It sounds to me as if Bernie is making a classical move to secure the business. In the past those things were done by the Concord agreement. It looks like the time for Concord style contracts is over. The FiA is very reluctant to get roped into commercial issues and is not putting any pressures on Fota to come to a commercial deal. CVC are in a difficult position. With a business that has no mid term stability the cost of the huge bond will go up like crazy. With the credit crunch and worsening ratings they will spend huge tons of money on interest unless they manage to improve the risk factor. So there would be some sense in giving committments to the manufacturers if they commit for a longer period of time.Ecclestone offers teams new deal
26 January 2009
Bernie Ecclestone has offered car manufacturers involved in F1 a new deal which includes greater financial freedom in exchange for their long-term commitment to the sport.
The offer comes following Honda's demise and the ongoing discussion between FOTA and Ecclestone in which the teams are asking for a greater share of the revenues generated by F1, especially in the current economic climate.
"If the manufacturers are prepared to make a long-term commitment, say seven to ten years, we should let them spend what they want to, providing they supply engines and gearboxes at an affordable price," Ecclestone told the Daily Telegraph.
"It would prevent the kind of thing we've seen with Honda because we could sue them if they left," he added on how his plan would help secure the sport's future. "They wouldn't like that. Whether they will commit to that I don't know. Getting them to agree on anything has always been the problem."
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