Crisis can't dent F1 - Ecclestone
 

Bernie Ecclestone has moved to play down the impact the global financial crisis may have on the world of Formula One.

The Japanese manufacturer Honda has already pulled out, citing the crisis in the car sales industry, but F1's chief executive insists 2009 will be business as usual.

"It's clear that the world financial crisis affects everyone, including the car industry. But it won't affect Formula One seriously," the 78-year-old billionaire said.

Ecclestone said the sport remains a huge draw, with which only the opening and closing ceremonies of the Olympic Games can compete.

On a visit to Serbia, he told the local newspaper Press: "As far as I know, all the tickets have been sold for almost every race in the next season.
"

A quick check shows however that tickets are still available at several venues.

"Moreover, we signed two huge deals, one with LG and one with DHL," Ecclestone added.

"It's simple: the big guns who want their ad across the whole world understand that Formula One is the cheapest way to achieve it."

D.B. © CAPSIS International
Source: GMM

he is a truely amazing business man.

How such an self-absorbed asshat like Bernie can get what he wants every time is just beyond me. Get me within 10 ft of him and I'd crush him into dust.

I would love to shake his hand and then proceed to tell him what a ****ing moron he is

Bernie is a dilusional dimwit.

According to this article it outlines a scenario whereby the UK taxpayer could end up owning formula one. This is because CVC which is the commercial rights holder of F1 purchased FOM through Debt financing from RBS which was partly nationalized by the British Gov. So if hypothetically CVC defaulted the the UK taxpayer would own FOM.

It's an unlikely scenario, but it shows how Bernie clearly is spewing BS.

BBC NEWS | Business | Cost concerns rile Formula One

There aren't a lot of guys at the top of successful billion dollar corporations that they have essentially built themselves, that you want to hang out and have a beer with . . .