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bewildered_jim
Grand Prix Winner


Joined: 21 Jan 2005
Posts: 2243
Location: Edinburgh

PostPosted: Thu Aug 04, 2011 12:39    Post subject: Dear Adam Reply with quote

http://www.pitpass.com/44429-Parr-for-the-course

Dear Mr. Parr,

Seeing as I am now to start part funding Formula one, I have decided:

1) Don't bother with KERS
2) Bring back Imola and drop Turkey
3) Increase in-car camera quality.

If you could have these sorted by the time I start part-funding your job in March, that'd be great.

Cheers,

Donald.

On a more serious note: [naivety]I will expect fan forums and the like to be actually listened to in the future [/naivety]

P.S. I'm sure all the oil-stained, sleep deprived mechanics liken their jobs to Cirque de Soleil in all it's flaming glory.
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"With its F1 coverage from 2012 set to play second fiddle, the BBC promises to get fans close to the true experience - of being Mark Webber" #HIGNFY @don_lyall
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solarflare
World Champion


Joined: 10 Oct 2005
Posts: 3281

PostPosted: Thu Aug 04, 2011 15:03    Post subject: Reply with quote

Of course if CVC wasn't draining a huge chunk of money from the sport it wouldn't be remotely necessary to squeeze every last penny from the fans, circuits and broadcasters.
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Wee-Scamp
Kart Novice


Joined: 04 Aug 2011
Posts: 24
Location: Scotland

PostPosted: Thu Aug 04, 2011 16:27    Post subject: Reply with quote

If F1 wanted to save money then:

1. It should stop piddling around with DRS and KERS systems and save development cash on things it shouldn't be doing.

2. To ensure its environmental credentials it should start using 100% biofuel and drop this ludicrous proposal to bring in a new engine..

3. Cut back the number of races to 15
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Podge 90
F2 Racer


Joined: 31 Mar 2010
Posts: 486

PostPosted: Thu Aug 04, 2011 18:36    Post subject: Reply with quote

For my money, I want bloody helmet cameras!! Been waiting long enough for this simple, easy inclusion.
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matibee
Kart Champion


Joined: 04 Aug 2007
Posts: 66

PostPosted: Thu Aug 04, 2011 21:01    Post subject: Reply with quote

Dear Mr Parr,

Whenever I've brought GP tickets or team merchandise I'm sure you've felt a warm glow from knowing I chose to put my cash directly into Formula One but I now get the feeling from your recent comments that my continued viewing on a free-to-air TV channel shows a lack of respect for the amount of money it costs to run Formula One.

That's bollocks.

All of the BBC's 6,900,000 viewers will have been watching on a licensed TV set. My TV license fee is covering the cost of Formula One much more directly than than any TV ad revenue ever has since my take up of products or services shown in the commercial breaks during ITV's coverage totals zero. The TV license fee payers have a shockingly small say in how it is spent but I do feel lucky that at least some of it in recent times has gone to my favourite sport. Fans of other sports have had a right to be jealous.

I put it to you that something F1 needs more than anything is eyeballs.

I might be the only person in my house that follows F1 but today I conducted a simple test on my wife and two children. I asked them to list in 15 minutes, from memory, brand names (past or present) associated with F1. Here are a selection of results:

Wife (aged 30+): Benson & Hedges, Santander, Vodafone, Mumm, Mclaren, Ferrari, Orange, Mercedes, Rolex, Mobil, Pirelli, Bridgestone, First Direct (HSBC), Hugo Boss etc

Total: ~30

Son (aged 15): ING Direct, Red Bull, Vodafone, Inifity, BMW, Lotus, Mercedes, Ferrari, Samsung, Michelin, Shell, Virgin

Total: ~20

Daughter (aged 12): Red Bull, Santander, Ferrari, Fosters(?)

Total: <10 (As a side-note, she is registered partially sighted).


That's a pretty good reach for F1 sponsors, across an audience that have mostly left the room when a Grand Prix is on, too bored to care. There's been many a time when I've felt like following them but that's detracting from the point.

The point is, that reach that will cease once F1 moves to Sky. I'm not interested in watching highlights when I can fast forward through the interesting bits or read who won and how in a single headline once the race has finished out of my sight. I cannot afford a Sky subscription although I just might if I diverted funds away from my ING savings account or my Santander mortgage and gave up any hope of buying an actual Grand Prix ticket.

I fear this scenario will be played out across millions of UK homes in 2012 and the value of F1 will fall in the eyes of your sponsors. Your comments of late appear to be oblivious to this concern.

If Circ du Soliel could put their show out on free-to-air TV in the UK with every performer sporting a sponsor laden outfit, I'm sure their show would be completely free and extremely profitable.
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bewildered_jim
Grand Prix Winner


Joined: 21 Jan 2005
Posts: 2243
Location: Edinburgh

PostPosted: Fri Aug 05, 2011 09:36    Post subject: Reply with quote

Podge 90 wrote:
For my money, I want bloody helmet cameras!! Been waiting long enough for this simple, easy inclusion.


DC had one in late 2008 and it was pretty cool.
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White Turf
F3 Racer


Joined: 02 Jun 2005
Posts: 289
Location: Galway Ireland

PostPosted: Fri Aug 05, 2011 10:55    Post subject: Reply with quote

I wont quote Matibee's post above , but would just like to say thank you for encapsulating the whole reason for free to air coverage in the first place. It sums up just how far F1 reaches.
I recently took part in a phone survey about F1 sponsors and the young man seemed a bit taken aback when I mentioned Marlbro in the context of McLaren, or John Player, or Yardley or Goodyear or Elf or Candy or Saudia or Rothmans..... I could go on. We do remember these brands, but without free to air coverage will this continue into the future? I suppose only time will tell. However if Matibee is correct then Mr Parr will soon be looking for work outside F1 as I suspect Williams will not survive without sponsors.
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Podge 90
F2 Racer


Joined: 31 Mar 2010
Posts: 486

PostPosted: Fri Aug 05, 2011 12:00    Post subject: Reply with quote

bewildered_jim wrote:
Podge 90 wrote:
For my money, I want bloody helmet cameras!! Been waiting long enough for this simple, easy inclusion.


DC had one in late 2008 and it was pretty cool.


Ye in the white Red Bull car. That was a little too low though, you couldn't really see over the wheel. There's footage of Kubica tootling around Monza (just a brief 30 second snippet - easily found on the interwebz) and it really does give a better sense of being smashed around in the cockpit than the T-cams. I've always imagined what the Kimi-Lewis fight at Spa would have looked like from both perspectives *in* the car, I'm sure it would have been classic footage.

Just another way to make F1 more interactive for the spectators, at least.
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Editor
Site Admin


Joined: 19 Feb 2004
Posts: 4033
Location: England

PostPosted: Fri Aug 05, 2011 12:04    Post subject: Reply with quote

White Turf wrote:
I wont quote Matibee's post above , but would just like to say thank you for encapsulating the whole reason for free to air coverage in the first place. It sums up just how far F1 reaches.
I recently took part in a phone survey about F1 sponsors and the young man seemed a bit taken aback when I mentioned Marlbro in the context of McLaren, or John Player, or Yardley or Goodyear or Elf or Candy or Saudia or Rothmans..... I could go on. We do remember these brands, but without free to air coverage will this continue into the future? I suppose only time will tell. However if Matibee is correct then Mr Parr will soon be looking for work outside F1 as I suspect Williams will not survive without sponsors.


And Durex

Laughing
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Ash
F3 Racer


Joined: 26 Mar 2011
Posts: 208

PostPosted: Fri Aug 05, 2011 14:39    Post subject: Reply with quote

I used to wonder for years what Veltins was. I think I assumed it was a Russian cigarette or vodka because it looked like Yeltsin.

I only recently discovered that it was a German lager. Surprised

The first brand I ever noticed as a child was elf though, on Jackie Stuart's car. I did wonder what the pointy-eared fantasy creatures had to do with racing cars.
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AllanL
F3 Racer


Joined: 08 Jul 2009
Posts: 214
Location: Thereabouts

PostPosted: Fri Aug 05, 2011 22:01    Post subject: Reply with quote

Having read Maurice Hamilton's Williams book, which is pretty much a love-in by folk who have been involved with Frank and Patrick down the years, I was puzzled that this wuckfit (my sister-in-laws acronym for idiots on the road) had no mention. Perhaps he is too far up his own backside to see that anyone else in the Williams organisation exists.

There again perhaps Nick Fry has been cloned, how many bumptious ineffective self-absorbed buffoons does F1 need?

Given his track record so far, I haven't see him bringing any memorable sponsors to Williams since he joined, I can't see Williams lasting long after Frank and Patrick part ways with the team.
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Brace
Kart Novice


Joined: 16 Jul 2011
Posts: 18

PostPosted: Sat Aug 06, 2011 18:36    Post subject: Reply with quote

solarflare wrote:
Of course if CVC wasn't draining a huge chunk of money from the sport it wouldn't be remotely necessary to squeeze every last penny from the fans, circuits and broadcasters.


That really is the core of most of the financial problems in F1, and thank God someone mentioned it instead of talking about other problems that are pretty much just consequences of that.

Bernie always keeps talking how running FOM (broadcasting equipment and stuff...) is expensive, hence he needs 50% of revenue.
I mean, who in their right mind could really believe that running FOM requires more money then running 12 teams. Question
They are just using it as a cashcow, while not investing a single penny back in it.
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easy_rider
F1 Driver


Joined: 07 Mar 2005
Posts: 983

PostPosted: Sun Aug 07, 2011 12:14    Post subject: Reply with quote

Brace wrote:
solarflare wrote:
Of course if CVC wasn't draining a huge chunk of money from the sport it wouldn't be remotely necessary to squeeze every last penny from the fans, circuits and broadcasters.


That really is the core of most of the financial problems in F1, and thank God someone mentioned it instead of talking about other problems that are pretty much just consequences of that.

Bernie always keeps talking how running FOM (broadcasting equipment and stuff...) is expensive, hence he needs 50% of revenue.
I mean, who in their right mind could really believe that running FOM requires more money then running 12 teams. Question
They are just using it as a cashcow, while not investing a single penny back in it.


This is very true. CVC's response would be that they need to increase the value of the business (so they can ultimately exit at a profit) and so it's not in their interest to milk it as a cash cow. However, that won't be the whole story.

As with most private equity targets, F1 has become highly indebted and the need to service that debt is the main area of cash drainage. This has been the case for some years now but I don't know what the more recent situation is, now we are in a (weak, maybe faltering) economic recovery.

Would be fascinating to know how much money is being drained out by CVC - though given that they (presumably) don't publish accounts it could be difficult to find out.
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gourami
F1 Driver


Joined: 14 Dec 2004
Posts: 856
Location: S Y D N E Y

PostPosted: Sun Aug 07, 2011 12:50    Post subject: Reply with quote

VC firms normally acquire an asset, manage it on the EBITDA line, take out surplus cash and assets and then sell it when they can show potential owners the maintainable EBITDA at multiples that conforms with the investment plan.

It's a money play and it doesn't matter what business it is.

Sigh, I know a bit about these things, but I also know things in life are not all about money.

Our sport is funding a few young boys' BMWs, Ferraris and jet set lifestyles.

It's a money go round and we can't get off.

I just wish the FIA wasn't so commercially naive, or self serving, when it signed away the F1 rights for 99 years in return for little more of what it can throw off each year.

The teams *should* have broken away years ago - and we can blame McLaren, Ferrari, Williams and others just as much as we can blame Mosely, the FIA, Bernie, Kirch, CVC or anyone else for the status quo.

Ferrari! McLaren! Lead the revolt and let's go racing. For the fans!
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Watching F1 since 1998... trackside at Silverstone, Shanghai and Melbourne.
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Gary
F1 Driver


Joined: 15 Oct 2007
Posts: 928
Location: Australia

PostPosted: Thu Sep 08, 2011 02:31    Post subject: Reply with quote

See Williams reveals interim financial results.

Look, I know racing teams need to run their businesses properly but doesn't this strike you as so 'Williams under Parr'? All that core business and group strategy stuff. Rolling Eyes Makes you wonder where the emphasis of that group of people might lie. I was in no doubt where it lay in the '85 to '97 period.

Brings to mind a multinational food company for which I worked decades ago. The CFO said to me one day, "From an accountant's perspective, N----- is a rather large bank. One of its minority interests is in the food business."

Adam would dig that! Very Happy
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