Bowie69 Posted September 13, 2020 Share Posted September 13, 2020 Eddie Jordan was quoted today, at the Tuscan GP, saying that Ineos will buy out 70% of the Mercedes F1 team.... Thoughts? Quote Link to comment Share on other sites More sharing options...
western Posted September 13, 2020 Share Posted September 13, 2020 The cars are already marked up with INEOS, so at a guess the deal is in the pipeline https://www.autosport.com/f1/news/152102/ineos-linked-to-mercedes-f1-team-buyin https://www.ineos.com/news/ineos-group/ineos-becomes-principal-partner-to-mercedes-amg-petronas-formula-one-team/ https://www.planetf1.com/news/ineos-buy-mercedes/ Quote Link to comment Share on other sites More sharing options...
jeremy996 Posted September 13, 2020 Share Posted September 13, 2020 I struggle to see why anyone in their right mind would buy into F1. Even being a sponsor seems a bit crazy as F1 defines "money pit" for me. Quote Link to comment Share on other sites More sharing options...
Bowie69 Posted September 13, 2020 Author Share Posted September 13, 2020 Lot of teams seem to make it work financially.... Quote Link to comment Share on other sites More sharing options...
western Posted September 13, 2020 Share Posted September 13, 2020 a fair bit of F1 research & development does eventually find its way into normal road cars, things like antilock brakes,traction control, electrical steering systems for instances, so not totally a moneypit. Quote Link to comment Share on other sites More sharing options...
elbekko Posted September 14, 2020 Share Posted September 14, 2020 Plus the Merc team ran at a ~30M loss last year, while generating a few billion in advertising. Not really money pit. And starting next year there will be a budget cap. I still somewhat doubt it's true though, but you never know. Eddie Jordan is rather broken-clock-like. Quote Link to comment Share on other sites More sharing options...
jeremy996 Posted September 14, 2020 Share Posted September 14, 2020 I'm an accountant by training - most F1 teams acccounts do not make happy reading, if they have freestanding accounts in the first place. There is a lot of original and applied research done by the teams but any value will go to the parent company; for most F1 teams there is a subsidy in terms of a direct marketing payment or some other transfer of value. Ineos is a bulk chemical company; I am struggling to see the synergy, but that may be explained by me being in my homeoffice, bashing away on a laptop and Jim Radcliffe is not!! Quote Link to comment Share on other sites More sharing options...
Bowie69 Posted September 14, 2020 Author Share Posted September 14, 2020 44 minutes ago, jeremy996 said: Ineos is a bulk chemical company; I am struggling to see the synergy Jim is making a few forays into sport, e.g. he bought Team Sky out last year.... I wonder what event support vehicle they will use at some point in the future Quote Link to comment Share on other sites More sharing options...
mad_pete Posted September 14, 2020 Share Posted September 14, 2020 £400 million a year is a fair bit. I think at some point if you own a massively profitable company and land rovers aren’t costing you enough this is a good scale up money spend option. Quote Link to comment Share on other sites More sharing options...
Snagger Posted September 14, 2020 Share Posted September 14, 2020 I would assume that much of that budget comes out of the profits column and into other expenses and costs, so through the magic of accounting, most of that would just disappear from the tax bill and not cost Ineos all that much. Quote Link to comment Share on other sites More sharing options...
Bowie69 Posted September 14, 2020 Author Share Posted September 14, 2020 1 hour ago, mad_pete said: £400 million a year is a fair bit. I think at some point if you own a massively profitable company and land rovers aren’t costing you enough this is a good scale up money spend option. Budget is being capped at $175m from next year. Going to be interesting.... 1 Quote Link to comment Share on other sites More sharing options...
mad_pete Posted September 14, 2020 Share Posted September 14, 2020 Well that’s more like it. Shall we do a forum team group buy ? 🙂 1 Quote Link to comment Share on other sites More sharing options...
Bowie69 Posted September 14, 2020 Author Share Posted September 14, 2020 I found a pound in a drawer earlier! Quote Link to comment Share on other sites More sharing options...
steve b Posted October 26, 2020 Share Posted October 26, 2020 I see Ineos have launched a weapons(hospital) grade hand sanitizer with a backdrop of all their major sponsorship deals and the Grenadier chasing the peleton too. You have to admire the commitment to brand promo , and spotlight focus. Steve 1 Quote Link to comment Share on other sites More sharing options...
jeremy996 Posted October 26, 2020 Share Posted October 26, 2020 Ineos is a chemical company - if they cannot source ethanol and a gelling agent, then we're doomed! 1 Quote Link to comment Share on other sites More sharing options...
steve b Posted October 26, 2020 Share Posted October 26, 2020 ...indeed , but the marketing is light years ahead of JLR.... 1 Quote Link to comment Share on other sites More sharing options...
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