Formula 1 - Back to the Future
The Formula 1 circus is in the midst of a second successful season after the global economic meltdown of 2008. The world's economies have not recovered but it appears that Formula 1's has weathered the storm. If you are to believe Formula One Management television viewership bounced back in 2010 with 527 million people having watched at least part of a race on television or in person, up from 520 million the previous year. Sponsorship is expected to bring in a total of $4.4 billion according to Formula Money, a research report on the finances of Formula One.
Max Mosely is thankfully gone from the paddock but 80-year-old Bernie Ecclestone still holds court and that according to some is a problem. Ecclestone like any self respecting despot has not designated a heir. Reports circulating have News Corporation, controlled by
Rupert Murdoch, and an investment company owned by the Agnelli family of Italy expressing an interest in taking over Formula One Management,
which organizes the races.
How the current hacking scandal has effected this scenario has not been muted but then F1 has never shied away from controversy. In fact F1 without a scandal brewing under the surface would seem quite odd.