Another title sponsor having problems
Racing Point title sponsor appears to be having a little problem, SportPesa their sponsor is a Kenyan sports betting company set up with Bulgarian finance. Their business has been put into recent doubt as the Kenyan government has introduced controls on advertising and the ability for bets to be placed on mobile networks. SportPesa insists it will not force a closure, despite business having halted according to local reports.
SportPesa's issues come hot on the heels of another controversy surrounding a new title sponsor in F1, Rich Energy. The energy drinks company has been reformed as Lightning Volt this week after a bitter public battle which saw CEO William Storey ousted after trying to terminate the Haas sponsorship over perceived poor performance.
In a statement just released SportPesa said "SportPesa wishes to refute claims that our business is closing down. We are in discussions with the government and relevant stakeholders and are positive that we will be back to full operation soon. Note that any update regarding our business is communicated through our channels".
Uralkali and Force India administrators Court case
Uralkali, who tried but failed to buy Force India last year, will face the F1 team’s administrators in court in 2020. Uralkali, a Russian chemical company owned by Dmitry Mazepin, was keen on buying the Force India team when it was placed into administration last July. However, instead a consortium led by Lawrence Stroll took over the F1 team, rebranding it Racing Point. Uralkali cried foul, blaming administrators FRP Advisory LLP and threatening legal action. That is now going ahead with Uralkali revealing the matter will go to trial in late 2020 with the company seeking “substantial damages” after losing out to a “lower bidder” in what they feel was a “flawed sales process”.
A statement from Uralkali said: “On July 17, the High Court in London conducted a case management conference, which was an early procedural hearing, of the suit earlier launched by Uralkali against the Administrators. During this hearing the court considered case management issues and settled the timetable for further steps up to trial, which was scheduled to take place between October and December 2020. Prior to trial, the parties to the proceedings will be required to disclose certain correspondence and other documents relating to the Bidding Process, and will exchange witness evidence in April 2020. Earlier in December 2018, two US district courts decided to compel members of the Racing Point consortium residing in US to provide documents and testimony, which may assist in support of Uralkali’s claim in the High Court in London. Uralkali’s legal claim against the Administrators highlights significant areas of concern regarding the conduct of the Bidding Process, including:
* Failure by the Administrators to determine the highest bid in the process — from Uralkali — as successful;
* Misrepresentations and lack of transparency in the process run by the Administrators;
* A flawed sales process which failed to achieve the maximization of sale proceeds for creditors, shareholders and other stakeholders.”
Uralkali believe they made a financial offer far above what Stroll and his consortium brought to the table. Teit statement continued "Uralkali set out an extremely generous offer to acquire the company’s business, assets and goodwill, which included a cash consideration of between £101.5 million and £122 million, depending on the specific structure of other bids, the offer proposed sufficient funding to satisfy the claims of all creditors in full (including assumed claims) and included an undertaking to provide significant working capital and a new investment program over a 5-year term to ensure the future success of Force India. Despite Uralkali’s generous offer, which we believe was the best bid on the table, the Administrators chose to enter into an exclusivity arrangement with a lower bidder and subsequently refused to reengage with Uralkali or any other bidders. Due to Uralkali’s concerns as to the Bidding Process, Uralkali had no option but to launch these proceedings and seek substantial damages. Uralkali intends to continue vigorous pursuit of its claims against the Administrator in the High Court in London.”
Mattia Binotto to give up all technical director responsibilities
Mattia Binotto is reportedly going to drop all technical director responsibilities in order to fully focus on his role as Ferrari team principal. Binotto who has effectively been performing a duel role at the Scuderia this season, will stand down as technical director and, in his place, will be a three-man team rather than one direct replacement. No official announcement has been made yet, but one could be on the way as we gear up to next weekend’s German Grand Prix at Hockenheim.
The likes of Enrico Cardile (chassis), David Sanchez (aerodynamics) and Corrado Iotti (engine) have been linked with becoming part of the new technical team that will report directly to Binotto. A further indication of a Ferrari reshuffle came recently with confirmation that former chief designer, Simone Resta, will be rejoining the team later this year from Alfa Romeo. Ferrari have so far refused to say what his official job title is, but it will not be technical director or chief designer. The reshuffle is predominantly with the 2020 season in mind as development continues to ramp up on the new car.
What I hope from 2021 F1 rules
There have been hearing whispers that F1 will reintroduce Ground Effect for the cars for the 2021 season, there are now a rumor doing the rounds that they will also get rid off high-degradation tyres, if these rumors are true it will be a god sent. These tyres have really fucked up F1 and meant that cars and drivers cannot race for long periods without their tyres giving up. Most teams can manage with a 1 stop race nowadays and with the rules saying you have to change tyres at least once nothing will really change in the pit-stop department,
The idea behind degrading tyres was that they would produce a big enough variation in lap time during their life that they help open overtaking opportunities between drivers. However, one of the consequences has been that the tyres are prone to overheating when a car is trying to attack a rival, and this hurts the racing. Lets hope that the FIA and Liberty Media get ride of them once and for all.
Now all they need to do is reintroduce active suspension and we can really go racing again, I'd also like them to go back to naturally aspirated V10's but I can't see them ever going down that road again
is that Hamilton has with Mercedes (as well as the car) is a lot of freedom with endorsement and his extra curricular projects.
