye to Ron Dennis and McLaren the better … I lost any shred of respect and admiration that I had for Ron Dennis when he didn’t admit on camera that it was at his bidding that Alonso held up Hamilton at the now famous pit stop … it was either Ron himself or someone on the pit wall who was under his instruction that told Alonso (via his radio) to stay put and counted him down while Hamilton was impatiently waiting behind him … and yet it was only Alonso who was penalised and made to start from sixth place while having to watch Hamilton take pole … I do believe Hamilton went on to win the race … well there’s a surprise?!?
Yours most earnestly … xxx
E-mail sent to Tom at the F1Fanatic blog a couple of months ago (if you’re still interested):
Hello Tom … remember me … whatever happened to your promotion of ‘Real Fans with Real Opinions’ campaign?? I posted my opinion earlier this week on the F1Fanatic blog which asked whether Vettel should have been penalised for his outrageous manouevre(s) which led to Jenson Button’s ‘retirement’ from the race … I informed your readers/bloggers that if you watch closely what Vettel does in slow motion (from his onboard camera) you can see quite glaringly that as he emerges from behind Jenson and starts to veer left away from the McLaren so as to (presumably) go straight on and pass him … Vettel turns his steering wheel swiftly and fully to the right (actually towards Jenson’s car) before he turns it back fully to the left … like I said the repurcussions were inevitable and it was undoubtedly a calculated/premeditated/cynical and perverse move by the young precocious German … look for yourself Tom?!?
Oops it’s me again Tom (got cut short earlier) … yes to continue … my comments on your F1Fanatic blog about Vettel’s one particular indefensible (and clearly deliberate) manouevre on Jenson last Sunday … his lightning quick full-lock to the right and then full-lock back to the left as he was virtually alongside (on the left and well clear of) the McLaren … from that position he should have driven straight ahead and passed Jenson but in similar vein to some of his recent starts from pole instead of looking and driving forwards he’s been more intent on trying to (how can I put it delicately?) thwart the advances of certain other cars/drivers/contenders … notably Fernando Alonso?!?
Anyway I checked today to see if there were any interesting responses to my very serious allegations against Vettel and whether anyone had bothered to check the whole incident in slow-motion?? And surprise surprise there are over 260 comments and wouldn’t you know it … mine has been deleted … aha the fact that my exposure/unveiling/revelation of the truth (the only one out of all those opinions?) has been erased proves to me that I’m right and that what Vettel did was pre-planned and a calculated move just as his teammate’s was in Valencia (as I also pointed out in one of your blogs which has now also been deleted??)
Like I said Tom you really don’t want me to write any articles for you … I will only continue to air my views and ultimately (somehow) get the truth/facts/reality across to the fans and followers about the shameful/scandalous/reprehensible corruption and cheating that goes on behind Formula One’s veneer of respectability … it’s got to stop … if it’s allowed to continue then my prediction will come true and the sport will suffer the consequences?!?
Manipulating the races and getting certain (bribable for whatever incentive?) drivers to cause deliberate collisions with other cars or to crash into predetermined parts of the circuit so that the ‘safety car’ is deployed and/or greasing the palms of various team principals/members/mechanics and/or the media/stewards/judges etcetera etcetera is not the right way to keep the TV ratings up and the stands overflowing with fans and spectators … the races can be exciting and nail-biting if the drivers are just allowed to get on with it and show their individual skills/talents/tenacity and determination … but having said that you cannot make a boring mediocre driver into a great one and ‘certain’ people in the F1 fraternity are (and have been) using unfair and dirty tactics to make these drivers appear to be fantastic and exciting racers!
Naming no names but there is one particular driver who is sometimes truly breathtaking to watch race and overtake his opponents but in recent years as a result of the chicanery that’s been allowed to proliferate unchallenged we have not been allowed to see even a glimpse of his genius … ohh don’t get me started Tom … some of the things that have gone on are just outrageous and unconscionable … I said somewhere that it makes me feel ashamed and embarrassed to be British … that my fellow countrymen are either too blind (and perhaps stupid) to see it or they just sit there and condone it … you at F1 Fanatic (and Autosport et al) have a responsibility to tell the truth because until someone does the damage to F1 racing as a sport will become irreparable … and on that note Tom I must get on and do some further research!!
Regards … xxx