I read today that Ferrari receive $80M more than the other teams from the Formula One (F1) motor sport.
If they receive $80M more than the other teams, one wonders exactly how much all the teams put together receive from Bernie Ecclestone. The F1 receives its funds from sponsorships. Gate takings probably only cover the rental of the grounds and other local expenses.
As we are talking about such huge amounts one has to presume that it costs a lot more than an arm and a leg to purchase even a small F1 sponsorship.
Think about this, then consider the latest sponsor Bernie has managed to recruit for Formula One. I am referring to the Indian motor manufacturer Tata who own Jaguar and Land Rover.
According to ITN:
“Trade ministers have been in talks with carmaker Jaguar Land Rover over a possible £1 billion Government bail–out.”
I suppose one may now assume that the British Government is contemplating indirectly supporting Formula One? This is the company whose CEO shafted the Labour government by paying a million pounds for the rights to continue tobacco advertising for a few more years knowing publicity would eventually force the government to pay the money back. Well done Bernie!
This now leads my cynical mind to wonder whether any of the owners of the companies the Labour government are bailing out will donate large sums to the Labour party prior to the next general election? But of course, Peter Mandelson would never countenance any such wicked plan, would he?