Will Virgin be an F1 “Virgin?”
Several days ago the Telegraph published an article noting Bruno Senna, who had been rumored to be in line for a seat at resurrected F1 Honda, was not going to get a seat next to Jenson Button.
Brazilian oil company Petrobras, reportedly the cash cow behind Senna’s chances at Honda, has since publicly stated they had no interest in remaining as an F1 sponsor after the current season in completed.
Buried in that story was a blurb about “a bid from an unnamed third party” that had tossed a solid gold monkey wrench into a proposed management buy-out being led by the current CEO Nick Fry and team principal Ross Brawn.
In Tuesday’s edition of the Telegraph the paper reports “a source close to the Japanese manufacturer” confirms Richard Branson’s Virgin Group is the aforementioned “unnamed third party” and has made a bid to save Brackley-based outfit.
“They have made a bid to purchase the team,” said the source, who refused to be identified. A spokeswoman for Branson declined to comment, saying the Virgin Group were “constantly named in speculation and rumor”.
“We do not comment on speculation,” a Honda team spokeswoman added.
This looks to be boiling down to a tussle between Nick Fry and the resources at his disposal and that of Richard Branson.
A betting man should probably place a few dollars on Branson, the guy has his financial fingers on the entire globe in one form or another. He’s Britain’s answer to Donald Trump and marketing’s answer to Red Bull who have plastered their logo on everything.
NOTE, my title is a bit of a misnomer. The Virgin Group wouldn’t be an F1 “virgin” in the truest sense. Branson’s Virgin Mobile brand played a bit part in sponsoring the Jordan team during Takuma Sato’s tenure and Virgin Atlantic Japan remains his sponsor.
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Somehow I can’t get my head around this one. Not withstanding his telco empire, the airline part of his business is taking the brunt of the economic slowdown. Domestic Virgin Blue in Australia is layinging off 400 staff, International Virgin Atlantic is cutting flights.
Hmmm, I can’t see the upside for Branson promoting his wares to a market that is not booming as it was in recent times.
Come on Peter, it can’t be all bad, The Gnome has open arms.
For cash!
Besides, since when has Branson shown any financial restraint. When you have billions whats a few million spent on his hot-air balloon escapades or an F1 team.