The Bernie Eccelstone School of Business... Money for Nothing, Chicks for Free
09-19-2011, 07:03 PM
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The Bernie Eccelstone School of Business... Money for Nothing, Chicks for Free
Bahrain paid for cancelled Grand Prix
19 September 2011The nation of Bahrain paid for its 2011 Formula 1 race, despite the event being called off due to political unrest. The Grand Prix should have started the season in March, but due to the turbulence was postponed before facing a full cancellation.
It is believed Bahrain’s annual race fee – submitted to Bernie Ecclestone, commercial rights holder for the sport – equates to around £25 million or $35 million dollars.
“I don't think turnover will be down this year,” Ecclestone told The Independent earlier this year. “I think it will be flat because we were paid for Bahrain. I said we would give them the money back and they said don't bother. I think the turnover and profit will be more or less the same as 2010.”
As a result of the conflict, Bahrain’s F1 race has been placed towards the end of April 2012 in order to allow the Gulf State more time to recover properly.
“I spoke to the Bahrainis yesterday and they said everything is going to be fine,” Ecclestone added. “I hope they are right for their sake, not ours.” <<<---------- The "concerned" Bernie
19 September 2011The nation of Bahrain paid for its 2011 Formula 1 race, despite the event being called off due to political unrest. The Grand Prix should have started the season in March, but due to the turbulence was postponed before facing a full cancellation.
It is believed Bahrain’s annual race fee – submitted to Bernie Ecclestone, commercial rights holder for the sport – equates to around £25 million or $35 million dollars.
“I don't think turnover will be down this year,” Ecclestone told The Independent earlier this year. “I think it will be flat because we were paid for Bahrain. I said we would give them the money back and they said don't bother. I think the turnover and profit will be more or less the same as 2010.”
As a result of the conflict, Bahrain’s F1 race has been placed towards the end of April 2012 in order to allow the Gulf State more time to recover properly.
“I spoke to the Bahrainis yesterday and they said everything is going to be fine,” Ecclestone added. “I hope they are right for their sake, not ours.” <<<---------- The "concerned" Bernie
Last edited by multi21; 09-19-2011 at 07:19 PM.
09-19-2011, 07:05 PM
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More wisdom from the Dean of the University
Ecclestone: Greek Grand Prix still a possibility
19 September 2011Formula 1 commercial rights holder Bernie Ecclestone has said that a Grand Prix in Greece still remains possible, despite the nation being close to bankruptcy.
The sport will travel to a selection of new destinations over the next handful of seasons, with India hosting its inaugural race in October before the Unites States returns to the calendar with its brand-new circuit in Austin, Texas in 2012. Two years later, Russia will enter the schedule with Sochi’s circuit based on the site of the Winter Olympics.
“After Russia I would like to go to South Africa and Mexico,” Ecclestone explained to The Independent. “Both countries are trying to do something. Greece are also trying to do a Formula 1 race - the Germans will lend them some money.”
19 September 2011Formula 1 commercial rights holder Bernie Ecclestone has said that a Grand Prix in Greece still remains possible, despite the nation being close to bankruptcy.
The sport will travel to a selection of new destinations over the next handful of seasons, with India hosting its inaugural race in October before the Unites States returns to the calendar with its brand-new circuit in Austin, Texas in 2012. Two years later, Russia will enter the schedule with Sochi’s circuit based on the site of the Winter Olympics.
“After Russia I would like to go to South Africa and Mexico,” Ecclestone explained to The Independent. “Both countries are trying to do something. Greece are also trying to do a Formula 1 race - the Germans will lend them some money.”
09-19-2011, 08:30 PM
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Things aren't always what they seem. In July, Bernie's 22 year old daughter paid $85 million in cash for a Beverly Hills mansion. That in addition to her $90 Million dollar home in Chelsea. Don't know where the money is coming from, mommy or daddy, but it seems curious to me that these large hard assets are going into a 22 year olds name that doesn't have the visible means of an income.
09-19-2011, 10:06 PM
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smart little ba$tard... you gotta give him that.
09-19-2011, 10:50 PM
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Trending Topics
09-20-2011, 11:06 AM
#8
Are they moving to rotating schedule where some countries only get access every couple of years? What a great business move. More buyers than supply. If a country bows out one of the bi-annual countries can swoop up the open date.
09-20-2011, 12:58 PM
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Japan GP a few years ago and Spa will start that in 2013.
09-20-2011, 01:37 PM
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09-20-2011, 03:14 PM
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