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Newz Forum: AUTO: Ferrari among four makers to break away from F1 by '08

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posted on Oct, 28 2004 @ 11:59 AM
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LONDON -- Four top carmakers plan to split from Formula One and launch a rival open-wheel Grand Prix racing series by 2008.
 

The group -- which includes BMW, DaimlerChrysler, Ferrari and Renault, and is known collectively as the Grand Prix World Championship consortium -- made the announcement Tuesday. They had been seeking a bigger share of F1's revenues and said the new series will "maintain the strengths of Formula One, while eliminating its weaknesses."

GPWC was formed in 2001 and since then has been pushing for a bigger share of F1's estimated annual income of $810 million.

The carmakers had previously threatened to establish a rival series starting in 2007, then called off the plans after a preliminary deal was reached with F1's commercial arm in December 2003.

But GPWC accused the F1 agency of failing to comply with the terms of the agreement. The group broke off talks in April and resumed plans for its own circuit.

"We have been more than patient with the current management and governance of Formula One, but recent developments have underlined the need for a structure that guarantees a stable and prosperous future of the sport," GPWC chairman Joergen Hubbert said.

Ford, which is dropping out of F1, was previously part of GPWC before passing on its shareholding to the other four carmakers.




posted on Oct, 28 2004 @ 08:44 PM
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how is this being viewed in the uk??? is this a serious break away or another case of f1 politics?


TRD

posted on Oct, 30 2004 @ 08:43 AM
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You hear about breakaway leagues all the time. One that has been going on for years is in the soccer.

If the big four was to split away from the F1 regulars then it would be a bad thing for all the smaller teams who rely on them. It seems to me its all about the money again. What i have read, it's certainly not a definate but from a motor racing fan eyeview it would be better to watch as the big 4 will be more competitive and it would make it more exciting.

Breakaway leagues are always hit and miss. They did it in the darts and the new league which had the better stars never got airplay on the TV. I wonder if that would happen in the F1? What one would they show?



posted on Oct, 30 2004 @ 09:12 AM
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the world of f1 is like an old medieval novel, full of plots and subplots, often more entertaining than the racing on the track, if the big 4 do break away they would take a lot of money with them, but it would be an uphill fight to compete with the established f1 establishment who has things pretty much their own way, what they need is some cost control so they can get back to some competitive racing on the track




 
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