the B said:
Montezemolo (Fiat and therefore Ferrari president) has made a point few F1 team directors would make, that the FIA should give more TV money to the teams, he said they currently receive 47% of it.
Which makes me wonder...where does the other 53% go?
Bernie's pockets maybe...but it was interesting to see that since not all the change in F1 has to be based around cutting costs.
Rain is no longer expected, sadly.
The TV rights have been sold by the FIA to Formula One Management which is owned (effectively) by SLEC which stands for SLavica ECclestone, Bernies statuesque wife. I say effectively, since a consortium of German banks own a majority of FOM – they just don't have the management rights!
The share of TV income that goes to the F1 teams was decided waaaaay back when Bernie (then 100% owner of FOM) agreed to take on the onerous task of marketing F1 on behalf of the FIA.
The teams agreed the split in the original Concorde agreement, so it's a bit rich complaining now, after Bernie has made F1 the marketing goldmine that it currently is today. I don't doubt they have a good point, but they signed the contract Bernie put in front of them!
In fact, the contract between the FIA and FOM, has recently been renewed for a period longer than the lifespan of a 20 year old F1 fan! (not sure exactly how long, but seriously long!)
The current Concorde agreement expires in 2007 and will be re-negotiated shortly. The teams will un-doubtedly get a bigger share of the TV income (and other sources of revenue they currently don't share in, like ticket income and circuit advertising) which is why Montezemolo has been so consistently strident in his calls for an increase in revenue for the teams, using the stick of Ferrari withdrawal from the series as his bargaining chip.
That, and the threat of a manufacturers series (the GPWC) which would see FOM (and the banks) put out of business. That scenario is very unlikely, cos the manufacturers can't get their act together and have no Bernie-like-figure to handle the deal.
In answer to your question, the 53% goes to FOM which is, as I said owned by a consortium of banks and SLEC, so a substantial amount does end up (indirectly) in Bernie's pocket.
The question of why a substantial % of the rights to F1 racing belongs to a bunch of German bankers, is the subject of another post all by itself.
The FIA are only the sporting authority and FOM/SLEC are the contracted marketers. Big difference!
But hey, can you believe just how dominant the Ferraris were? Literally light years ahead of the competition!
And what about MacLaren? So strong in Spa and nowhere in Imola.
Not a good omen for the 2005 season!