The Business of F1
With F1 fever sweeping through the Emirates, Kipp takes a closer look at the money, mastery and the madness of Formula 1.
November 14, 2010 2:41 by Ben Flanagan
The story of F1′s CEO Bernie Ecclestone rise to fame is one of hard work, determination and ambition. Some say it is likely that F1 wouldn’t have continued if the 80-year old hadn’t stayed with the company during the trying times, especially during the 1960′s when F1 was low on cash. Many agree that Ecclestone is the reason F1 has become the international commercial success that it has. Sir Frank Williams told The Telegraph: “F1 would be far less geographically prominent, with a far more modest TV footprint and altogether, therefore, less commercially viable than it is today without Bernie. He is without doubt the principle architect of our global expansion and success.”
Integral as he maybe to the running of F1, some worry about the future of F1 post Ecclestone. Mercedes team principal Ross Brawn told The Telegraph, “But even Bernie is not going to be around forever. What is the structure when Bernie stops?… That is one of our fears. A succession plan for Bernie and CVC (the private equity firm which owns Formula One) is not clear and is one of the things which teams are always seeking clarity on.”
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