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F1 2021

It's a cash utilisation thing. Lots of businesses have capital tied up in premises, often quite a lot of money. Often it's the biggest lump on the balance sheet. It's a big asset that could be better invested in things that generate income. If the extra income that injection could generate is bigger than the maintenance and lease costs, it makes sense. If.

Businesses reason that they aren't in the game of owning and profiting from property. They're making widgets and should invent better ones. So they sell to a business that is in the property game. The lease and maintenance costs should be affordable from the the continuing cashflow. Obviously, the continuing costs rise a fair bit to cover the lease and repairs. But so far, so sane.

The problem is that the net-net-net contracts make the (now) tenant liable for maintaining and repairing an increasingly decrepit and unsuitable building. The (new) owner will have lease increases built in every three or five years. The optimistic extra income might not appear, especially if big lumps of the liberated capital ends up in directors' bonuses or shareholder dividends instead of funding expansion and developments. Not so sane.

Sale and lease back is not necessarily a bad idea, but it does need strong financial management.

NB This is not financial advice. You mileage may vary. Errors and omissions excepted. External use only. Wipe up spills. If ingested seek medical help. Etc.
Capitalism is fucking mental.
 
The last company that I worked for that sold its building and then rented it back had to sell themselves after about 5 years due to the costs of rent, maintenance etc of what had been their building. The bosses admitted the short term decision to get liquid capital into the business was a long term mistake.

Birmingham City FC have just done this with their home ground the maths just doesn't add up. If they get relegated again and can't afford the rent, then what happens? They become homeless! Baffles me. But of course it won't be the owners problem at the end of the day.
 
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Birmingham City FC have just done this with their home ground the maths just doesn't add up. If they get relegated again and can't afford the rent, then what happens? They become homeless! Baffles me. But of course it won't be the owners problem at the end of the day.
The saga of Coventry City's ground - the Ricoh Arena - is a good example of why owning a sports stadium is a prickly investment for outsiders.

 
'Tis another GP weekend. Portugal ahoy!

Subject to the continuing vitality of the Royal Family, and heaven help us if one the bloody corgis falls under some bejeweled phaeton or Princess Anne's personal Challenger tank, the UK times might be as follows:

Fri 30 Apr
FP1 - 11:30
FP2 - 15:00

Sat 1 May
FP3 - 12:00
Qual - 15:00

Sun 2 May
Race - 15:00

Pip, pip!

:)
 
Did the war between Red Bull and Mercedes start after Hodgkinson's switch?
Red Bull have struck an important blow with the arrival of Ben Hodgkinson. The man who played an important role in the development of the engine at Mercedes, will make the switch to Red Bull in 2022, and that does cause some tension. The 2021 Formula One season has only just begun, but with Hodgkinson's move, Red Bull Racing have dealt the first blow. In a year like this, it's all about sticking together as a team, and there will be internal problems at Mercedes since news of Hodgkinson's departure came out. Not only is Hodgkinson leaving the team, but it also emerged earlier that he had spoken to some colleagues to join him at Red Bull. Of course, this causes a lot of commotion at Mercedes, because they don't know which of their employees would like to join them.

For Red Bull this is an important move on two fronts. On the one hand it brings in knowledge about Mercedes' engine and someone who is capable of leading a project towards an own engine for 2025. On the other hand, this move also ensures that the major competitor is disrupted. Where Mercedes has been very quiet in recent years and every departure was dealt with internally, this is a huge blow. After seven world titles, a key member of staff suddenly opts for the big rival, and apparently staff members within the organisation have also been told to leave. It's time for Toto Wolff to start putting out those fires.

In the meantime, according to Motorsport.it, Mercedes is doing everything possible to postpone Hodgkinson's departure as long as possible. Because this would involve a key pawn in the organization, Mercedes is demanding the longest departure before the new position at Red Bull can be started. Mercedes would thus try to have Hodgkinson make the switch to Red Bull only at the end of 2022.
 
Sprint Qualifying Format, How will it work
The FIA, F1 and all 10 teams have agreed to the changes to be implemented at two European circuits and one non-European track, with all three venues to be announced in due course.

Drivers will race over 100 kilometres in sprint qualifying on Saturday afternoon to determine the grid for Sunday's race.

Sprint qualifying winners will earn three points, with two awarded for second place and one for third.

The grid for the sprints will be decided on Friday afternoon using the current qualifying format, with cars entering Parc Ferme conditions from the start of Friday qualifying.

There will be one-hour practice sessions on both Friday and Saturday mornings.


F1 president and CEO Stefano Domenicali said: "We are excited by this new opportunity that will bring our fans an even more engaging race weekend in 2021. Seeing the drivers battling it out over three days will be an amazing experience and I am sure the drivers will relish the fight. I am delighted that all the teams supported this plan, and it is a testament to our united efforts to continue to engage our fans in new ways while ensuring we remain committed to the heritage and meritocracy of our sport."
 
I'm ambivalent about F1 trying a sprint qualifying race but I absolutely hate that parc fermé is enforced for the whole weekend.

One of F1's great moments was when the Williams team chose to ditch the FW12's active suspension and build an entire new suspension overnight at the British GP in 1988. The stuff of legend, entirely in-keeping with what Formula 1 should be but banned by parc fermé.
 
Banned in protest by the other competitors more like, and it's not exactly in the spirit of sport, especially when money is being thrown around. It's liek the olden days of of football before transfer windows. Team doing a bit shit with 8 games to go, ah just buy a new striker, bang in some goals, someone else get relegated instead.
 
I honestly don’t know what to think about sprint qualifying. I guess the right thing to do is try it and see how it goes. How will it look if the sprint race turns out to be an excellent, exciting race then the main Grand Prix is processional bore fest?

Or maybe that’s the hidden agenda, perhaps F1 group want to move towards having two shorter races each weekend instead of one long Grand Prix, and step 1 in the plan is to demonstrate how much more exciting a sprint race can be?!

Now I’m getting all conspiraloonical and forgetting Bernie isn’t in charge any more 😂🤣
 
Silverstone confirmed as first sprint qualifying venue at 2021 British GP
Silverstone has confirmed it will be the first venue to host F1’s new sprint qualifying format when the British Grand Prix takes place later this year. The new addition was announced earlier in the week and will involve a 100km sprint race on Saturday to set the grid for Sunday’s grand prix. Around the modern Silverstone layout, the 100km race is set to be around 17 laps. Only the top three from Saturday’s sprint event will score points, with three points handed out to the winner, two to the runner-up and one to the final driver in the top three.

Silverstone was expected to the the first of the three races to stage a sprint qualifying event, with Monza and Interlagos expected to be confirmed at a later date. “We are incredibly excited that Silverstone fans will be the first to experience the Formula 1 sprint qualifying format at this year’s British Grand Prix,” managing director of Silverstone Stuart Pringle said. “We have not seen such a major timetable shake up in the sport for years and I appreciate the continued efforts being made by Formula 1 and the FIA to enhance the entertainment on track giving our spectators even more to look forward to this July. The Friday and Saturday crowds at Silverstone are arguably the largest on the F1 calendar and, following the live events drought of 2020, this year will be no exception. Given we have very nearly sold out of tickets for Sunday, Saturday now represents a great opportunity for fans to see a Formula 1 race at Silverstone this summer.”

Parc Fermé restrictions will be in place on Friday ahead of qualifying preventing teams from setting up sprint qualifying-specific cars. “We are excited by this new opportunity that will bring our fans an even more engaging race weekend in 2021,” said Stefano Domenicali, President and CEO of F1. “Seeing the drivers battling it out over three days will be an amazing experience and I am sure the drivers will relish the fight.”

Paddy Lowe on why his 2017 return to Williams didn't work out – and why the team slipped back
Paddy Lowe spent more than three decades as a Formula 1 engineer and executive for Williams, McLaren and Mercedes – but it was a return to Williams as Chief Technical Officer in 2017 that proved to be the most testing stint of his career. In the latest episode of F1 podcast Beyond The Grid, Lowe explained why he “really didn’t enjoy” those two years at Williams…

As Joint Head of Electronics in 1987, Lowe worked with Patrick Head and Adrian Newey to develop the active-suspension-laden FW14B in which Nigel Mansell won the ’92 World Championship. In 1993, Lowe moved to McLaren and became Engineering Director for the team in 2001, overseeing Lewis Hamilton’s maiden title. Then Lowe moved to Mercedes in 2013 as the Silver Arrows began to form a grip on the new turbo-hybrid era of F1. And in 2017, he decided to return to Williams, becoming their technical chief, only to depart in June 2019. Over that period, the once-giant team slumped to last in the championship, infamously missing days of pre-season testing in 2019. So why didn’t it work out? “It’s a period I don’t really like to dwell on,” began Lowe on Beyond The Grid, “because in all that time in Formula 1, I loved every single year and all for different reasons and for some reason it just got better and better; those two years at Williams I really didn’t enjoy to be honest. It was really hard work for no reward whatsoever. I think probably, the less said the better, to be honest, Tom [Clarkson, BTG host].”

Lowe went on to explain that he couldn’t work “miracles” at Williams and that their problems were structural – adding that the use of Mercedes’ class-leading engine masked their deficiencies early in the hybrid era. “I’m good at a lot of things, and I think I’ve proven that in a number of areas, but I can’t work miracles, and certainly not miracles in respect of time,” he said. “I’ll give you a good example: the foundation of a winning team is literally a winning team, it’s the people. Now, the best people in Formula 1 don’t generally want to work for a team that doesn’t look in great shape. Even then, when they arrive, it’ll take them a year to three years to create any sort of impact on the infrastructure. The car you produce, and its performance is a function of your organisation – people, equipment, technology, software, all of your knowledge – deployed into this project. Williams had the benefit of the best engine by a long chalk from 2015, so that gave some, let’s say false impression, of underlying performance. They were living off a number of other legacy advantages that gradually unwound. When the organisation starts to lose its way because it hasn’t had the right investments or made the right decisions, it doesn’t instantly make bad cars.”

A seismic shift took place in August 2020 as Williams were sold to US investment firm Dorilton Capital and the founding family would soon depart their team. Lowe concluded by saying he welcomed the new ownership and hoped they would reverse the “very negative spiral” at the team. “I was pleased, because that’s what they’ve needed to do for a long time and to be honest, should have done it earlier for all sorts of reasons which are not to do with any individuals,” he said. “The team has been in a very negative spiral from a funding point of view. While I was there, I was watching that spiral progress further down the drain and it’s actually quite distressing because you understand there’s no good endpoint apart from a sale, so you may as well cut that now and move on before it’s all gone. I’m very happy that the team was sold for a reasonable price so that Claire and her brothers leave with something to work with from the great things her family has achieved over the years, the name is kept and they’ve got new investors who will have the cash to take it forward and turn that spiral in the other direction, which will be a long process. And people who are patient will take it there.”
 
Turkey to replace Canada on 2021 F1 race calendar
Formula 1 has confirmed a change to round 7 of the 2021 calendar, with the Turkish Grand Prix replacing the Canadian Grand Prix for the weekend of June 11 to 13. Due to the ongoing international travel restrictions in place in Canada it became impossible for Formula 1 to enter the country without a mandatory 14-day quarantine, leading to the change. “We are grateful for the efforts of the promoter and the authorities in Canada, Quebec and Montreal in the past few weeks to try and make the race happen and we are pleased to announce a two-year extension to our partnership with the Canadian Grand Prix,” read a statement by Formula 1. “We will work with the promoter to ensure those with tickets from 2020 & 2021 races get the options of a refund or to transfer their tickets to next year’s race and look forward to racing in Canada in 2022.”

Turkey returns to the calendar after a thrilling first event in Istanbul in nine years last November, in which Lewis Hamilton was crowned world champion for a record-equalling seventh time. “While it is disappointing we cannot be in Canada this season we are excited to confirm that Turkey will host a Grand Prix in 2021 after an amazing race last season,” said Stefano Domenicali, President and CEO of Formula 1. “I know all our fans are excited by the dramatic start to the season and Turkey is a great circuit that delivers great battles on the track. I want to thank the promoter and authorities in Canada for all of their efforts in recent weeks but the travel situation made our plans impossible. I equally want to thank the promoter and authorities in Turkey for their ongoing willingness to host a Formula 1 race that shows the huge interest in our sport and the hope from many locations to have a Grand Prix. We have had very good conversations will all the other promoters since the start of the year and continue to work closely with them during this period.”

The Formula 1 community will continue to travel this season with stringent safety measures that allowed safe travel to 12 countries in 2020. The measures have proven to be highly effective with over 78,000 COVID-19 tests conducted last season with only 78 positive results, a rate of 0.1%. So far this season over 12,000 tests have been conducted with 14 positive cases again a rate of 0.1%.
 
the sprint races will last as long as it take the first serious crash involving the big teams happens

that or when Honda engines start blowing up

with the budget cap when a merc , bull or the red cars are smashed to bit before the race


someone will be on the phone complaining
 
Turkey to replace Canada on 2021 F1 race calendar
Fingers crossed. The BBC website is reporting that Turkey is just about to start its first full lockdown. The restrictions start today and are planned to last until 17 May. It seems new cases are increasing even though a quarter of the population's been vaccinated. Hopefully, the new measures don't need to be extended, but a couple of weeks doesn't seem long enough to have a big impact.

But what do I know? Me, I'm just delighted I've had my two jabs.
 
F1 remembers Ratzenberger
Despite now turning 27 years old, the 1994 San Marino Grand Prix weekend will never be forgotten. It was perhaps one of Formula 1's darkest moments when two drivers lost their lives within two days of each other in Imola. Roland Ratzenberger died on this day in 1994 during qualifying. A death always remembered but overshadowed by three-time World Champion Ayrton Senna who died during the Grand Prix the following day. Ratzenberger, aged 33, went off at the chicane of Acqua Minerale and damaged his front wing. The race weekend in Imola was Ratzenberger's third involvement in a Grand Prix weekend, all coming during the 1994 season. He failed to qualify for the season opener in Brazil. One week later in the Pacific Grand Prix, he started 26th on the grid. He finished 11th but was the last car to cross the chequered flag after 15 retirements. But Ratzenberger had plenty of success in the build-up to his F1 career. He won the second class of the Le Mans 24 Hours in 1993 and also won a race in the Formula 3000 Championship. In that championship, he finished seventh in 1992.

Bernie Ecclestone managed to persuade the Simtek team to race the following day. His grid spot remained empty at the start line in memory. The fastest non-qualifier, Paul Belmondo, was offered a place on the grid but he refused out of respect for the driver who lost his life the day before. Sid Watkins, known as the man who introduced many additional safety aspects to the sport, tried to tell Senna not to race in the San Marino Grand Prix. The Brazilian didn't want to stop racing, so continued. Senna sadly crashed and died. An Austrian flag was found in the wreckage of Senna's car. He had planned to wave the flag in memory of Ratzenberger at the conclusion of the race. But the Austrian Simtek driver continuing pushing for the final spot on the grid. During the straight before the Villeneuve Corner, Ratzenberger's front wing snapped off and went underneath his car preventing him from turning. He hit the wall at approximately 195.7 mph and died from the injuries he sustained.
 
Portuguese GP: Bottas pips Verstappen in Practice 1
Just 0.025s divided Valtteri Bottas and Max Verstappen in Practice 1 at the Portuguese Grand Prix. Much like last year's first race at Portimao, the session was dominated by drivers struggling to get the soft tyre in the right operating window as Bottas needed several laps before delivering the expected step in performance. Verstappen meanwhile had strong vibrations on his set of the red-striped tyres as he went second, jokingly claiming he would require a trip to the dentist to fix the broken teeth such was the shaking. Encouragingly for Red Bull, Sergio Perez moved up to third with his final lap of the session, just under two-tenths off the pace set by Bottas.

Also making late gains was Charles Leclerc for Ferrari in fourth. His time dropped Lewis Hamilton to fifth as the seven-time world champion struggled with the balance of his Mercedes and with the soft tyre, with his best laps coming toward the end of a 13-lap stint. Pierre Gasly was sixth for AlphaTauri with George Russell an impressive seventh for Williams, highlighting how important it was to turn on the tyres for a single lap. Lando Norris recovered from a slow start to take eighth for McLaren ahead of the second Ferrari of Carlos Sainz. Esteban Ocon completed the top 10 for Alpine. With the 2021 grid remaining as close as ever, Lance Stroll made it eight different teams in the top 11 for Aston Martin. Meanwhile, Fernando Alonso was four-tenths down on teammate Ocon in 14th as the two-time world champion turned his first laps on the Portimao 'rollercoaster'.

Sebastian Vettel was 16th after providing a brief moment of comedy when he pulled up outside the McLaren garage upon returning to the pits. Ferrari Academy member, and newly announced Alfa Romeo reserve, Callum Illot finally entered his first F1 practice session, and impressed finishing just four-tenths behind Kimi Raikkonen in 17th. Mick Schumacher pipped Nicholas Latifi into 18th, as Nikita Mazepin once again brought up the field in the second Haas.
 
Portimao FP2: Hamilton and Verstappen restore order
This season’s chief protagonists for the Formula 1 World Championship, Lewis Hamilton and Max Verstappen topped the timing screens at the end of the first day of free practice for the 2021 Portuguese Grand Prix.
Hamilton was the quickest for Mercedes with a best lap of 1:19.837, a tenth and a half up on Red Bull’s Max Verstappen followed by Valtteri Bottas, who topped the morning stanza, in the other Black Arrow. Sergio Perez in the other Red Bull was only good for tenth, six tenths down on the top time. For now it’s Max versus Mercedes, but one would expect Perez to dial himself into the fray as he did at Imola to set the stage for what should be another cracking qualifying tomorrow and the race on Sunday.

On Friday’s evidence, Mercedes appear to have closed the gap of the past two races to Red Bull and may even have the edge in the Algarve hillside on outright pace but then we will only really know when they pump it up for Qualifying tomorrow. It’s worth remembering that Hamilton and Rosberg dominated at the venue last year. On the day, three tenths and a bit down on the top time, Carlos Sainz was fastest of the Ferrari pair in fourth place with Charles Leclerc in seventh, a couple of tenths between the pair. In a Ferrari sandwich on the timesheets, both Alpines had a positive day, with Fernando Alonso getting stronger with every outing to end fifth fastest, fractionally faster than teammate Esteban Ocon in sixth suggesting a big step for the former Renault team.

Tomorrow’s qualifying will confirm or not if indeed they have extracted pace from their package for this weekend. McLaren appeared to be AWOL or keeping their powder dry with Daniel Ricciardo eighth and Lando Norris 12th, not quite at the level they have been in the first two races of the season. Lance Stroll was ninth in the Aston Martin, six tenths down on the benchmark time and, notably, six tenths faster than new teammate Sebastian Vettel who was only good for 12th. The gap between Stroll and Vettel is akin to the difference in pace between Leclerc and the German when they were teammates at Ferrari until last year.

Surprisingly out of the top ten were both the AlphaTauri’s with Pierre Gasly 11th and rookie Yuki Tsunoda 14th, while George Russell looks intent on getting that Williams beyond Q1. He was 13th fastest, while teammate Nicolas Latifi was down in 19th. In closing, Ferrari power is hardly the piece of kit to have bolted to your car, four of their customer cars were in the bottom five with Nikita Mazepin slowest of all, over a full second down on teammate Mick Schumacher in 18th and 2.8 seconds down on Hamilton’s best effort.
2022-Portuguese-Grand-Prix-FP2-result-F1-practice.jpg
 
Quite like the Horner vs Wolff rivalry and respect.
For those who missed it
Horner takes a swipe at Wolff
It was big news last week: Red Bull Racing have recruited a key engine engineer from Mercedes, who will help the team with the engine project they are taking over from Honda. Toto Wolff couldn't resist making a comment about it between practice sessions, but he could expect an immediate response from Christian Horner. Wolff stated that the fact that Red Bull is building their own engine factory could well indicate that big engine brands like Porsche or Volkswagen are going to make a return to the sport. Horner was then asked whether Red Bull will build their own engines in the long term, or whether they will need help from major manufacturers.

"Toto always thinks he knows what's going on with others. Maybe he should mind his own business," Horner sneered. "We're building a fantastic facility, and have attracted some great talent. It's all happening on campus, and the project is fully integrated with chassis development." He continued: "Outside of Ferrari, we are the only team that has that. The name of the engine is another matter. At the moment there are no talks going on about that and the focus is on the Red Bull engine. But in the future it could be anything," Horner said.
 
In Memory | Ayrton Senna's death on this day 27 years ago
Formula 1 is filled with historical events which many fans, drivers and team members look back on with a smile. But today [May 1st] marks one of Formula 1's darkest days. 27 years ago, Ayrton Senna crashed during the 1994 San Marino Grand Prix in Imola and died from the multiple injuries he sustained. Formula One fans alive at the time will remember where they were when they heard the terrible news. The death of the three-time World Champion and arguably the greatest driver of all time shocked the world of F1 and motorsport. This came one day after the passing of Roland Ratzenberger in qualifying. Senna ran wide at Tamburello on the flat-out corner on the circuit in Imola, Italy.

In Formula 1, an impossible question always gets asked. Who is the best driver ever? It's impossible to compare between eras but names that always crop up include Michael Schumacher, Lewis Hamilton and Senna. Senna began his career with Toleman in 1984 and showed us his extreme talent by taking second in the Monaco Grand Prix, a race he would go on to win six times. Success with Renault followed, before his big move to McLaren, where he won each of his three World Championships and formed a bitter rivalry with team-mate Alain Prost. Senna won the title in 1988, 1990 and 1991. Across his 161 Grands Prix, Senna won 41 races and secured 80 podiums. His 65 career pole positions is still strong enough to keep him inside the top three on the all-time pole position tally. Senna was on pole for 40% of his races. For comparison, Hamilton has started on pole in 37% of his races.

On May 3rd 1994, the FIA called a meeting to discuss the two deaths across the San Marino Grand Prix weekend, as well as Rubens Barrichello's serious crash. In time for the next race in Monaco, changes were made to how things worked. Niki Lauda announced the reformation of the Grand Prix Drivers' Association. Lauda, Schumacher, Gerhard Berger and Martin Brundle joined the panel which demanded further safety improvements to F1 at the end of the season.

Horner responds to McLaren open letter regarding Mercedes pressure: 'A shame'
Disagreements between McLaren and Mercedes culminated on Friday in an open letter from Zak Brown and a back and forth of allegations between Toto Wolff and Christian Horner, Red Bull team principal. Brown claims his team is under pressure from Mercedes when it comes to votes on the future of the sport, something Wolff denies. An open letter from McLaren chief Zak Brown this week caused a stir. In the letter Brown calls for an anonymous ballot at the FIA commission, this because of external pressure he experienced in an attempt to influence his vote.

Asked for his views on the state of affairs during the press briefing for team bosses, Red Bull's Christian Horner said he regretted the situation : "It would be a shame to need to go behind a secret ballot but a team has a right to request that. But if that's what it needs to take independent votes, then we don’t have a major issue with it." Furthermore, Horner points to Mercedes as the likely culprit for the external pressure on McLaren. The team boss states, "I can only assume it’s because of pressure applied from the supplier. If that is the case, it is a shame."

Toto Wolff, defending his position after Horner, in turn points towards Red Bull and Ferrari. "we have seen in the past that Toro Rosso has voted like Red Bull, probably without any exceptions, and Haas has gone the Ferrari way. In our case, we have never tried to influence a team", Wolff said.
 
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