03/02/2007
NEWS STORY
The was much mirth among journalists attending the launch of the Williams FW29 at Grove yesterday. For most had noticed an article in The Times by Kevin Eason, which appeared in his 'The Insider' column.
Mr Eason wrote of the rapidly developing relationship between the Middle East, pointing out the fact that the Bahrain ruling family recently purchased a 30 percent stake in McLaren, while Abu Dhabi's state-run property business, Mubadala Development Company, has acquired 5 per cent of Ferrari.
It was pointed out that though the Middle East has become "crucial" to the sport's finances, the money flow both ways, for in addition to global TV exposure, Bahrain earned £201 million from last year's event, equivalent to 3 per cent of its gross domestic product.
As we anticipate official confirmation of a Formula One World Championship Grand Prix in Abu Dhabi, Mr Eason wrote of last week's event on the streets of the city, which he claimed will have "pleased the Mubadala Development Company".
It probably will have pleased it, but not half as much as this week's event, which will be attended by the majority of the F1 teams and a number of F1 'big wigs', including Bernie Ecclestone.