Comments on: Qadbak’s BMW F1 deal to fail?

By: "for sure"

"for sure" — Thu, 26 Nov 2009 10:25:50 +0000

BMW have clearly made a complete hash of their exit from F1 but, and in my view it’s a big but, would they really have failed to do effective due diligence into what lay behind Qadbak, before agreeing the deal? Would they realisically be so cavalier as to agree a deal with a confidence trickster without any substance behind it?

By: SJ Skid

SJ Skid — Tue, 24 Nov 2009 00:28:03 +0000

We have GOT to get a better translation program! :)

By: PeterRiva

PeterRiva — Mon, 23 Nov 2009 23:10:53 +0000

Someone we know in Munich reported that BMW were guaranteed the money – corporate income – from Bernie and that is it Not part of the sale. And the Swiss paper you are reviewing here is a Sunday rag sheet. It may not be accurate.

By: JD

JD — Mon, 23 Nov 2009 22:50:27 +0000

Come to think of it, BMW probably totally screwed up their F1 exit, just the same way that they got their 2009 car design all wrong. By quitting F1 during mid season, they have given up their rights under the Concorde Agreement, which would include their revenue share. By doing so, the FIA was able to add Lotus to the 2010 list and Sauber is out. Perhaps even if Sauber is allowed back in, they will still not receive the 2009 revenue share.

By: JD

JD — Mon, 23 Nov 2009 22:40:52 +0000

By signing the Concorde Agreement, Toyota legally bound itself to continue participating in F1. This responsibility has not changed just because the corporate mothership announced they are leaving.

In the “real world” if you sign a long-term lease to rent an apartment or condo, you can’t just announce to the world you are leaving and then expect to be excused of all responsibilities that come with your signature on the rental contract. The affected party has the legal right to persue recourse.

There is no 13th slot available until the legal questions of Toyota’s contract to continue in F1 are resolved. This is not the FIA trying to flush out Qadbak, although maybe they want to do that also. But in a legal sense, the FIA has no opening to offer Sauber at this time because the Concorde Agreement essentially states that Toyota is still in F1.

The BMW F1 share of revenue may indeed be contingent on the team continuing in F1. And as of today, they are not in F1. Toyota still is. It is a legal conundrum.