They wanted the teams to stand together to demand different terms. McLaren
team principal and FOTA chairman Martin Whitmarsh insisted on Friday that
the organisation still had a relevance. “Whether it’s through
FOTA or by whatever mechanism, I think it’s important that the teams
work together to really develop our sport,” Whitmarsh said. “To make
sure that we’re fit for purpose, make sure that we rise to the challenge
that Formula One has.
“We’re a sport, we’re an entertainment, there’s many challenges in front
of us and I think there’s been some great examples of co-operation
between the teams. There are other challenges that we’ve struggled
with but I think we should continue to try and work together.”
As well as the questions raised above regarding who has signed which version
of the Concorde Agreement, there is also plenty of speculation regarding the
new commercial structure proposed in last weekend’s leaked document.
CVC Capital Partners, Formula One’s owner, is said to be preparing to float
at least part of its stake on the Singapore stock exchange.
Any flotation would supposedly value the sport at $10bn although sources have
suggested to the Telegraph that that figure is unrealistic.
Senior figures from various teams spoke about the prospect of an IPO in
Friday’s press conference ahead of the Malaysian Grand Prix.
“If you take to the market a minority share it doesn’t change anything in
ownership,” Lotus’ Gerard Lopez said.
“It gives more liquidity to the owners, maybe more money to the sport, so
as long as there are no details on what might by IPO-ed or not, I don’t
think there is much to be discussed because it can mean many, many things to
many people. It really depends on what you’re going to take to the
market.”
Sauber’s Monisha Kaltenborn added: “What’s important to us is that whoever
owns Formula One should prepare the sport to face the challenges, which we
all will be facing, and to create parameters whereby running a team can be
sustainable for everyone here.”