USF1 To Stay True To Name, Rely On American Parts And Labor
Staying "true to its name is not so much a novelty as a necessity" for Charlotte-based USF1, according to Nate Ryan of USA TODAY. The team "will rely on American parts and labor, a Hollywood-trained creative staff (which is planning 250 hours of long-form documentary footage in high definition on the team's progress for its website) and the backing of a deep-pocketed U.S. entrepreneur," YouTube co-Founder & CEO Chad Hurley. USF1 "thinks it can run as a more economically efficient business by eliminating the middlemen who ship parts to F1 teams in England and Italy." Meanwhile, the team "will double to 100 employees next year," and USF1 Sporting Dir Peter Windsor said that there is "lots of sponsor interest, but no major companies have been announced to shoulder an annual budget" of $60M (USA TODAY, 10/22). Ryan reports USF1 "wants at least one U.S. driver by 2011 and is interested in" NASCAR driver Kyle Busch. Windsor: "I believe Kyle can win a world championship in Formula One. He's got exactly the right talent, the right approach" (USA TODAY, 10/22).
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Renault Reportedly Plans To Sell
Entire Formula 1 Team |
ON THE BLOCK? Switzerland's Motorsport Aktuell reported Renault "plans to sell its entire Formula 1 team and two seriously interested parties may buy it." Renault supposedly "wanted to sell a maximum of 49[%] of the shares and continue to remain in control of the team," but the publication reported Renault "may move for a complete sale of the factory racing team." Renault "could remain as a for-profit engine supplier." The "two interested parties are rumored to be" Mangrove Capital CEO Gerard Lopez and MegaFon Assistant of the General Director Andrei Krajnik, whose company is a Renault sponsor (AUTORACING1.com, 10/21).
MISSED OPPORTUNITY: In London, Kevin Eason reported media monitoring company Margaux Matrix estimates that Honda "missed out on publicity worth about [US$331.5M] during the first 15 races" of the '09 F1 season, a figure that "would rise with the worldwide exposure given to" Brawn GP driver Jenson Button's world championship. Honda "probably spent close to [US$1.7B] over nine seasons trying to win the World Championship and just when they had their best chance, they walked away," as team Principal Ross Brawn bought out the team to form Brawn GP. Brawn "told them the prospects for 2009 were good, and Jenson Button was fired up after he saw his car, but they panicked as the global recession took hold and quit when they could have been ahead." Eason noted Virgin sponsored the Brawn GP cars "at the start of the season when nothing was expected of the team." Virgin "got an immediate payback" when Button won the Australian Grand Prix in March, and Margaux Matrix calculates that Virgin overall "has enjoyed exposure worth about" US$61.3M (LONDON TIMES, 10/20).
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