Latest F1 news in brief – Friday
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Verstappen thinks he can win in Singapore Verstappen not ruling out Singapore win
- F1 takeover must clear two hurdles
- Formula E boss plays down F1 role rumors
- Manager had Renault, Haas talks – Massa
- Liberty Media sets out F1 growth plans
- Marko: Verstappen's 'a different caliber'
- FIA welcomes F1 takeover, keen to know more
- Williams signs former Ferrari engineer
- Binotto: Ferrari can fight for 2017 honors
Verstappen not ruling out Singapore win
(GMM) Max Verstappen is not ruling out a bid for victory under the Singapore lights next weekend.
Amid a strong run of form for Red Bull, the team faltered at Monza, with team figures admitting the improved Renault engine is still no match for Mercedes and Ferrari.
"Monza is our weakest circuit," admitted boss Christian Horner, "but Singapore is one of our strongest."
It has emerged that Red Bull, already planning to bring car improvements to the city-state, is also expecting Renault to bring a 15 horse power upgrade boost to Singapore.
"Yes, I expect that we will have a good weekend," Verstappen is quoted by Speed Week.
"Singapore rewards a car that has a lot of downforce, and there are not many straight lines.
"A podium must be our goal, but we are secretly looking at the win," the 18-year-old admitted.
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| Liberty Media boss John Mallone |
F1 takeover must clear two hurdles
(GMM) F1's sale to US tycoon John Malone's Liberty Media is yet to clear two significant hurdles.
The first is the approval of the sport's governing body, the FIA.
FIA president Jean Todt said in a statement that while he welcomes the "long-term investment" by an impressive company, the FIA needs "further information" about the "possible consequences" of the deal.
The second hurdle is the European Commission.
Firstly, the EC must simply approve a transaction of this sort, but F1 business journalist Christian Sylt also warned of a potential "conflict of interest".
That is because the FIA has a dual role as an approver of the buyout deal as well as a potential beneficiary due to its 1 per cent stake in F1's commercial rights.
"In short, the answer is that the FIA should not have the share under the current circumstances as it gives it a conflict of interest," a source told us.
"I can't see the FIA giving up a $100m asset though!"
Elsewhere, the sale by CVC to Liberty Media is being widely welcomed.
"We all know that something had to be done to bring the sport back to a higher level," German motor racing official Hans-Joachim Stuck told SID news agency.
"Whatever the new investor does could not actually be much worse."
Some wonder if Liberty Media, having installed 21st Century Fox executive Chase Carey as the new chairman, will 'Americanize' F1 now.
Carey is quoted by Bild newspaper: "I want to point out that the established markets, especially Europe, are the home and foundation of formula one.
"To build the sport in Europe on the existing foundation must be a priority. In the longer team, America and Asia are opportunities, but it will not happen overnight," he added.
Mercedes chairman Dieter Zetsche also welcomed Liberty to F1, saying the deal contains "more opportunity than risk".
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| Agag |
Formula E boss plays down F1 role rumors
(GMM) Formula E boss Alejandro Agag has played down suggestions he is set to help run formula one in the wake of the buyout by US media tycoon John Malone.
"It's not true," the 45-year-old Spaniard, who founded the electric series Formula E and is often closely linked with F1 supremo Bernie Ecclestone, told Marca sports newspaper.
"What is true is that I am close to the new owners because one of their sister companies is the main shareholder of Formula E, but there has been no contact and I'm fine where I am," he added.
Manager had Renault, Haas talks – Massa
(GMM) Felipe Massa has admitted his manager had contact with other teams before he decided to retire from F1 at the end of the year.
But the Brazilian insists it was nothing like when he left Ferrari three years ago and was desperate to keep racing at the pinnacle of motor sport.
"The market had a small influence, but it was small," Massa, 35, told UOL Esporte.
"I didn't know what was happening in the market. (Manager) Nicolas (Todt) talked a bit with Renault and had some contact with Haas.
"Of course I had a sense of the market, but it had a very small influence. What was strongest was the decision that arose within me," the 11-time winner and 2008 runner-up said.
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| Ecclestone will have American bosses now |
Liberty Media sets out F1 growth plans
Liberty Media has outlined the key areas of growth that it plans to focus on "for benefit of all stakeholders" following confirmation of its Formula 1 takeover in a deal valuing the sport at $8 billion.
On Wednesday evening, Liberty Media confirmed that it had purchased an 18.7 per cent stake, and will go on to acquire 100 per cent of Delta Topco's shares, the parent company of Formula 1.
Liberty Media will invest $4.4billion equity and also assume $4.1 billion of existing Formula 1 debt in the deal, which is due to close in early 2017, and total an enterprise value of $8 billion.
Liberty Media, owned by John Malone, has installed Chase Carey, the Vice-Chairman of 21st Century Fox, as Formula 1's Chairman, while Bernie Ecclestone will stay on in the role of CEO.
It produced a detailed presentation explaining the reasons behind its decision to purchase Formula 1, and its plans for future growth, in which it pinpointed five key 'select opportunities'.
Liberty Media's 'select opportunities' for F1:
• Increase promotion and marketing of F1 as a sport and brand
• Enhance distribution of content, especially in digital
• Establish broader range of commercial partners, including sponsorship
• Evolve race calendar
• Leverage Liberty's expertise in live events and digital monetization
Liberty Media described Formula 1 as a "low risk business model with long-term contracts", and estimates approximately $9.3 billion of revenue through the next 10 years.
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| Marko and Verstappen on the grid |
Marko: Verstappen's 'a different caliber'
Red Bull motorsport consultant Helmut Marko has spoken out in defense of Max Verstappen, following recent criticism, describing the Dutch youngster as "a different caliber".
Verstappen came under fire after fighting Ferrari pair Sebastian Vettel and Kimi Räikkönen at the Belgian Grand Prix, and was given a "gentle warning" by the FIA over his actions.
Marko, however, feels the backlash was undeserved, stating that "nothing is justified", and remains adamant over Verstappen's potential to become a World Champion.
"Max is a different caliber; he has the traits of a future World Champion and he is just doing what is necessary to get there," Marko told the official Formula 1 website.
"It obviously surprises some that this also involves overtaking and defending. If there had been something gravely wrong the stewards would have penalized him.
"It is a bit like when Michael Schumacher came in [to Formula 1].
"I remember a race in Hockenheim when there was nearly a fistfight between him and Ayrton Senna – Senna the top dog at this time and Schumacher the new hopeful…"
When asked if other Formula 1 drivers have become 'lambs', and Verstappen is now the only 'wolf' on the grid, Marko responded: "Probably we are lacking strong personalities lately.
"There are drivers doing their last season so they are complaining about Max, about safety, about anything.
"With Max here is someone who is really young with a strong idea of what he wants, and he is not shy of trying to get it, of trying to be successful, and the reaction of the fans plays to his advantage.
"I would say he is probably now the most popular driver on the grid – worldwide."
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| Ecclestone and Jean Todt |
FIA welcomes F1 takeover, keen to know more
Formula 1's governing body, the FIA, says it welcomes the arrival of Liberty Media, following the news that the organization will acquire the sport, though is eager to discuss its implications.
Liberty Media, owned by John Malone, has taken on an 18.7 per cent stake and will ultimately acquire 100 per cent of Delta Topco's shares, the parent company of Formula 1, in a move worth $8 billion.
Chase Carey, the Vice-Chairman of 21st Century Fox, becomes F1's new Chairman, while Bernie Ecclestone will stay on as Chief Executive Officer, with the deal set to be closed in early 2017.
Formula 1 governing body the FIA, which has a one per cent stake in the sport, was not party to negotiations surrounding the intended sale, and wants to understand more details.
"The federation awaits further information regarding the proposed terms of the transaction," read a statement.
"It welcomes the opportunity to discuss with all parties the possible consequences of this agreement on the promotion of the FIA's flagship championship."
FIA President Jean Todt is keen to work closely with Liberty Media to drive the sport forward.
"While it remains to be seen how this acquisition will influence the promotion of the FIA Formula 1 championship, we welcome this long-term investment in Formula 1 by a company that has such a broad portfolio of sports, media and entertainment businesses," said Todt.
"As motor sport's governing body and regulator we acknowledge Liberty Media's wide expertise in these fields.
"We look forward to working in close partnership with them in the future in order to further develop Formula 1 and bring it to new generations of motor sport enthusiasts around the world."
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| Antonio Spagnolo |
Williams signs former Ferrari engineer
Williams has bolstered its Formula 1 engineering department with the signing of Antonio Spagnolo, who has held numerous roles with Ferrari over the years.
Spagnolo, former Head of Tire Performance Group with Ferrari, takes on the role of Competitor Analysis and Performance Concept Team Leader at Williams.
Williams says Spagnolo "will concentrate on understanding our competitors' strengths and identifying areas of our performance which require prioritization of resources".
He will also assist with Williams' Tire Performance Group.
Spagnolo has worked for Ferrari since 2005, and also acted as Race and Performance Engineer to World Champions Kimi Raikkonen and Fernando Alonso respectively.
Williams technical chief Pat Symonds welcomed the move.
"Williams is determined to continue the positive momentum it has had since 2014 and, with new additions to the team, hopes to become even stronger," said Symonds.
"We are constantly seeing ways to improve our performance and trackside operations and believe Antonio will make a valuable contribution to this process.
"As a team, we will do our utmost to achieve our on-track ambitions and secure strong positions in the Constructors' Championship this season, and beyond."
Spagnolo will report to performance chief Rob Smedley.
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| Mattia Binotto |
Binotto: Ferrari can fight for 2017 honors
Newly-installed Ferrari Chief Technical Officer Mattia Binotto is adamant that the team has the quality and resources it needs in order to compete for the 2017 championship.
Ferrari entered this season optimistic of fighting for overall honors, but has not won a race in 2016 and is down to third in the Constructors' Championship, behind Mercedes and Red Bull.
Binotto oversaw Ferrari's power unit gains across the past couple of years and replaced James Allison in July, when the Briton left the outfit.
"There is a lot of quality in Ferrari and talented people," explained Binotto.
"I'm sure that we've got all what we need to do a good job and really to battle for the championship, so I do not foresee any real necessity at the moment to do something different compared to what we've got.
"On the project of 2017, clearly it is well-advanced.
"It is a continuous development and we need to make sure that we are progressing well and there is nothing different that we need to do, rather than doing better compared to what we've done so far.
"It's really a matter of progressing, progressing fast and making it right."
Ferrari last claimed a victory at the 2015 Singapore Grand Prix.