New threat to British GP
Discussion
The British Grand Prix is facing a fresh crisis following a decision by the company that owns the contract to run the race to sell up.
Octagon Motorsports bought a 15-year lease to run the Grand Prix in 1999, but its parent company - the US marketing giant Interpublic - is to sell all its motorsport business because of debts.
Formula One boss Bernie Ecclestone said he was not worried about the move, but admitted it raised questions about the future of the race.
Ecclestone now admits the contract Octagon signed with him when it bought the rights to the race was not commercially viable.
"If someone buys Octagon, whatever its assets and liabities are, they will assume them. So either Octagon will run the race or someone else will," he told the BBC Sport website exclusively.
"It's a pity Octagon entered into an agreement not knowing what the commitments were, but I have no doubt they will honour those commitments.
"They made their decision based on research. They knew what they were getting into - I told them not to do it.
"The contract is guaranteed by Interpublic. But if no-one wants to run the race, then there won't be a British Grand Prix."
Octagon Motorsports bought a 15-year lease to run the Grand Prix in 1999, but its parent company - the US marketing giant Interpublic - is to sell all its motorsport business because of debts.
Formula One boss Bernie Ecclestone said he was not worried about the move, but admitted it raised questions about the future of the race.
Ecclestone now admits the contract Octagon signed with him when it bought the rights to the race was not commercially viable.
"If someone buys Octagon, whatever its assets and liabities are, they will assume them. So either Octagon will run the race or someone else will," he told the BBC Sport website exclusively.
"It's a pity Octagon entered into an agreement not knowing what the commitments were, but I have no doubt they will honour those commitments.
"They made their decision based on research. They knew what they were getting into - I told them not to do it.
"The contract is guaranteed by Interpublic. But if no-one wants to run the race, then there won't be a British Grand Prix."
That guy has absolutely no morals, just how much money does he want? He has got all the cash he could ever wish for and should start ploughing a bit of it back into the sport that he has made so much off the back of. Yes he is probably an outstanding business man but maybe its time he showed some compassion and dished out some wonga!!!! ( I will have a T350C for starters - in BMW/Williams/HP Blue)
Ecclestone now admits the contract Octagon signed with him when it bought the rights to the race was not commercially viable.
Burnt Ecclescakes really is a t
r! Why did HE sign the contract if he knew it was not commercially viable for the other party? Don't bother answering, we already know 
If there is to be no British GP it is due more to the fact that BE is gradually moving F1 away from European tracks where tobacco advertising is coming to an end.
All new GP venues being mentioned (Russia,China, Egypt, etc ) are countries with no plans to ban F1's biggest sponsors.
Any time Bernie can find a way of dropping a European track, he will take it.
Seems that money is more important than anything else in F1.
Wow, what a major shock........
All new GP venues being mentioned (Russia,China, Egypt, etc ) are countries with no plans to ban F1's biggest sponsors.
Any time Bernie can find a way of dropping a European track, he will take it.
Seems that money is more important than anything else in F1.
Wow, what a major shock........
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