Sidepodcast

Thursday Thoughts - F1 and Government Funding

This week, Dan Brunell has taken the lead for Thursday Thoughts, posing a rather tricky question over on his Racing Eagles blog. This week, we are tackling economics, and whilst I work with numbers, I still spent some time scratching my head on this one. The question, then:

Is government finance of Formula One events, teams, and personal a good thing for the common good of that area? What is the line between regional economic investment and the wholesale fleecing of the public?

Immediately, I think of Silverstone. Damon Hill is constantly bemoaning the lack of support the BRDC gets when it comes to running the Grand Prix for Britain. Even when Donington took over, they were allowed to fail spectacularly without even a blink from the government. The question over whether taxpayers should fund Formula One really falls back to a more general one of whether we should fund sport at all. If we're helping to pay for one, there's no reason not to pay for another, even if it is a rather expensive one. With the Olympics dominating headlines at the moment, this is really a timely question.

The thing about Silverstone is, it does help the local economy. I'd never even heard of the place until I became a fan of F1, let alone been anywhere near it. At the track itself, Porsche have invested in an incredible car and human performance facility, there is a science and technology park, with the Silverstone Innovation Centre. Plus nearby teams, such as Force India, are creating work for hundreds of people.

When Canada lost their race, their economy suffered enough for the government to turn to hotel owners to make up the difference. A tax levied on hotel occupancy, and presumably on restaurants and fans themselves.

So, you could certainly make an argument that F1 is beneficial to sport, and to the local economy. The problem arises, as it so often does, with one Mr Bernie Ecclestone. Damon Hill is miserable because Bernie is charging enormous amounts for the race and leaving little for development. If the government poured money into the circuit, it's conceivable that Bernie would increase his fees, and there would still be little room for development. I'm not in favour of the taxpayer money heading straight for Bernie's pockets any more than it has to.

Thus, I conclude, in my roundabout way, that Damon Hill is going to have to stay miserable for now. I want the government to support all kinds of sports, but Formula One doesn't have the right attitude to make that a feasible option right now.

Daily: 7th January 2010

We have reached Thursday and most of the news is still about Flavio and how that is affecting everyone in the sport at the moment. There isn't much more to go on though, so perhaps it's worth looking at other things going on right now. Before I start, make sure you check out the new F1 Minute video. Onwards:

• The good news is that Donington Park hasn't completely gone to the ground yet, as the Wheatcroft family now have the keys back in their possession, and they're committed to re-opening the circuit as soon as they possibly can. Tom Wheatcroft's son Kevin is now in charge, and his main priority is saving jobs and keeping things going for the fans.
• Sauber have become the first team to announce their launch - now that the single group thing has been thrown out the window. At the end of January, just ahead of the first test of the year, we'll get to see a brand new car, apparently to be called the C29.
• In what should be a new segment for F1 Digest previews this year, I want to gather together your thoughts about the circuits on the 2010 calendar. I've set up a wiki page to collect them, and it explains it better than I could do here, so dive right in and leave your opinion on the tracks we will visit this year. (Multiple thoughts per track are actively encouraged!)

That should do for now. Snow is still causing havoc around the UK, so we'll see what today brings! I'll catch up with you in the comments.

Daily: 27th December 2009

Wikipedia tells me that today is "Crate Day" - the day after Boxing Day when all the boxes were loaded into crates. I don't really understand - what boxes? what crates? But still, I do like the idea that soon every day will have an official name. Anyway, here are some of the things we're talking about:

• At last, it appears there is movement within the US F1 camp, as a website has appeared. The design leaves a lot to be desired, but there is some merit in simplicity, I suppose. The problem is, there still doesn't seem to be anything of major substance and if this is just to appease Bernie, I'm not sure it's going to work. The video is good though.
• Joe has news about Donington, that it has been returned to its rightful owners - the Wheatcrofts. Considering what a state it is in, I don't suppose they are particularly happy about it, but if anyone can sort out the mess, I think the original owners can.
• Following some inspiration in the comments yesterday, I'm tempted to try and make a 2009 in Audio best of show before the year is out. It is hard work, and I need your help. If you can remember any of your favourite bits from the year gone by, from all audio (except Sidepodradio which will get a best of to itself), then please leave it in the comments with a hashtag #09inaudio. We've had some great suggestions so far and any and all are appreciated as I try and wade through all the audio we've created this year.

That should do it for now. Let us know what you're up to, if you've run out of turkey yet, or if you are having to gear up to go back to work. I'll see you in the comments.

Daily: 26th December 2009

Boxing Day traditionally means recovering from the day before and eating all that leftover turkey. It will be turkey sandwiches and turkey curry for everyone for weeks, I'm sure. We were right about the F1 news, though, there was very little. Here's what we're talking about:

• Autosport have an interesting article about ten things that didn't happen this year. I'm assuming they mean things that we believed would happen, otherwise that would be a pretty hard list to narrow down! Some of the things could still happen, so we'll have to keep our eyes peeled.
• Poor Donington Park didn't get the Christmas present they were looking for as they couldn't find a buyer for the lease, and therefore the future is looking pretty bleak. We've discussed the Donington thing in great detail before, but it's sad times.
• There was a special festive edition of F1 Minute yesterday with a couple of statistics, some facts and figures, and a special thank you to all who have listened this year. The Minute is on a break until the new year now, so there had better not be any massive breaking news.

That'll do it for now, hope everyone is enjoying the holidays, and we will see you in the comments.

Daily: 9th December 2009

Hello there. Here is your useless fact of the day, according to the people's encyclopedia. Today in Sweden and Finland, it is Anna's day - a day that celebrates anyone called Anna. Isn't that a bit mean to people who aren't called Anna? I assume there is a reason but I cannot find out why. A mystery. Anyway, here's some F1 stuff:

• Mr Buxton has a post on the recent Silverstone deal, which reminds us that although it's all good news for the British GP, there is still a track that has been left as a building site with no immediate prospects. In the comments last night, we were trying to work out who was to blame for this - the Wheatcrofts, Gillett, Ecclestone - the list is endless.
• Whilst we're on the subject of complete and utter failures, I have given up on Twitter and gone back to using Identica. I know there are only a select few people over there, and I won't be pushing madly for others to join - although come and say hi if you do! - I just wanted to let you all know where I'd gone.
• I also updated the Daily Post Guest Writer wiki page with space for a brand new week of guest writers. If you fancy having a go, or another attempt if you took part last time, then sign yourself up. It probably won't be until January now, but get in there early to secure your spot.

That'll do it for now. Don't forget, a new advent show goes up every day until Christmas, just a few moments after this daily post appears, so head on over to relive a moment from the 2009 season. I'll see you in the comments.

Daily: 26th November 2009

Thursday has arrived and although it is an unpopular day amongst Sidepodcast readers, I am determined we should all make the most of it. To help us along the way, here are some of the things we're talking about:

• Pitlane Fanatic have kicked off a great new series of posts, going deeper into some of the well-used phrases of an F1 weekend. This first entry looks at the racing line, particularly when cornering, and how getting it right can affect your performance when you come out of the corner. A very insightful post.
• James Allen has shared the latest in the Schumacher rumours, and although the speculation hasn't stopped, it still seems to be erring on the side of unlikely. I also enjoyed James' top 5 drivers post, where at the bottom he picks some winners of his book. He follows it by saying, if you didn't win, still buy the book anyway! Made me chuckle.
• Meanwhile, it seems like Simon Gillett just isn't ready to give up on the British GP dream, despite the fact that his company have gone into administration. He thinks the possibility is still there for a buyer to come in and save the day. Hmm.

That's all for now. Let us know what you're up to today and how your week is panning out, and I will see you in the comments.

F1 Debrief - The Hotel Did a Great Job Today

• Length: 44:08 
• Size: 40.6 MB 
• File: debrief122.mp3 
• Transcript: Coming soon 
• Torrent: debrief122.torrent 

This week we discuss the little action from Abu Dhabi, some circuit and team news, plus catch up with some great feedback.

Intro

Mr C gets called a legend. Hmm.

Good Week / Bad Week

Good week for Senna and Campos as they join forces, and for marriage proposals, plus a bad week for Heidfeld and window cleaners.

News and Views

Donington Park has quite a lot of bad news this week, plus Williams seemingly cosy up even further to the FIA.

The Race

We skirt around the issue quite a lot in this week's debrief, trying to avoid talking about the race. However, we do talk about it briefly, and look forward to the off-season.

Fantasy Racers

Naturally, Kathi won the championship, and we review some really good end of season team owner press releases.

Feedback

A couple of voicemails, some emails plus yet another new blog for Mr C to read.

Housekeeping

Our Top Gear competition comes to an end this week, and we finally got around to releasing the new homepage.

Linkage

• Williams Eyewitness Blog
• Parade Lap replay
• Untitled F1 Blog
• Top Gear Competition
• Sidepodcast's Drop
• Fantasy Racers
• Sidepodcast Wiki

Ecclestone Confirms Donington Dream is Over

Bernie Ecclestone has at last realised that Donington Park cannot keep having deadline extension after deadline extension for their British GP hosting hopes. Speaking to reporters in Abu Dhabi, he said:

"There's no Donington. They've missed the deadline which we kept extending for them. It's unfortunate for them, to be honest with you. It was the credit crunch that caused them to be in trouble because their intentions were good, that's for sure."

He also confirmed that there are talks ongoing with Silverstone, but in his usual Bernie manner, he is not giving anything away.

Almost no one expected Donington to happen but it has been a long old ride to get to the end.

Daily: 27th October 2009

It is the 300th day of the year today, which is a nice round number. I approve. It's also Tuesday, which means we're well underway in the week now. Here are some of the things we're talking about:

• Toyota are supposed to be making their decision over Timo Glock today, although the medical reports so far have apparently not been particularly hopeful. If he cannot race, Kobayashi will get another chance behind the wheel.
• It also appears that Donington's final deadline has actually passed now and they must be in some sort of legal troubles. Damon Hill has said he is confident they can sort something out for Silverstone.
• Raikkonen has said he's hoping to have a good result in Abu Dhabi this weekend so that he can leave Ferrari on a high. Still no word on what his plans are for the future, but perhaps even he hasn't made up his mind yet.

That'll do it for now. Don't forget the Sidepodcompetition, and if you want something to listen to, F1 Debrief is all edited up and ready for consumption. I'll see you in the comments.

Another Donington Deadline

Donington Park must prove today that it has the funding in place to host the British Grand Prix in 2010. However, yesterday evening, Radio 5 Live quoted unidentified banking sources suggesting the required bond issue had been withdrawn, likely spelling the end of the road for Donington Ventures Leisure Ltd.

CitiBank were placed in change of selling bond deals worth £135m. It's expected that a statement will be made later today. Questions remain over the future of the British event, however Silverstone announced two days ago that it had made recording profits in 2008 of £662,000 and remains keen to retain the race if a deal can be reached.

Updated: An official statement has now been made:

Donington Ventures Leisure Limited can confirm that a bond for 135 million pounds ($224.8 million) to cover the cost of the F1 redevelopment at Donington Park has been unsuccessful.

Despite higher than expected levels of interest and very positive early indications, the bond - which was launched with Citi Group last week - has failed to secure enough subscription ahead of today's deadline.

Updated: Autosport are reporting that Silverstone are undertaking serious discussions with Bernie Ecclestone about the future of the British Grand Prix, whilst Monday afternoon becomes the next deadline in Donington Park's seemingly elastic calendar.