24/03/2016
NEWS STORY
Bernie Ecclestone has responded to a letter from the GPDA calling for urgent change in the governance of the sport.
Just one race into a the busiest season in its history, Formula One is doing what it has always done best... shooting itself in the foot, and doing its dirty washing in the full glare of the media spotlight.
Having begun the season with a qualifying format that was universally ridiculed and then followed it up with a race that saw the 'usual suspects' on the podium, the aptly named circus heads to Bahrain... with the sport yet to agree on a format for qualifying and the drivers publicly calling for an overhaul of the sport.
In a brief note of response to the GPDA today, Ecclestone, who was not named in the drivers' open letter, the Briton agrees with their basic argument but one would have to question why and to what extent.
His response reads:
Dear Gentlemen,
I am not sure if this is the right description. It is not always easy to agree with you but you are correct in stating that the decision making progress in the sport is obsolete and ill structured.
We must as you have stated urge the owners and all stakeholders of Formula One to consider restructuring its own governance.
It is easy to analyse what is wrong so why not think and come back on this. At least it is better to think before you wish.
I have been in formula One for nearly fifty years in an active role and another eighteen involved in some way. You state that every individual acts with the very best intentions. I am not sure if this is a misprint. If not, it should read "with their very best intentions".
Best wishes
Bernie.
When one thinks of stakeholders, one immediately thinks of CVC and Ecclestone, whilst forgetting about the FIA (which owns 1%), American asset management company Waddell and Reed (20.7%), Bambino Holdings (8.4%), Lehman Brothers and various others.
The teams can also be considered stakeholders since much of their income comes from the prize fund, which is well worth considering when one complains about the deal which will see free-to-air coverage of the sport disappear from screens in the UK in 2019, for despite their protestations the teams will reap the rewards of the (rumoured) £300m deal.
Whilst some claim Ecclestone's response sees him agreeing with the drivers, this doesn't appear to be the case, indeed it would seem that the Briton sees the open letter as a means to push his own agenda. Indeed, the very last line, in which he mentions "their very best intentions" will be aimed at the engine manufacturers and teams.
It is a mess, and sadly as the various 'interested parties' line up to voice their concern for the sport, it and the fans who really do care for it continue to suffer.