When Bernie Ecclestone put in motion the wheels of a takeover of his Formula One empire by US giant Liberty Media, many became concerned at the eventual outcome. In the early days Bernie Ecclestone worked hand-in-hand with his new partners although there was always the intention of selling the whole company to the US giant. Ecclestone is no longer a young man at 86 years of age and with nearly 40 years behind him in charge of Formula One perhaps it is time to hang up his car keys. However, history will dictate that Bernie Ecclestone took Formula One from a by-product to an enormous and extremely valuable sporting legacy. Read full article
Bernie has been a pig when it comes to marketing F1. Money grubbing has damaged the sport, and infighting among the have and the have-not teams has reached a fever pitch. We've been following the sport for decades on TV, and routinely went to races in Montreal and the short-lived races in Indianapolis. It typically cost us $2-3 K for the long weekend, not including airfare or driving. No more. The IMS called Bernie's bluff and told him to get lost. His fee and requirements to get other F1 races in NA have torpedoed any hopes for New York, Las Vegas and elsewhere; Texas threatened to pull out last year. F1 is dumping classic European circuits while Singapore and Australia is telling Bernie to get real or are out (I have lost track). Bernie now chases even more oil money in the Arabian peninsula. Meanwhile, the distribution of race shares to teams is really inequitable in building competition among the 11 teans. The one thing Bernie hasn't screwed up are the tech specs and regulations in building cars. Personally, I'm glad to see Bernie go. It wasn't fast enough. Liberty Media couldn't do any worse. Bite my tongue. Where have you gone, Jim Clark?
You have made some very strong but relevant points - F1 would not be where it is today with BE but he has made a fortune along the way and was lucky to escape a jail sentence with the German court case. I think the sport is too fragmented with the big boys carrying too much sway and little room for new entrants or some of the smaller teams to continue. Then again, if teams have money to invest, improve cars and system which will ultimately hit the mass market one day, there is some positive?
Car development and specs can't be entirely put to Bernie, but the annual rewrite of specs hurts the smaller teams financially. The prohibitive entry fee for new teams is ridiculous. Frankly, Bernie should have gone to jail but money talks and BS walks. Unfortunately races are parades unless first lap first turn chaos takes out the polesitter and cars in the first few rows are crippled and forced out; the qualifying session determines the winner. But Bernie likes Louis, both like silly amounts of money, and all is well with the F1 empire. Pfft.
Honestly I have no idea how F1 will evolve. As a fan, I see three themes that need working on. (1) Race location choices need to be revisited, including at least some of the classic European circuits and getting a third circuit in NA. (2) The prize money distribution needs a negotiated revision to help at least some of the second-tier teams, but Mercedes and Ferrari will threaten to pull out. (3) Engineering/technical specifications for cars at worst need to stabilize, not change every year, and at best simplified as the cost burden on particularly the have-not teams is obscene. Do I think Liberty Media, the team owners and FIA will recognize the Borg collective is strangling the goose? I doubt it, but who knows? It won't be an easy fix as some multi-year track contracts should to be unwound, and the team owners and the FIA should be tossed into a locked room without foid, drink or facilities for as long as it takes.
An interesting couple of years ahead then! I would guess at some point they will try to float F1 on the stockmarket - that must be their exit route?
