Bernard Ecclestone turned 86 in October. For more than 40 years he has been at the top of Formula 1; calling the shots, single-handedly negotiating some very difficult patches that would have no doubt defeated others decades younger and making boat loads of money along the way for everyone involved in the process. There was no sign that he was getting set to hand over the reigns, at least willingly, anytime soon, but fate, as they say, waits for no man.
To say he is a survivor is to miss the point. Mr E is an impresario. To use a popular term in tech circles these days he’s a “founder” and a renaissance man who fashioned an entire industry out of bits of metal and rubber with a dash of pizzazz. He made it up as he went along seizing opportunities and mitigating risk. What started as a game of roulette became Mr Ecclestone’s favorite game of Backgammon, a strategy game with a high risk factor that routinely separates a fool from his money if he fails to appreciate that.
Ecclestone (and don’t call him Bernie unless you are on familiar terms) has always maintained, with a dismissive wave, that regardless of who owns the shares, from time to time, he runs Formula 1 as if it all belonged to him. He insists he isn’t concerned about legacy. That would be looking back and he’d rather sort out what’s right in front of him.
Formula 1’s shareholders, including CVC, had, so far, been happy to oblige. Why not? The sport generated a return in excess of 350% on their original investment of $2B ten years ago. A substantially better return than most of CVC’s portfolio. Certainly strong enough to attract several serious tire-kickers over the past few years. Yet none of them had the capacity and experience to really take Formula 1 to the next level and beyond until last September. And just like that, whether he liked it or not, Mr Ecclestone was faced with new players at his table.
THE ESSENTIAL MOMENT
This story is from the February 2017 edition of Paddock magazine.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the February 2017 edition of Paddock magazine.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
How To Save The Formula 1 Show
Formula 1 is facing a fall of popularity. Since 2008, the motorsport category has lost around 200 million viewers. But not only that, attendance to the races has also dropped. Indeed, Sebastian Vettel, the four-time world champion has blamed expensive tickets and reduced engine noise to explain this phenomenon. However, it is important to bear in mind that the drop in viewing figures also affects the assistance to the tracks. Malaysian Grand Prix will stop hosting the race after 2018. Canadian GP is not guaranteed either, despite Lance Stroll signing with Williams. Singapore Grand Prix is expected not to renew the contract with FIA, holding the last race next year. As if that was not enough, Brazil, German and British GP’s future hang by a thread. But since there is no point in crying over spilt milk, here there are some advice FIA could follow in order to enhance the sport’s popularity and figures.
Autonomy Is Ev's Killer App
Mark Preston is a Formula E Team Principal and founder of Street Drone, not to mention all the years he has worked in Formula 1 with McLaren and Arrows. Today Mark predicts that the application of autonomous technologies will unlock greater efficiency and provide a cutting edge for automotive businesses.
Date With Destiny
Bernard Ecclestone turned 86 in October. For more than 40 years he has been at the top of Formula 1; calling the shots, single-handedly negotiating some very difficult patches that would have no doubt defeated others decades younger and making boat loads of money along the way for everyone involved in the process. There was no sign that he was getting set to hand over the reigns, at least willingly, anytime soon, but fate, as they say, waits for no man.
Allan Mcnish: “What Is Formula 1?”
Opportunities to interview great and revered racing drivers are not that often, especially when their schedules are always packed with too many commitments. However, I just had the chance to interview Allan McNish on topics close to him and I would very much like to thansk Allan for his time and his very open answers. Enjoy!
My Race Day: Carmen Jorda
Renault F1 development driver Carmen Jorda shares her typical race day schedule with the Paddock magazine
Change At The Top
Can Liberty media extract what it needs from Formula 1 whilst enhancing the show and solving world peace at the same time? Ross Brawn is here to help.
A Different Side To Rolls-Royce
For more than a hundred years, Rolls-Royce had been considered a timeless icon in the automobile history, presenting a graceful design flow, sweeping audiences off their feet with outstanding lines and surfaces. This time we take a look at a bit different affairs that got our attention.
A Curve Rather Than A Sharp Turn
We’re honoured to have Mr Erwin Bamps, CEO of a tremendous yacht and boat building company Gulf Craft with us again to talk about what 2017 might bring to the exclusive and luxurious world of yachting.
