Bernie Saves Jordan and Minardi with £20million (Merged)

[Armco Bender]

Well Bernies stepped in and bunged Jordan and Minardi £20million between them to keep them going this year,Also talk of waiving the deposit for new teams.And this is in The Times http://www.timesonline.co.uk/article...545640,00.htmlyou can't get more reputable than that.Eddie Jordan says its a big releif as this year looked really dodgy.Who says Max and Bernie dont read this forum

[Super Tourer]

Yep, shows what a wake up call Bernie and Max have been given this year!

BTW, its my 1,000th post.....

ST

[Stephen Green]

This has to be the best news F1 has had for some years. Well done Max and Bernie. I never thought I would say that

[f1manoz]

Well that's nice of Bernie to give EJ and Stoddy some money.

Gee, that's the first nice thing I've said about Bernie in.... *counts*

[Spudgun]

I'm glad Bernie has come good. It's not very often I can say something good about him, but I don't exactly bash him all the time either although I have had my moments.

I know he can be a bit of cad and a scoundrel in the business world, but I know he would never let the sport disintegrate, even if it is for his own gain. There must a smidge of compassion (even if he would never admit it) because he has owned a team himself.

It's interesting that he helped Jordan and Minardi, who are struggling from just a bit of bad luck, but not Prost or Arrows who folded because of management..

[Stephen Green]

I think it's more because they (F1) couldn't afford to see grid sizes drop any further. If they did, then the TV money would quickly start to dry up as audiences switched off.

[DNQ]

That really is incredible news. In just 48hrs my opinion of Bernie and Max has totally changed...shame it took such a monumental wake up call in the form of the worst Formula One season ever, but it's nice to see the light at the end of the tunnel.

2003 will be BIG!

[Valve Bounce]

Originally posted by Super Tourer


BTW, its my 1,000th post.....

ST

You qualify for the lucky draw for the Ferrari

[R]

Stephen is on the money. F1 can not afford to lose more teams, that's why this has happened.

Still, excellent news - a splendid thing to do!

[RWC]

HAS ANYONE CHECKED TO SEE IF IT REALLY HAS BEEN 'GIVEN' TO THESE TEAMS?????
Or is it the usuall bernie loan WHICH THEY HAVE TO PAY BACK

He's done it alot in past years-ALLWAYS FOR THE SAME REASON-
PRIMARILLY TO SAVE BERNIE ONLY!!!!!

[Valve Bounce]

Actually, with Prost and Arrows gone, there must have been more money to spread around also. But I agree with Stephen - another team gone could mean loss of viewers, not to mention that Minardi were not exactly floating in cash either. F1 could not afford to lose these two teams, as Wrex pointed out in another thread.

[Maxmil]

Originally posted by Valve Bounce
Actually, with Prost and Arrows gone, there must have been more money to spread around also.

Reading the article, that sounds like the case. It also suggests, however, that some of the additional TV revenues for MInardi and Jordan may have come from the top teams' share. A little redistribution of the wealth so to speak.

It's good that Max and Bernie are addressing F1's problems at last, but lets hope it hasn't been left until too late.

[Stephen Green]

I agree Maxmil, at last the bigger teams have realised that without the smaller guys there is no Formula 1, so they have acted in the greater good of their business and sport.

[steve nielsen]

Bernie did'nt like Tom Dobie Walkinshaw too

[Tristan]

I'm on the "doubter's" side.

Is it a grant or a loan?? What's going to happen next year?? If the sponsors see that the team is having to be bailed out every season, they're going to pull out in a flash. What about Prost and Arrows?? I bet those teams and their ex-employees feel more than a little miffed. And what about teams like Sauber?? Hardly well off themselves and competitors are getting much saught after investment FOR FREE!!

I've argued about this for ages - why is there still a system of "prize money", the TV money being allocated according to success?? It's insane!! Like Ferrari were interested in "prize money" last year....

[Stephen Green]

I must admit it would seem sensible to split the prize money equally between each team, regardless of their standing in the WC. But then Tristan very little in life is fair these days

[chrisgr31]

The justification between Bernie and the other teams bailing out Jirdan and Minardi must be interesting, as it must lead to questions as to how much (if anything) the team principals get paid.

However the bigger teams do need the smaller teams because by buying engines they are effectively subsidising the engine manufacturers, and of course they also act partly as means to develop drivers.

I can see the justification for some prize money but perhaps there should be some form of appearance money, so teams get paid to turn up. Although this would have to be controlled to ensure that teams turn up and make a decent attempt to qualify/race.

[Mr V]

Originally posted by Tristan
Is it a grant or a loan??

Does it matter? At the end of the day, had he not lent/given them the money they would have gone to the wall. Now, they have possibilities to improve the chance of securing more sponsership, if they can do this, the i expect that they will happily "pay Bernie back" if through his actions they begin to thrive, if they don't and they go to the wall then Bernie doesn't get his money anyway.

[Glen]

In my opinion there is a lot of bull talked on here about Bernie somehow "ruining our sport"... The truth is that he has made F1 what it is - the (far and away) premier formula. Of course that has come with lots of baggage, all of it to do with what happens when big money becomes very, very big - but this is an example of what can happen, and its not the first time.

[Mr V]

Originally posted by Glen
In my opinion there is a lot of bull talked on here about Bernie somehow "ruining our sport"... The truth is that he has made F1 what it is - the (far and away) premier formula.

Agree with you there Glen, Bernie has made F1 what it is today, the thing i don't like about the man is his willingness to "teach a lesson". This was what the "debacle" of Silverstone 2000 was. He wanted to teach them a lesson and it was the "Fans" who suffered, having to face miserable conditions, the bad weather and "quagmires" that were the car parks and campsites, when we'd spent all that money for tickets then blamed Silverstone for it. And also his (and Max's) willingness to "put Silverstone down" when there are far worse circuits and amenitities on the calander.

[Tristan]

"Does it matter?"

Yes, because as I say, if a company's propping itself up on debt that it has to pay back, people aren't going to be willing to invest in it regardless if the business is an F1 team or a.... nother business!!

[steve nielsen]

as far as I understand it it is'nt a loan but they redevided the TV money(I think the bigger teams have agreed to take less so the small teams can survive)

[Logrence]

I wouldn't be at all surprised if some of the bigger teams had chipped in a little too - in getting this money, the respective futures of Jordan and Minardi are secured for this season. If either were to fold this season, the other teams would be obliged to field more than 2 cars to bring the number of cars racing to a respectable level - they've saved themselves a hell of a lot of money in doing this.

[Tristan]

IF that's the case then I'm all in favour. Actually, I don't care so long as Minardi do alright!!

[Glen]

Originally posted by mr v
Agree with you there Glen, Bernie has made F1 what it is today, the thing i don't like about the man is his willingness to "teach a lesson". This was what the "debacle" of Silverstone 2000 was. He wanted to teach them a lesson and it was the "Fans" who suffered, having to face miserable conditions, the bad weather and "quagmires" that were the car parks and campsites, when we'd spent all that money for tickets then blamed Silverstone for it. And also his (and Max's) willingness to "put Silverstone down" when there are far worse circuits and amenitities on the calander.

Oh well yes - clearly he's far from perfect. My point was simply that the job he has done and is doing is well beyond the appreciation of the typical armchair punter (myself included) and it just ****es me off to hear so much rubbish talked about ruining the sport and greed and all that. Nearly all of the decisions that people moan about are taken by the teams under the concorde agreement - but there is never a shortage of "experts" on-hand who think that the whole endeavor is purely for their enjoyment, on their own terms!