British GP to be held at Donington

[VIVA GT]

Originally Posted by davyboy

Gillett could do with taking some lessons on how to deal with the media. Since Donington was announced as the future home of the British GP, he's spent most his time 'bunkered', refusing to speak to the media, answer questions etc... Occasionally he'll surface to squeak that people are running down false tracks instead of seeing him to get chapter and verse, then refusing to answer any questions. There's an interesting insight from Edd Straw on the frustrations in dealing with Gillett in Autosport 15th October 2010. He's clearly an unpleasant individual and let's hope that when this is said and done he remains 'bunkered' for some time to come.

If he's got any sense he's upped-sticks and moved out to Brazil to live next door to Colin Chapman and Lord Lucan!

[p261brm]

Now it's midnight deadline, rather like some poor s*d on death row!

[Greem]

Originally Posted by p261brm

Now it's midnight deadline, rather like some poor s*d on death row!

I'll ready a candle for the moment the lights dim, then...

(I live nearby)

[Tim the Grey]

Just raise a glass, and hope someone with a soul gets Tom's toy to play with...

[mickey29]

The Express is reporting that the corpse twitched:
http://www.dailyexpress.co.uk/posts/...ll-in-the-race

He just will not give up. All credit (not financially) to him.

[Sodemo]

His loan has been granted by the mafia? They don't just break contracts Gillett, they will break your head.

[Dave 455]

Simon says the 2010 British Grand Prix is going to be at Donington still, he has now paid Bernie his money although it was 5-10 minutes late : -

http://en.f1-live.com/f1/en/headline...28091659.shtml

[Peter Mallett]

Originally Posted by Daily Express

A further delay would threaten the British grand Prix in 2010

Can someone shoot Gillett, he's doing himself, Donington or indeed the sport, no good whatsoever?

[Piglet]

Soooo how many people actually believe that he transferred real money?

The guy lives in fantasy land and he's doing real harm to our sport. Someone get shot of him please!

[numbersix]

Much as I fear for the survival of the British GP, and Donington, and much as I am now fed up to the back teeth of the whole shenanigans, somewhere at the back of my mind I like the idea of one man who just will not give up.

[JNWRF01]

Q: Has anyone actually been up to the track recently? How bad is it at the moment? Is it £m's to get the track back up and running - reports in press sound like lots of it have been dug up etc etc? Obv if its is £m's to repair - then unlikely anyone will take this on in the current environment..and are TW likely to want to take this on at his age? Its a shame - as one of the nicest tracks in the country..

Do we think there will be testing/racing there in the next 6-12mths?

[Ingsy]

To be honest, I'm now just irritated by the whole thing.

[old man]

Originally Posted by Marbot

The situation appears to be much worse than we thought.

http://www.pitpass.com/fes_php/pitpa...s_art_id=39409

The Express report does not ring true IMO, check the above link

If this report is of the details in the loan documantation is accurate Gillett will have difficulty entering into a contract for the work to be completed which must be part of his deal with FOM. So far as I know to knowingly enter into a contract when you cannot pay is fraud just as to write a cheque with no funds in the account is fraud and so how can a company that is technically insolvent either pay Bernie £12m or go ahead with the rest of the work?

Bernie and his people will know all about this and I just do not see this going any further unless someone of substance is taking over Gillett's deal. FOM will consider the deal dead I am sure, I would!

[ScotsBrutesFan]

Irrespective of whether the money is in place, havent' we got to the stage where the simply isn't time to get all the necessary work done to get Donington ready.

I don't just mean the track, as from reports the infield loop has been carved out, ready to have the track built on it, but the actual pit complex, additional grandstands.
Again from reports they haven't so much as put in a concrete foundation, yet it's supposed to be not only complete but finished to Bernie's Palacial standards by some deadline in April or May?

[stroller]

This guy makes Delboy Trotter look like business man of the year

[VIVA GT]

This whole debacle is just like a bad dream - or recurring nightmare!
It's not going to happen, it was never going to happen, it's all make believe.
I can only presume that it's a game played by very powerful and wealthy (and probably certifiably mad) people, the purpose of which we mere mortals are simply not clever (or deranged) enough to understand...

[dtb]

Originally Posted by VIVA GT

This whole debacle is just like a bad dream - or recurring nightmare!
It's not going to happen, it was never going to happen, it's all make believe.
I can only presume that it's a game played by very powerful and wealthy (and probably certifiably mad) people, the purpose of which we mere mortals are simply not clever (or deranged) enough to understand...

Agreed, I fear the same even though the supposed payment has been made, I still think it will fall flat and we will have no British GP next year or subsequent years, a very dissappointing state of affairs!

[Peter Mallett]

Gillett, the man who lost Britain its Grand Prix.

Some epitaph.

[Chris Y]

Originally Posted by old man

If this report is of the details in the loan documantation is accurate Gillett will have difficulty entering into a contract for the work to be completed which must be part of his deal with FOM. So far as I know to knowingly enter into a contract when you cannot pay is fraud just as to write a cheque with no funds in the account is fraud and so how can a company that is technically insolvent either pay Bernie £12m or go ahead with the rest of the work?

One of Gillett's companies is technically insolvent. That doesn't mean he hasn't got another couple he can use to transfer other people's money around with!

[jab]

At this point I would like to say...

Happy 79th Birthday, Bernie

[Bodysnatcher]

Too much doom and gloom here.

It might yet end up like the Foulston/Octagon deal.
The 12million initial payment to Bernie/CVC might allow Gillett to retain the rights to hold a British Grand Prix.
Where is down to Gillett.
He could, just like Octagon, sub it to Silverstone for a price yet to be hammered out between him and the BRDC. Whether they (Gillett/BRDC) lose or profit from such a deal lies in the future and how everbody plays the cards they hold. eg Gillet could absorb most of the escalator if he believes (and I'm sure he does) theres more money to be squeezed out of those prepared to watch or use F1.
DVLL or some shell company promotes the British GP.
This way BCE does not have to deal with the BRDC, but can still rail at them for inadequate facilities.

tomorrow is another deadline
(probably!)

[Bodysnatcher]

History teaches though that Octagon lost, lots.

[old man]

Whitmarsh agrees with the sentiments on this thread:

http://www.autosport.com/news/report.php/id/79803

[Piglet]

Originally Posted by Bodysnatcher

History teaches though that Octagon lost, lots.

They did (as did Interpublic who had guaranteed the Silverstone lease!)

I did know the figure quoted for Octagon's losses in one of their final years but I seem to have flushed it out of my brain! I'd have a guess at £23 million losses but that seems like a vast amount but IIRC it WAS a vast amount (across the whole BHL/Silverstone portfolio)

DVLL are in a different position though. Nicola/Octogaon were bright enough to start negotiating with Silverstone BEFORE they got into trouble and, it appeared, their contract allowed them to stage the GP somewhere other than Brands. I'm guessing that this made BCE spit feathers so I'd also guess that the contract with DVLL specifies that the GP MUST be held at Donington. BCE is unlikely to make that mistake twice! All that posturing for the GP to end up back at Silverstone, giving income to the BRDC at no risk to them! Can you imagine how ****ed off he was

DVLL are now in breach of their contract and that puts them in a very weak position. I'd lay money that their requirement is to hold a GP at Donington with no other option for anywhere else.

I too am bored with this. Perhaps the fairies at the bottom of the garden who subbed Gillet £12m quid could please come and take him away.....

[Moneyseeker]

Originally Posted by Bodysnatcher

Too much doom and gloom here.

It might yet end up like the Foulston/Octagon deal.
The 12million initial payment to Bernie/CVC might allow Gillett to retain the rights to hold a British Grand Prix.
Where is down to Gillett.
He could, just like Octagon, sub it to Silverstone for a price yet to be hammered out between him and the BRDC. Whether they (Gillett/BRDC) lose or profit from such a deal lies in the future and how everbody plays the cards they hold. eg Gillet could absorb most of the escalator if he believes (and I'm sure he does) theres more money to be squeezed out of those prepared to watch or use F1.

(probably!)

Octagon lost their shirt (and some) trying to do just this.
Where would more income come from these people prepared to watch F1? There is a ceiling to what people will pay to attend the BGP - which I would suggest is already there or thereabouts. Silverstone is already at capacity for spectators at the BGP.

The only income stream of note is gate money - everything else goes to FOM or Allsport - including sponsorship of the event (if they have a sponsor). There are some other bits and bobs that the circuit can extract a small extra income from but many of these are uncertain and in anyevent have to be approved by FOM and Allsport - who then take the bulk of that money anyway!

If holding the BGP were a cake - the circuit is left with a thin slice, some crumbs and the plate.....and unlike FOM -effectively none of the thin slice they get is even guaranteed income, depends how many tickets you sell.