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Pierre Gasly gets the Red Bull drive
I'm wishing we had betting shops here as I'm 2/3 of the way on my driver prediction for next season, I have a couple of bets with friends but no real money on them All I need now is Toro Rosso to say Lando Norris is replacing Gasly and I'm on for many free drinks in our local bar
Today Red Bull have announced Pierre Gasly will be racing alongside Max Verstappen at Red Bull, Gasly is reported as saying Helmut Marko called him to give him the news "just to let you know we've made our decision and we'd like you to race alongside Max" Marko told me", he also told the press "When the call ended I ran around the house shouting to my mates and they all jumped in the pool straight away. There was so much excitement and I was so happy because it's something I've wanted for a long time".
Force India's new owners could face legal challenge
Other groups who were bidding for force India have claimed the administrators may not have acted in the best interests of the team. One of the groups a Russian consortium have made a number of statement and are considering legal action. Uralkali, the company linked to the father of GP3 racer Nikita Mazepin, has questioned if administrators acted in either Force India or Formula 1's best interests when agreeing a deal for the struggling team to be bought by a consortium led by Lawrence Stroll. Force India entered administration last month following mounting financial difficulties in action triggered by driver Sergio Perez, but was rescued after a consortium led by Stroll, the father of current Williams driver Lance Stroll, agreed to buy the team. The deal saved all 405 jobs at Force India and secured its future in F1, but it has now been challenged by Russian chemical company Uralkali, among whose directors is Dmitry Mazepin, who had its own bid rejected.
Uralkali confirmed in a statement it had "assembled a team of professionals (including lawyers, accountants, insolvency experts and a Formula 1 specialist) to prepare and submit a competitive bid for Force India" on August 3, with options to either take a controlling stake in the team or acquire the business and assets. Upon our discussions with the shareholder representatives, it became apparent to us that the rescue option (at least on the conditions and within the timeframes put forward to us by the Administrator and consistent with our own code of integrity) was not achievable due to the complexity of legal structure, the extended period of time required to obtain consents of the 13 Indian banks and to obtain approval of a UK court for an amendment to the freezing injunction," the statement adds. "Uralkali submitted a restated proposal on August 6, 2018 which, due to the above reasons, no longer offered a rescue option but set out a very attractive proposal to purchase business and assets of Force India on a going concern basis."
Despite exploring various options over the days that followed, Uralkali claims that the court-appointed administrator, FRP Advisory, "refused to engage with Uralkali team, did not reply to phone calls and emails and communicated with Uralkali in a single email following close of business on August 7, 2018 that it had entered into an exclusivity arrangement with another bidder regarding a proposal to rescue the company. "Despite expiration of the deadline set by the Administrator, no rescue plan was submitted to the court for approval, which confirmed Uralkali’s view that the rescue option was not achievable in the timeline and under conditions proposed by the Administrator. Under these circumstances, it is surprising that no attempt was made by the Administrator to engage with Uralkali with respects to its bid for the assets and business of Force India."
The statement from Uralkali ended with the company questioning whether the administrator had acted in the best interest of either the team or F1 as a whole in agreeing a deal with the Stroll-led consortium. "Uralkali always emphasised its desire to bring transparency, proper corporate governance and financial stability to Force India, in this connection, Uralkali considers that the process conducted by the Administrator may not be in the best interests of Force India creditors and other stakeholders, and the sport in general" the statement reads.
Monza ticket sale very slow putting the race at risk once again
Monza's deal to host the Italian GP runs out after next year's race, with some fraught negotiations back in 2016 to put together a short term arrangement. Despite Ferrari's resurgent form in F1, it does not appear to have been enough to interest fans and a decline in sales for next month's race has raised fresh concerns about the future of the grand prix.
Speakin to Gazzetta dello Sport Angelo Sticchi Damiani, the president of the Automobile Club d'Italia said "A year ago Vettel had gone on holiday as the world championship leader, now he is in the role of pursuer. My wish is the exact opposite of what happened a year ago, when from Monza onwards Mercedes took off. We closed last year's race with a strong loss, and the 2018 budget will not be different either, it is clear that such a situation is not sustainable in the long term. The ACI is ready to do its part, but not under any conditions. Chase Carey has always told me that an F1 without Monza is unthinkable, and in four years it will celebrate its centenary. We agree on that, but we must also deal in facts".
The decline in sales will put fresh financial pressure on Italian officials and Damiani is worried that the money situation is unsustainable unless the rights fee paid to F1 is reduced.
I'm wishing we had betting shops here as I'm 2/3 of the way on my driver prediction for next season, I have a couple of bets with friends but no real money on them All I need now is Toro Rosso to say Lando Norris is replacing Gasly and I'm on for many free drinks in our local bar
Today Red Bull have announced Pierre Gasly will be racing alongside Max Verstappen at Red Bull, Gasly is reported as saying Helmut Marko called him to give him the news "just to let you know we've made our decision and we'd like you to race alongside Max" Marko told me", he also told the press "When the call ended I ran around the house shouting to my mates and they all jumped in the pool straight away. There was so much excitement and I was so happy because it's something I've wanted for a long time".
Force India's new owners could face legal challenge
Other groups who were bidding for force India have claimed the administrators may not have acted in the best interests of the team. One of the groups a Russian consortium have made a number of statement and are considering legal action. Uralkali, the company linked to the father of GP3 racer Nikita Mazepin, has questioned if administrators acted in either Force India or Formula 1's best interests when agreeing a deal for the struggling team to be bought by a consortium led by Lawrence Stroll. Force India entered administration last month following mounting financial difficulties in action triggered by driver Sergio Perez, but was rescued after a consortium led by Stroll, the father of current Williams driver Lance Stroll, agreed to buy the team. The deal saved all 405 jobs at Force India and secured its future in F1, but it has now been challenged by Russian chemical company Uralkali, among whose directors is Dmitry Mazepin, who had its own bid rejected.
Uralkali confirmed in a statement it had "assembled a team of professionals (including lawyers, accountants, insolvency experts and a Formula 1 specialist) to prepare and submit a competitive bid for Force India" on August 3, with options to either take a controlling stake in the team or acquire the business and assets. Upon our discussions with the shareholder representatives, it became apparent to us that the rescue option (at least on the conditions and within the timeframes put forward to us by the Administrator and consistent with our own code of integrity) was not achievable due to the complexity of legal structure, the extended period of time required to obtain consents of the 13 Indian banks and to obtain approval of a UK court for an amendment to the freezing injunction," the statement adds. "Uralkali submitted a restated proposal on August 6, 2018 which, due to the above reasons, no longer offered a rescue option but set out a very attractive proposal to purchase business and assets of Force India on a going concern basis."
Despite exploring various options over the days that followed, Uralkali claims that the court-appointed administrator, FRP Advisory, "refused to engage with Uralkali team, did not reply to phone calls and emails and communicated with Uralkali in a single email following close of business on August 7, 2018 that it had entered into an exclusivity arrangement with another bidder regarding a proposal to rescue the company. "Despite expiration of the deadline set by the Administrator, no rescue plan was submitted to the court for approval, which confirmed Uralkali’s view that the rescue option was not achievable in the timeline and under conditions proposed by the Administrator. Under these circumstances, it is surprising that no attempt was made by the Administrator to engage with Uralkali with respects to its bid for the assets and business of Force India."
The statement from Uralkali ended with the company questioning whether the administrator had acted in the best interest of either the team or F1 as a whole in agreeing a deal with the Stroll-led consortium. "Uralkali always emphasised its desire to bring transparency, proper corporate governance and financial stability to Force India, in this connection, Uralkali considers that the process conducted by the Administrator may not be in the best interests of Force India creditors and other stakeholders, and the sport in general" the statement reads.
Monza ticket sale very slow putting the race at risk once again
Monza's deal to host the Italian GP runs out after next year's race, with some fraught negotiations back in 2016 to put together a short term arrangement. Despite Ferrari's resurgent form in F1, it does not appear to have been enough to interest fans and a decline in sales for next month's race has raised fresh concerns about the future of the grand prix.
Speakin to Gazzetta dello Sport Angelo Sticchi Damiani, the president of the Automobile Club d'Italia said "A year ago Vettel had gone on holiday as the world championship leader, now he is in the role of pursuer. My wish is the exact opposite of what happened a year ago, when from Monza onwards Mercedes took off. We closed last year's race with a strong loss, and the 2018 budget will not be different either, it is clear that such a situation is not sustainable in the long term. The ACI is ready to do its part, but not under any conditions. Chase Carey has always told me that an F1 without Monza is unthinkable, and in four years it will celebrate its centenary. We agree on that, but we must also deal in facts".
The decline in sales will put fresh financial pressure on Italian officials and Damiani is worried that the money situation is unsustainable unless the rights fee paid to F1 is reduced.