F1 Considering Takeover Bid From Murdoch’s News Corp.

Rupert Murdoch’s News Corporation and an Italian-based investment firm have combined for a possible bid to take control of Formula One, it was revealed Tuesday.

Formula One’s owners have been approached by Rupert Murdoch’s News Corp. about a potential joint takeover bid with the investors behind Ferrari, the sport’s oldest team.

In a joint statement, News Corp. and Exor said said they are discussing the “possibility of creating a consortium with a view to formulating a long-term plan for the development of Formula One in the interests of the participants and the fans.”

Exor, controlled by the Agnelli family who run the car giant Fiat which in turn owns Ferrari, has confirmed it is exploring the prospect of putting together a takeover bid with News Corporation.

“Over the coming weeks and months, Exor and News Corporation will approach potential minority partners and key stakeholders in the sport. There can be no certainty that this will lead to an approach to Formula One’s current owners.”

CVC maintains that it is not actively trying to sell F1, but a statement opens the door to future takeover talks.

Any takeover would involve changes to the Concorde Agreement, a commercial arrangement involving the racing teams, CVC and the sport’s governing body, the FIA.

This agreement says that the sport should be shown on free-to-air television where possible.

However, the agreement runs out at the end of 2012, and the signatories are in the process of negotiating a new one.

Ecclestone said: “You would think if somebody wanted to buy it they would approach the people who own it to see if they want to sell it. Personally, I know CVC don’t want to sell, so it’s going to be a bit difficult. I can see CVC in for the long haul, absolutely, 100%.”

However, reiterating the “ridiculous” offer line, Ecclestone added: “If somebody came along and offered them a lot more money than it’s worth, they would obviously say: ‘Sit down, let’s have a chat.’ But I get the distinct feeling that’s not going to happen. I can’t understand why a company as big as News Corp need to keep looking for partners.
First it was Carlos Slim, and now we’ve a new one.”

If any bid is made, a potential sticking point is the Concorde agreement, the arrangement that binds together the teams, the governing body – the FIA – and CVC. A clause in the agreement stipulates transmission of races must be via free-to-air broadcasters, rather than subscription services such as Murdoch’s Sky network.

Nabil Jeffri Becomes F1’s Youngest Driver

Nabil Jeffri Becomes F1’s Youngest Driver – The teenage Malaysian Nabil Jeffri becomes the youngest test driver in Formula One history when he drove a Lotus T127 on a runway at the UK’s Imperial War Museum in Duxford, Cambrigeshire. He drove 1.5-kilometer straight line.

Jeffri said: “It was unbelievable. It’s super fast. You can’t even see a thing. The acceleration and the braking are very different.”

Less than a year ago, he caught the eye of Lotus Racing’s team boss, Tony Fernandes, while he was sitting behind the wheel of a go-kart back in Malaysia. At that time, he was looking for sponsorship to enter Formula BMW, which is a single seater racing class for juniors. Jeffri impressed Fernandes very much that he made him an offer on the spot.

The Lotus Racing’s team boss said “I can see that he has the right character, the right aptitude and the right intellectual level to go very far. e’s got a very good down-to-earth nature about himself. And I think humility is a key ingredient in dealing with success.”

Jeffri keeps his sights on securing a Formula One drive by the time he reaches 21. And at the age of 23, he’s positive that he can win the world title, the same age Lewis Hamilton was when he became Formula One’s youngest-ever world champion in 2008.

Jeffri is currently part of AirAsia ASEAN driver development program, which Fernandes set up to nurture young talent in Asia. Fernandes wants to use his involvementin the sport to give young people in Malaysia and Southeast Asia the confidence to believe that they can become world champions.

F1 Monaco Grand Prix 2010 Results and Latest News

It is such a shame when you race and you bump the car into the wall.  It will be more expensive to repair on the part of the team.  Anyway, the F1 Monaco track has been knows as one of the most brutal tracks in F1 as it is a street circuit and it could get crowded there sometimes with 20 ++ race cars.  There’s a lot of opportunity to bump yourself into the wall.

For this 2010 F1 Monaco race, only 13 made it to the checkered flag.

Find out the list of the drivers and the result of the 2010 F1 Monaco Grand Prix here.

F1 Spanish Grand Prix Results 2010 – Circuit de Catalunya

*photo credit: F1 Fanatic blog

Mark Webber gracefully won the 2010 Formula 1 Spanish Grand Prix in the amazing Circuit de Catalunya.

Fernando Alonzo did his home country proud and finished second.

Sebastian Vettel this time came only at third but he has been consistently on the top 3 pole position all the time.  I’d say, the Red Bull team has been getting very very competitive.

Meanwhile the rest of the results are here.

Latest Spanish Grand Prix 2010 Practice Results and Review

It’s another interesting practice in the world of the most luxurious sporting event in the world – the Formula 1.

On today’s Practice in the Circuit de Catalunya, Sebastian Vettel gracefully made it to the best time in practice.  The Red Bull team has been gaining points on top of other teams.

Meanwhile, more analysis and review of the Spanish Grand Prix 2010 can be found here.

F1 China 2010: Chinese Shanghai Grand Prix Result

Button wins the Shanghai Chinese Grand Prix!  Second on the Podium is Lewis Hamilton.  Good job for Mercedez.  Third on the podium is Nico Rosberg.  Meanwhile, team mate Michael Schumacher is tenth on the ranking of about a minute behind team mate Nico Rosberg.  Does Michael Schumacher have a wonky car? or is he loosing his F1 Mojo?

Anyway, check out the complete list of rankings and the result of the Chinese Shanghai Grand Prix result here.

Qualifying Results of the Chinese Grand Prix in Shanghai F1 2010

The Formula 1 race has moved on to Shanghai, China.   Amazing progress is on the works for our favorite teams.  Red Bull – Renault is doing a pretty good job keeping on top of the game by having Sebastian Vettel and Mark Webber effortlessly fall on top of the grid.  They are followed by Fernando Alonzo of Ferrari.  Felipe Massa was on 7th grid.

Meanwhile, our favorite legend Michael Schumacher has not been doing good but at least he made it to the top 10 grid.  Still not enough for the awesome driver that he was.  If he would have came back with Ferrari (his old team), how different would things be?  What do you think?

Click here for the complete list of the Qualifying grid and the best times of the drivers.

*photo credit: F1 Fanatic blog

Results of the 2010 F1 Malaysian Grand Prix in Sepang

Two Red Bull teams dominated the game.  Fortunately, it didn’t rain on the track and this was a relief in the Malaysian Sepang Track!  We are all glad to watch the race get finished without rain interruptions.

Anyway, First place went to Sebastian Vettel and his fans were really proud of him.  Second place went to Mark Webber in the podium.  Both of them are from Red Bull – Renault teams.  Third in the podium was Nico Rosberg for Mercedes.  Nico is Michael Schumacher’s team mate.  Michael however is nowhere to be found on the top 10 this race.  He was doing okay on the last two races but he just was not fortunate enough today and in face he retired on lap 9.

Anyway, more F1 updates and details about the Malaysian Grand Prix 2010 and results here.

F1 Malaysia – Sepang Grand Prix 2010 Qualifying Top 10 and Pole Position Grid

F1 just got more interesting.  We always love it when it rains in the circuit as this puts drama and challenge to our drivers and teams.  Today’s qualifying for Malaysia – Sepang Track is no exception.  It was a wet race for the pole position in the Grid.

Schumacher fans were a bit dissapointed as they were expecting him to improve.  Though his performance was not bad, still, he’s put on a pressure spot to make it to the top more.  Although this is the case for him, his other team mate, Nico Rosberg however got the second spot on the grid.

Red Bull – Renault team made a very well job as Mark Webber placed first and Sebastian Vettel second on the grid.  For a view of the grid and the top 10 pole position, click here.

Results of the F1 Melbourne Australian Grand Prix 2010

The F1 Australian Grand Prix 2010 has just been concluded and it seems deja vu to see Jensen Button again in the Podium!  Last year in Australia he also was at the top of the podium.  Lewis Hamilton was the most upset about the race as he had tire problems.  Button however made one risky decision in the race but it paid off!  Schumacher stands included in the top 10… Nice comeback for our Legend, but we need to see him in the podium next time!

For the top 10 and updated list of the results of the F1 Australian Grand Prix race for 2010, click here.