Bernie IS buying CART

[Spicoli]

http://www.autosport.com/newsitem.asp?id=22052&s=7

Dang.....

[Warlock!]

So would it be a good idea or a bad idea for some bald guy to buy a few hunnert shares of stock right now (hovering around $3.15/share)? Just curious... I'm a boob about investments...

Winter Warlock!

[Napoleon]

I would consider that to be about the worst thing that could happen to C^RT.

But because Otto-Weak has been so wrong in the past I am not concerned about their article.

[Spicoli]

Originally posted by Warlock!
So would it be a good idea or a bad idea for some bald guy to buy a few hunnert shares of stock right now (hovering around $3.15/share)? Just curious... I'm a boob about investments...

Winter Warlock!

I'm holding some right now at about 3 bucks. I feel good about that, but I never offer investment advice. I do know that the cash value is above that number. However, there will be significant losses in cash after Q1 (ESP & Co-Promotion costs), thus the reason that Forsythe sez it needs to happen in a month or less.

JUST - MHO. You've met me Warlock - I'm no Warren Buffet ;)

[Spicoli]

Originally posted by Napoleon
I would consider that to be about the worst thing that could happen to C^RT.

But because Otto-Weak has been so wrong in the past I am not concerned about their article.

And the other option is????

[Turn7]

This scenario is a two headed monster.

It would be a good thing for CART the company and primarily its investors. A large investor that is willing to take it back to private status and not have to show the world its the hand it is currently being dealt. In turn the current investors will more than likely have a premium paid to them for the shares they own.

On the other side of it are the US based fans. Now CART becomes the pawn in the F1 battle with the engine mfg. If F1 having a back up series is enough to encourage them to come to terms with Bernie then the series will be dumped and disbanned so quickly it will make your head spin. If it doesn't then, the US will have 2 maybe 3 events a year. The rest will be spread throughout Europe and Asia. Canada will have one maybe two events and Mexico City will have to battle Brazil for the Latin American date. All the while a series war will be waged between F1 and the Auto mfg. that will make the CART vs. IRL saga look like two year olds pitching sand at each other in the play yard.

Either way, the fans will be losers.

[lateralus42]

I doubt Bernie would pull CART out of the North American market. Bernie did build up the biggest and baddest racing series on the planet, if he could help CART achieve even 1/4 of that success, CART will be just fine.

[Foxman]

What if Bernie were to purchase CART as an insurance policy for when the Concorde agreement expires in 2007? It's already been well noted that the mfg's will create a rival series to F1 if necessary - CART could provide the perfect vehicle for Bernie to create that series and retain control over what would become of F1.

[Spicoli]

Originally posted by Turn7
This scenario is a two headed monster.

It would be a good thing for CART the company and primarily its investors. A large investor that is willing to take it back to private status and not have to show the world its the hand it is currently being dealt. In turn the current investors will more than likely have a premium paid to them for the shares they own.

On the other side of it are the US based fans. Now CART becomes the pawn in the F1 battle with the engine mfg. If F1 having a back up series is enough to encourage them to come to terms with Bernie then the series will be dumped and disbanned so quickly it will make your head spin. If it doesn't then, the US will have 2 maybe 3 events a year. The rest will be spread throughout Europe and Asia. Canada will have one maybe two events and Mexico City will have to battle Brazil for the Latin American date. All the while a series war will be waged between F1 and the Auto mfg. that will make the CART vs. IRL saga look like two year olds pitching sand at each other in the play yard.

Either way, the fans will be losers.

I respectfully disagree. I think that - in the current situation - its the best thing that could happen to the fans.

And its TG's WORST nightmare.:cry:

[JoeBob]

Bernie needs to have a bigger presence in North America. A strong CART is a key to that. CART has quite a few things that F1 does not, and is a strong compliment to that series. Using CART to help promote F1 is not a bad thing, IMHO. Using CART as a pawn in a game with the F1 manufacturers is.

Here's a word of advice for those who want to see the USGP at Indy. See it now, while you still can. ;)

[Turn7]

F1 needs a bigger presence in N/A is right.... 18 race presence? Not in your wildest dreams. N/A will make up maybe 5 - 7 events on the schedule. They will be mega events but, the numerous opportunities to see primier OW racing in the US will be drastically reduced.

Do you really think that will make TG have nightmares? I don't, I think he will see it as an opportunity to attract people that will be left in Bernies dust.

[pchall]

That 'king Autosport site never lets me through to the stories.

Would somebody cut and paste this thing?

BTW, Autosport rumors are just that.

[Napoleon]

I agree with Turn7's take on this.

[JoeBob]

http://www.autosport.com/newsitem.asp?id=22052&s=7


Forsythe admits Ecclestone share interest

F1 impresario considering CART options

Champ Car's most powerful team boss, multi-billionaire businessman Jerry Forsythe, has admitted that Formula 1 supremo Bernie Ecclestone could be on the verge of buying a majority stake in the US-based single-seater series, according to this week's AUTOSPORT magazine.
Ecclestone has been linked to making a bid for sanctioning body CART since the end of 2002, and Forsythe – himself a major shareholder in the company – has revealed the story contains substance.

"He [Ecclestone] has been looking at it for quite a few months," Forsythe told AUTOSPORT. "He's a very intelligent man and understands what the value of the company is and what the good points are for him in having a large share in the company."

Forsythe confirmed that he has sent his own personal appraisal of the series and its governing body to Ecclestone, and said: "If it happened it would be great for Champ Car. I don't see any downside."

Forsythe added that if a deal was to be struck then it would have to occur within in the next month.

[mnkywrch]

I agree with Turn7.

Do you guys like the idea of Bernie buying CART if the only races left in North America will be the 5 to 7 most attended events - given that at least four of those races might not even be in the U.S.?

If Bernie buys CART, I figure it's 40/60 he either helps them in N/A or destroys what they are now (North American based series) to become the new F1.

[MightySurfClam]

CART and F1 have an equal footing in the US market. Why does one buying the other help either in the US?

[Spicoli]

Originally posted by MightySurfClam
CART and F1 have an equal footing in the US market. Why does one buying the other help either in the US?

WTF are you smoking? Care to back that up with some facts?

[nrc]

Let's try reading for comprehension, kids. This story doesn't say that Bernie is buying CART. It says that Forsythe is trying to talk him into buying a share of CART. This was already discussed and I stand by my previous assessment: Bernie may or may not have an interest in buying into CART, but this is really just Forsythe trolling for buyout partners and using Bernie's name as bait.

[lateralus42]

Originally posted by nrc
Let's try reading for comprehension, kids. This story doesn't say that Bernie is buying CART. It says that Forsythe is trying to talk him into buying a share of CART. This was already discussed and I stand by my previous assessment: Bernie may or may not have an interest in buying into CART, but this is really just Forsythe trolling for buyout partners and using Bernie's name as bait.


Bernie letting someone use his name for their own personal profitt?? Yeah right.

[MightySurfClam]

Originally posted by Spicoli
WTF are you smoking? Care to back that up with some facts?

Try TV figures in the USA for CART vs IRL vs F1 on equal networks. Ie network vs network and SV vs ESPN

[racer2c]

Oh no, not another ratings debate!

My name is Sparta-cus!

[Mike Kellner]

I cannot see how it could hurt CART to have the best racing promotor in the world buy into it. Bernie has a racing series in Europe and Asia. It's called F1. F1 is impossible to sell in the US, and doesn't have enough dates for all the places in Central and South America that want a big time open wheel race. CART runs all over the world now, and with Bernie on our team, we will get better venues, more sponsors and better promotion.

Exactly what is there to complain about. The only US dates that are in trouble are the ones with poor attendance, which means they are in trouble already. I watch the sport on TV, so any place with a track and a sattellie feed is all the same to me.

[FortyOneFord]

Originally posted by MightySurfClam
Try TV figures in the USA for CART vs IRL vs F1 on equal networks. Ie network vs network and SV vs ESPN

You are the only one who brought ratings into the picture. Everyone else is talking events and track dates. And that is an area where CWS has a much stronger foothold than F1.

"Worse" case scenario seems to be the States only get 5-7 of the best events. Would that really be the end of the world? How many of us are able to even go to that many races a year? Not me.

CART/CWS is going to change, and some of the changes will not be to our liking, but some of them will turn out to be great. We aren't going to get everything we want. Bringing Bernie on board is a feather in CWS's cap and it will help the sport grow to where it needs to be.

[nrc]

Originally posted by lateralus42
Bernie letting someone use his name for their own personal profitt?? Yeah right.

I'm sure that in the plan Forsythe is pitching, Bernie risks the least and gains the most.

[MightySurfClam]

Gerry's got $$, why doesnt he just buy CART

[Mike Kellner]

He already owns a load of stock.

Do you have any particular complaint here, or do you just complain about everything CART does?

[MightySurfClam]

Im not complaining about anything.

[lone_groover]

Hey bivalve, you hopin' for a BIG ONE this weekend or what?

[MightySurfClam]

At Vegas? and Big One what? :confused:

[JT265]

I agree with those here that think this is a good deal, for a ton of reasons.

Like Mike said, Bernie is the most successful promoter in the world, we are aligned with a proper racing series, Bernie wants a bigger slice of the North American market, and it would give Lordtony and the "Freedom lads in Daytona", ;) cause for more ulcers.

If Bernie is hedging his bets against the GPWS, I would guess that Champcar remains as a NA based series, albeit in the most successful markets.

Ten years ago, I woulda laughed at this deal, but considering how far we have fallen off the radar, I think it is the best way to rebuild the series.

Your mileage may vary, however.

[oddlycalm]

My take is that Bernie sees a single race of dubious stature as a substantial market failure in the US. F1 in the US was by all measures dead a short time ago. Most international businesses find it unwise to fail in the single largest market.

In order to bring some interest to formula car racing overall, it's going to take more than just CART to capture the public's attention. There is no question that Bernie is looking to grow this market, but whether that means he wants an equity position in CART is another matter entirely.

If I had taken the bath that Forsythe has on CART stock, I too would be looking for something that would allow me to get whole again.

Pook's comments last night were as follows:

Q: ...what is the short-term if not the long-term relationship that we as CART want to have with Formula 1 and maybe you could even speak to the perspective about what Formula 1 wants to have with CART?

Chris Pook: Well, I´ll try and dance around the answer as best as I can. First of all, I think Formula 1 needs to be back in the United States at a level where it was when Formula 1 was running at Watkins and then at Long Beach and at Detroit. It´s very, very exciting, very good, very high quality. We need Formula 1 to be back in this country strong again, not in decline as it is at the moment. We all need to look up to something. It´s a good pinnacle to look to. We´re going to work with Formula 1 to see if we can help them get back up where they belong.

[DjDrOmusic]

Originally posted by Foxman
What if Bernie were to purchase CART as an insurance policy for when the Concorde agreement expires in 2007? It's already been well noted that the mfg's will create a rival series to F1 if necessary - CART could provide the perfect vehicle for Bernie to create that series and retain control over what would become of F1.

Funny, I floated this very scenario long ago on another forum and I think only one or two people saw my idea as viable, the rest laughed it down and called me crazy. However I am now seeing others say the very same thing, and I've even read a few articles (can't remember the exact ones) where this was hinted. I still believe Pooks insistance on V-10's is a direct link to CART becoming the NEW F1. Now I'm going back to my conversation with the mother ship. :p