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Posts Tagged Formula one Management

Bridgestone to Quit F1

Mar 18

Posted by Insider in F1, Tire

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Although both the president of the International Automobile Federation (FIA) Jean Todt and the Formula One CEO Bernie Ecclestone have expressed their hopes in recent weeks that current F1 tire supplier Bridgestone will remain committed to the series beyond 2010, the Japanese company recently confirmed their is no turning back to their initial decision.

Bridgestone announced through the course of the 2009 season that it will not renew their deal with the Formula One Management (FOM) at the end of 2010, pointing to the immense costs of their F1 operations as one of the main causes for this decision. Unfortunately, as confirmed by Bridgestone’s director of motorsport Hiroshi Yasukawa in a short interview with Autosport, that decision still stands.

“Unfortunately our company has made the decision, and nothing has changed,” said Yasukawa, while admitting that the Japanese officials are yet to make a decision on whether to sell the technology of their F1 tires to the winning bidders in the upcoming FIA tender process or not.

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US F1 Deny Shut-Down?

Feb 19

Posted by Insider in News, Racing

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After several reports in the US suggested that the Charlotte-based US Grand Prix Engineering is on its way to shutting down their Formula One operations in the next few days, the team issued a quick statement on Thursday in which it clearly states the latest rumors about the team’s financial situation are not true.

According to a report from the New York Times, YouTube founder Chad Hurley has allegedly decided to switch his sponsorship from US GPE towards Campos Grand Prix, while the already-signed race driver Jose Maria Lopez told his management to search for another commitment for the 2010 season in Europe.

The statement from Peter Windsor’s and Ken Anderson’s team also insisted that their website being off the air is only a technical issue.

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Koreans Interested in F1 Tires Programme

Jan 14

Posted by Insider in F1, Tire

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With Bridgestone announcing their exit from Formula One at the end of the 2010 season, Bernie Ecclestone must be going crazy looking for tire suppliers to replace the Japanese maker. In recent months, the biggest players on the tire manufacturer market - Michelin, Pirelli and Goodyear - have all declined offers to return (or debut) in the Great Circus.

However, according to German publication Auto Motor und Sport, there is still hope for Formula One. It seems two Korean tire manufacturers are now lined up to take Bridgestone’s place in the premier automobile racing series starting next year.

Although the German reporters did not reveal (or find out) the names of the two companies involved in the F1 discussions, we do know that there are only 3 major tire manufacturers in South Korea at the moment, namely Kumho, Hankook and Nexen. Of course, none of those 3 manufacturers have announced anything officially.

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