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 Post subject: Re: F1 2013
PostPosted: Sat Jan 04, 2014 10:41 am 
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I'm sure you've all seen that BNP leader Nick Griffin has gone bankrupt. Get these comments the party leader as made.

BNP press officer Simon Darby chatted to the Huffington Post UK about the party leader's financial woes and described how the MEP is being remarkably upbeat about his situation amidst a "pantomime society."

"Look at it this way," he said. "Michael Schumacher has millions in the bank, but he'd do anything to be in Nick's position now wouldn't he," he said.

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 Post subject: Re: F1 2013
PostPosted: Thu Feb 20, 2014 3:02 pm 
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A judge has rejected an £85m damages claim against Formula 1 boss Bernie Ecclestone but said he did pay a bribe over a sale of F1 shares.

Mr Justice Newey, in the High Court in London, said there had been a "corrupt" deal with a German banker to facilitate the sale to a preferred buyer.

But he said there had been no financial loss to German media group Constantin Medien. It said it would appeal.

In evidence last year, Mr Ecclestone, 83, said the claim "lacks any merit".

Mr Ecclestone is the chief executive of F1, and has ruled the sport for almost four decades.

Constantin Medien had an interest in the 2006 sale of a stake in F1 belonging to the German bank Bayern LB (BLB), bought by private equity group CVC Capital Partners.

Lawyers for Constantin Medien claimed that the sale was agreed "without the normal and proper process" and for an undervalued price, and was seeking £85m (103m euros) in compensation.

'Technical grounds'

But Mr Justice Newey, delivering on Thursday the judgement reserved at the end of the two-month case last December, said the damages claim failed because it had been "no part" of Mr Ecclestone's purpose for shares to be sold at an "undervalue".

"No loss to Constantin has been shown to have been caused by the corrupt arrangement," the judge said. "That fact is fatal to the claim."

But he found that Mr Ecclestone had made payments to bribe German banker Gerhard Gribkowsky to facilitate the sale to a buyer chosen by him.

Mr Ecclestone had claimed he made the payments because he was being threatened by the banker, who had falsely accused him of tax evasion.

In written findings, Mr Justice Newey said: "The payments were a bribe. They were made because Mr Ecclestone had entered into a corrupt agreement with Dr Gribkowsky on May 2005 under which Dr Gribkowsky was to be rewarded for facilitating the sale of BLB's shares in the F1 Group to a buyer acceptable to Mr Ecclestone.

"Mr Ecclestone's aim was to be rid of the banks. He was strongly averse to their involvement in the F1 Group and was keen that their shares should be transferred to someone more congenial to him."

The judge also said: "Even... making allowances for the lapse of time and Mr Ecclestone's age, I am afraid that I find it impossible to regard him as a reliable or truthful witness."

Following the ruling, Constantin Medien's lawyer Keith Oliver said: "The judge ruled against Constantin essentially on technical grounds (including extremely complicated questions of German law which is the governing law in the case) and Constantin will be appealing those findings."


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 Post subject: Re: F1 2013
PostPosted: Sat Mar 15, 2014 9:42 pm 
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Hamilton starts the first race of the new era on pole.

Was an excellent qualy session.

Button Vettel and Kimi failed to make Q3 for differing reasons.

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 Post subject: Re: F1 2013
PostPosted: Sun Mar 16, 2014 1:30 am 
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Should be a decent race. Will try and wake up for it.

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idontfeardeath wrote: Nevermind. It's not like he's going to make the Juve starting 11. :lol:
Spawny wrote: Tata Paul. Enjoy Juve's reserve team, but at least the weather will be nicer.

2013
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Manchester United fans look away now: Paul Pogba has been crowned the best young player in Europe.

Image :snigger:


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 Post subject: Re: F1 2013
PostPosted: Sun Apr 06, 2014 6:00 pm 
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If you didn't watch that race. Catch the highlights. I may watch the highlights anyway and I just watched it live.

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 Post subject: Re: F1 2013
PostPosted: Mon May 05, 2014 12:53 am 
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Hamilton with 3 wins in a row now. He's back within a race win of Rosberg with Rosberg taking second place.

Surely will demoralize Rosberg if he takes a 4th second place whilst Hamilton straight away overhauled the DNF.

Anyone watch MotoGP? Marquez is breaking new boundaries. A once every generation star has come a long. He's game changing all riders are going to have to adapt to catch him.

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 Post subject: Re: F1 2013
PostPosted: Tue Jun 03, 2014 4:37 pm 
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There will be "no good news" about Michael Schumacher, Formula One's former chief medic has warned in a gloomy prediction about the stricken star.

Doctor Gary Hartstein issued his latest dire warning about Schumacher's condition, as fans of the racing legend continue to cling to hope he may recover.

Writing on his blog, Hartstein warned such recoveries are "rare, achingly rare" for patients in persistent vegetative states for as long Schumacher.

Schumacher's wife Corinna and his children have been at his side since he cracked his head on a rock while skiing in the French Alps resort of Meribel, last December.

The former Ferrari driver has been in a medically induced coma since then and it is now more than two months since the last public statement was issued by his family.

Hartstein said he fears the silence speaks volumes.

"I'm quite afraid (and virtually certain) we will never have any good news about Michael," he said. "At this point, I rather dread seeing that the family has put out a press release.

"I'm STILL considering that if there were good news to be had, we'd have been told. I can conceive of no possible reason that Michael's entourage, understandably extremely protective of his (and their) privacy, would NOT tell his fans if significantly good things have happened."

Hartstein pointed to statistics about patients in persistent vegetative states which show the odds are stacked against the seven-time F1 world champion.

"After six months only a tiny tiny fraction of patients in PVS regain consciousness," he said.

"In essence, persistence of the vegetative state or death are the primary outcomes remaining. The slope of the line separating "dead" from "persistent vegetative state" shows the approximate death rate of these patients – roughly 25-30% per year."


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 Post subject: Re: F1 2013
PostPosted: Sat Oct 04, 2014 1:53 pm 
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Confirmed. Vettel will drive for Ferrari!

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 Post subject: Re: F1 2013
PostPosted: Fri Nov 07, 2014 7:06 pm 
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The Formula One team Marussia have officially gone out of business, with the loss of more than 200 jobs, administrators said in a statement on Friday.

The Banbury-based organisation was placed in administration on 27 October and despite stringent efforts over the last few days to find a buyer and keep the team afloat, they have ultimately come to nothing.

Geoff Rowley, joint administrator at FRP Advisory, said: “It goes without saying that it’s deeply regrettable that a business with such a great following in Britain and worldwide has had to cease trading and close its doors.”

Rowley added: “Whilst the team made significant progress during its relatively short period of operation, operating a F1 team requires significant ongoing investment.

“The group was put into administration last month following a shortfall in on-going funding and the administration process provided a moratorium to allow for attempts to secure a long-term viable solution for the company within a very limited time-frame. Sadly no solution could be achieved to allow for the business to continue in its current form.

Staff were told of their fate in a long and emotional meeting just after midday on Friday. “We would like to thank all the staff for their support during this difficult process,” continued Rowley. “As joint administrators our immediate focus will be to assist staff who have lost their jobs and provide them with the necessary support to submit timely claims to the Redundancy Payments Service.

“The team will not be participating in the two further rounds of the 2014 championship in São Paulo and Abu Dhabi. The joint administrators will continue with their statutory duties to realise the assets of the business in the best interests of all the creditors.”

Fellow strugglers Caterham are also in administration and seeking a buyer. Both teams entered the sport in 2010, encouraged by promises of a cost cap that never materialised.

Marussia did manage to score their first two points at the Monaco Grand Prix in May thanks to Frenchman Jules Bianchi, who is fighting for his life in a Japanese hospital after a horrific crash at Suzuka in October when his car hit a recovery tractor.

Maenwhile, Caterham have launched a crowd-funding project in a bid to raise the £2.35m needed to get the team on the grid for the final Formula One race of the season in Abu Dhabi, the team’s administrators have announced.


Not good. Bernie won't mind as it fits in with the plan for the top teams to field three cars each. Money money money, etc, etc, etc.


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 Post subject: Re: F1 2013
PostPosted: Mon Nov 24, 2014 4:06 am 
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Congratulations too Lewis Hamilton who became the 2014 World Champion.

Special mention to Bianchi who was moved back to France this week and is now breathing unaided.

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 Post subject: Re: F1 2013
PostPosted: Mon Nov 24, 2014 10:26 am 
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I saw the last race was a bit of a shame it because an anti climax but Hamilton deserved it he got a good start and never looked back bit unlucky for Rosberg to suffer engine problems which meant he could never put any pressure on Hamilton.

It was good that it wasn't decided by the crazy double points thing I'm glad they're ditching that for next year.


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 Post subject: Re: F1 2013
PostPosted: Sun Jul 05, 2015 4:01 pm 
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Hamilton just won the British Grand Prix was an excellent race with both mercs getting jumped at the start by the williams then half way in we got some rain. Vettel somehow got on the podium with Williams proving they just don't have the downforce for changing conditions.

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 Post subject: Re: F1 2013
PostPosted: Sun Oct 25, 2015 9:58 pm 
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Hamilton 3 times world champion - In what was race of the season.

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 Post subject: Re: F1 2013
PostPosted: Sun Oct 25, 2015 9:58 pm 
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Hamilton 3 times world champion - In what was race of the season.

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 Post subject: Re: F1 2013
PostPosted: Mon Dec 21, 2015 2:28 pm 
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BBC end F1 contract early.

Channel 4 to take over from next season


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 Post subject: Re: F1 2013
PostPosted: Mon Sep 05, 2016 9:53 pm 
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A media mogul nicknamed “Darth Vader” is close to taking control of Formula One in a deal that will net billions of pounds for the private equity firm that controls the sport.

John Malone’s Liberty Media, which owns a collection of media, telecommunications and entertainments businesses, could announce it is investing in F1 as early as this week after talks with CVC Capital Partners, which has controlled the sport for a decade.

It is understood Liberty Media will initially buy a stake in Formula One of up to 20% before taking full control later in the year. The deal will value the sport at around £6.4bn (US$8.5bn).

An analysis last year by Formula Money found CVC has made $4.4bn from the sport. It now owns 35.5% of the stock in the sport’s parent company but has control as its shares have special voting rights. The other shareholders include Waddell & Reed, an American fund manager which has a stake of just under 20%, while Bernie Ecclestone holds 5.3% and his Bambino Trust another 8.5%.

The future of Ecclestone, the chief executive of Formula One Group, will be one of the key decisions facing the new owner. The German magazine Auto, Motor und Sport reported on Sunday that a deal with Liberty Media is set to go ahead. Ecclestone also suggested he is likely to keep a key role in the sport. “I will do what I have always done. What role I play is my decision.”

Chase Carey, a key lieutenant of Rupert Murdoch at News Corporation and a non-executive director of Sky, is being lined up to become chairman of Formula One.

Malone and Murdoch have a long-running rivalry in the media industry. Malone has built up a global empire that includes Discovery Communications, the owner of the Discovery and Eurosport channels, Virgin Media and the Atlanta Braves baseball team. He was nicknamed Darth Vader by Al Gore, the former US vice-president, for his aggressive dealmaking.

The tycoon has a long-standing interest in Formula One. Liberty Media’s sister companies Liberty Global and Discovery Communication were close to a deal in 2014.

Formula One is one of the most profitable sports in the world. Other companies that have been linked with buying into it include Sky, the Qatari owner of Paris Saint-Germain football club, and even Apple.

Formula One Group holds the commercial rights to the sport, making its money from sponsorship deals, television rights and charging fees to the venues that host the grands prix. The profits for the owner are in contrast to the financial struggles of some of the teams and the tracks. Silverstone, for example, struggles to make a profit despite attracting 150,000 fans for the British Grand Prix.

Formula One claims to be the most-watched sport on global television. However, it is under pressure to modernise and become more entertaining due to the current dominance of Mercedes, whose drivers are Lewis Hamilton and Nico Rosberg and have won 13 of the 14 grands prix this season.

Three years ago, Bob Fernley, the deputy team principal at Force India, accused CVC of “raping the sport” and said they were the “worst thing that has ever happened to Formula One”.

CVC bought a 70% stake in Formula One in 2006 for around $1.7bn and has more than doubled its money even before giving up control of the sport. The private equity firm has made the money through dividends from Formula One and selling minority stakes to investors such as giant US fund manager BlackRock and the Norwegian sovereign fund.

The estate of Lehman Brothers, the bank whose collapse sparked the financial crisis in 2008, also holds a stake in the business. Formula One is so profitable the administrators to Lehman Brothers decided to retain the bank’s holding in the sport to help pay off it debts.


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 Post subject: Re: F1 2013
PostPosted: Fri Dec 02, 2016 2:55 pm 
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So a week after winning his first world title Nico Rosberg has decided to retire from F1 to spend time with his family.

He says he's achieved his dream so sees no reason to continue


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