Formula One
Bernie Ecclestone and German bank BayernLB have sold their controlling stake in Formula One to CVC Capital Partners for an undisclosed sum. The sale gives the investment company 75 per cent control of F1. However Ecclestone will hold onto the chief executive post at Formula One Group as well as retaining a stake in the business.
There has been much talk about the supposed benefits of nitrogen inflation during the course of this year. Some people call it a gimmick, others take the view that the technological benefits are based on science and that the economic benefits are not to be sniffed at. With this in mind Tyres & Accessories addresses the myths surrounding nitrogen inflation.
Nitrogen tyre inflation is more common than you might think. While comprehensive market data is difficult to come by at this relatively early stage in Nitrogen market’s development, the number of systems on the market is definitely in the hundreds. One equipment manufacturer told T&A (rather optimistically) that there are 500 of units currently on the market. If this is correct it is highly unlikely that these units are being used in tyre inflation applications.
Stapletons Tyre Services has made a substantial investment in the relocation and improvement of its Watton branch. Motorist can now benefit from a brand new, dedicated fast fit and exhaust centre.
STS Holburn Tyre and Exhaust Centre in Watton was recently launched by ex-Norwich City FC Goalkeeper, Bryan Gunn. The centre, based at Brecklands Business Park, off Norwich Road hosted a family fun day in conjunction with the official launch, where motorists and families enjoyed competitions, give-aways and discounts on tyres and exhausts.
Formula 1 has gained an 11th team, although it is not certain they will compete in 2006. Former Grand Prix driver, Aguri Suzuki, made an application to compete next year in a car powered by Honda engines and running on Bridgestone tyres. However the fact that the team have to build their own chassis means the Super Aguri Formula One is facing an uphill battle to be ready in time for the beginning of next season.
The team will be based in Tokyo with race operations situated at the former TWR headquarters in Leafield, Oxfordshire, the Telegraph reported. Takuma Sato, BAR test drivers Anthony Davidson and Adam Carroll, and Super Aguri IRL driver Kosuke Matsuura are all said to be under consideration for the drivers’ jobs.
Goodyear is reportedly considering returning to the Formula One motorsport series. F1total.com reports that the American manufacturer is considering getting involved in the sport as a way of responding to the improved market performance that Michelin and Bridgestone have achieved through their involvement. The F1 website speculates that Goodyear could apply for the FIA contract as soon as the series reverts to using a single tyre supplier. Goodyear could also be competing with Kumho for a future F1 contract, the website states.
The FIA World Motorsport Council has officially approved new Formula 1 rules, which will see the series re-introduce a control tyre and bring back tyre changes. The new rules also mean larger wheels and slick tyres will be used. The new rules state: “Each driver will be permitted to use seven sets of dry-weather tyres for each event. All tyres used for qualifying and race must be of the same specification. Tyre changes will be permitted at any time during the race.”
While the reintroduction of pit-stop tyre changes and the use of more than one set of tyres will begin next season, the control tyre concept, larger wheel sizes and slick tyres were originally slated for 2008. However, the FIA has allowed for this collection of rules to be brought forward to 2007 if an 80 per cent majority of the Formula One Technical Working Group agree to do so before the end of December 2005.
A meeting of the Formula 1 commission has voted to re-introduce tyre changes into the racing series. The Daily Telegraph described F1’s decision to reintroduce tyre changes as “far from unanimous”. In addition the series will adopt a new qualifying system for next season as well as a radical alterations to vehicle aerodynamics and appearance.
As Kimi Raikonnen celebrates what he has described as one of his best victories ever, the FIA is said to be considering a U-turn on its policy of keeping to one set of tyres per race weekend. Despite starting back in 17th on the grid, Raikonnen powered to victory on the last lap of the Japanese Grand Prix. Renault’s Giancarlo Fisichella and Fernando Alonso filled the remaining podium places. Once again, Michael Schumacher’s seventh place Ferrari was the only Bridgestone shod vehicle to score points.
Bridgestone has called in some of its celebrity connections to help motivate workers in advance of next weekend’s Japanese Grand Prix. Michael Schumacher, Rubens Barichello, and Ferrari F1 team managing director Jean Todt recently visited Bridgestone’s worldwide headquarters in Tokyo at the invitation of Bridgestone Corporation president, CEO and chairman, Shigeo Watanabe.
Six First Stop dealers joined forces with celebrities from the worlds of television and music recently to raise money for charity. Coronation Street stars Bill Ward and Tina O’Brien, who play Charlie Stubbs and Sarah-Louise Platt in the show, joined Girls Aloud singer Sarah Harding and the dealers on the Bridgestone stand at the Truckfest North West show at Haydock Park Racecourse, Merseyside.
Renault driver Fernando Alonso has become the youngest ever Formula One world champion after coming third in the Brazilian Grand Prix. “I am the youngest champion in Formula One and now I need to find new targets because this one is done,” said the 24-year-old.
Michelin has confirmed it will end its F1 links with Williams and Toyota in a press conference at Spa-Francorchamps on Saturday evening. As expected the company also suggested it would pull-out of Formula 1 altogether if it became a single supplier series. However the sport’s governing body, the FIA, hit back at Eduoard’s Michelin’s statement saying: “If Mr Michelin is not aware of these simple facts he shows an almost comical lack of knowledge of modern Formula 1.”
The Volkswagen Golf GTI, which fits Bridgestone Potenza tyres, has been voted the ‘Greatest Drive’ of 2005 by Auto Express magazine.
“This is excellent news,” said Andy Lane, consumer marketing manager at Bridgestone UK. “The Golf GTI is an exciting, top-of-the-range car that requires the very best in grip and control, and this is just another example of how the UK’s top cars can perform at their best on Bridgestone rubber.”
The speculation that Formula One might soon be under new ownership was correct, but contrary to reports, the sport will not be falling into Far Eastern hands, the Daily Telegraph has reported.
Bernie Ecclestone yesterday dismissed talk of a $1 billion bid from a Hong Kong-based conglomerate, Hutchison Whampoa. “I spoke to Hutchison. They sent a boy to do a man’s job. We are not interested in selling to them. We get offers like this every day, but it is not what we want for the future of F1,” Mr Ecclestone told the newspaper.
Hutchison, a company that also owns the UK’s 3 mobile phone network, is reported to be preparing to buy Formula One for about $1 billion (£575 million). Bernie Ecclestone, Formula One tycoon, confirmed on Sunday that he had been approached by the Hong Kong firm.
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