Skip to content

Not really and not quite

It’s not Bernie here:

Billions of dollars worth of loans owed by Formula One have been rated “junk” over fears that Beijing’s zero-Covid policy threatens to derail the sport’s return to China.

Analysts at one of world’s three main debt rating agencies say a failure to return to China next year risks scuppering F1’s ability to pay down $2.9bn (£2.5bn) in loans, debt that is a legacy of motor racing mogul Bernie Ecclestone’s sale of the franchise six years ago.

The debt’s from the people who bought it from Bernie. It’s a result of their decisions – not Bernie’s – about how to structure the transaction.

Pendantry, obviously.

4 thoughts on “Not really and not quite”

  1. I don’t see why Covid restrictions need to be a problem. The Chinese could seal off the track, stick an airsyrip nearby or something. They don’t need punters at these events: it’s the TV audience that is important for the advertisers and sponsors.

  2. Can’t they just build a copy of the Chinese race track in a Potemkin Chinese city elsewhere. I doubt the gate money matters. CGI in some spectators. Fly VIPs around for sufficient hours so they think they’ve landed in China and transfer them in their VIP lounges?

  3. Ottokring: They didn’t have punters at the first few. At least, not many. They were bussing schoolkids in. The stands around turns 12 and 13 have been converted into advertising hoardings and I think we’re supposed to forget that they were ever meant to have people in.

    Frankly, the whole thing’s been a damned sight better since they stopped going to China. The track’s no great shakes anyway. Since The Madness started, we’ve had a return to Imola and a couple of races at Portimao in Portugal, which is an infinitely better circuit. F*** China. I hope they never go back.

  4. @Sam Duncan
    Frankly, the whole thing’s been a damned sight better since they stopped going to China

    …And India which was imo worse. Remember Coulthard “We’re leaving pit lane to get away from this noisy rabble”

    F1 would be better if all races were at No State Funding circuits like Silverstone. Way too many are Gov’t pride/virtue signalling with taxpayer money

Leave a Reply

Your email address will not be published. Required fields are marked *