Is Brexit Contagious?

Jan 31, 2019 | Newsletter

Bernie Ecclestone

Possibly! Rumor has it that Liberty Merdia (sorry, Typo) Media, is disappointed that not only has F1, for which it paid $8 Billion, not made money, it is disappointed that after almost three years, despite the dynamic leadership of the dashing Chase Carey, who dashingly fired Bernie Ecclestone has had his hopes dashed for growth and profits. Rumor has it that media mogul John C Malone who now owns F1is unhappy with the failure of the plan to grow the number of races in the USA and major sponsors. But they aren’t the only ones disappointed. The teams will divide $45M less this year than they received at the end of 2016. The drop has been driven by a boost in costs as Liberty has re-branded F1, commissioned an official theme tune, launched an Esports series, moved the series to a plush new headquarters in London, and doubled its headcount. Silly Bernie, why didn’t he think of that! They are said to be considering taking on partners to share the debt and/or selling F1back to Bernie. It would be the 88-year-old’s fourth stint at the helm. Liberty’s goal was to increase F1’s presence in North America. What a novel idea! They failed.

Wouldn’t it be ironic if the clever (and dashing) Mr. Carey had to negotiate his own exit with the 88-year-old he fired? Warms the cockles of every old guy’s heart.