Could we soon see a new face at the helm of F1? According to the UK's Daily Telegraph, Hong Kong corporation Hutchison Whampoa is readying a $1billion bid to take over the Formula One group. Apparently the three banks that have a 75% stake in F1...
Could we soon see a new face at the helm of F1? According to the UK's Daily Telegraph, Hong Kong corporation Hutchison Whampoa is readying a $1billion bid to take over the Formula One group. Apparently the three banks that have a 75% stake in F1 are happy to sell but Bernie Ecclestone is not so keen.
It seems that Hutchinson, which owns the '3' mobile phone network, sees potential for the sport in Asia but will not buy the banks out without Ecclestone's approval. However, the teams want a larger slice of F1's revenue and the more they get the less enticing F1 may appear to Hutchinson.
Talking of takeovers, a familiar old face is reported to be interested in Minardi. Not so long ago, former racer and general all-round F1 motormouth Eddie Irvine was linked to a Jordan buyout but the deal fell through, allegedly because the asking price was ridiculous.
Now the Irishman is casting his eye over Minardi. Team principal Paul Stoddart admitted that Irvine has been in touch but no serious negotiations have been entered into. "I want to stress that we have not had any discussions with Eddie," said Stoddart, according to AFP.
"I spoke to him back in Monaco on a what-if basis but I believed at that time that they were looking at Jordan. I am aware he is shopping, but they are one of five people that I know are shopping at the moment. We are the only team for sale, I think everyone accepts that, and I have made it clear I would always be willing to sell."
Meanwhile, Williams is rumoured to be looking at a Cosworth engine supply for next season while it hammers out the details of a long-term partnership with Toyota to start in 2007. The Japanese manufacturer currently supplies Jordan and intends to do so again in 2006, but doesn't have the productional capability to supply three teams next year.
However, there's yet to be confirmation from Jordan about its partnership with Toyota, which some find rather intriguing as the Russian owned squad was expected to make an announcement back in France.
After taking some criticism for not signing the document sent by drivers to FIA president Max Mosley in regard to safety issues after Indy, Michael Schumacher is expected to attend the drivers' meeting with Mosley in Cannes on August 1st. So far 12 drivers are planning to be present, the others claiming prior committments.