Category: News

  • F1 driver salaries revealed

    F1 driver salaries revealed

    Curious to know whose earning what up and down the 2014 Formula One grid? Well wonder know more the 2014 F1 driver salaries have been revealed and it turns out that the Ferrari duo and Sebastian Vettel are the highest payest drivers this season.

    The three top F1 drivers are taking home an astonishing $29.4million each in salary payments. Four time world champ, Sebastian Vettel, got a nice $8million boost thanks to a new deal with Red Bull and Kimi Raikkonen also got a nice increase when he moved from Lotus to Ferrari.

    According to Business Book GP2014, who recently published the F1 driver salaries, Lewis Hamilton has dropped to fourth place following his move to Mercedes and is now earning a $26.7million annual retainer.

    F1’s new up and coming hero Daniel Ricciardo is earning a whole lot less than his team mate on the F1 driver salaries list, with an annual income of $1million, despite having dominated the world champ so far this season.

    Below is the full list of F1 driver salaries which makes for some very interesting reading.

    F1 driver salaries

     

     

  • Luca di Montezemolo rejects rumours of leaving Ferrari

    Luca di Montezemolo rejects rumours of leaving Ferrari

    Ferrari president Luca di Montezemolo has rejected claims he could be set to quit the red machine.

    Italian national airline Alitalia’s chief executive Gabriele Del Torchio announced last week that he was ready to leave the airline in the wake of a rescue deal with Abu Dhabi’s Etihad Airlines.

    Reports immediately surfaced that Montezemolo had already decided to leave Ferrari in order to the Alitalia.

    Etihad, who bought nearly nearly half of Alitalia, has solid links to Formula One and Montezemolo, including sponsorship of the Ferrari team.

    However, Spain’s El Mundo Deportivo have reported that when asked for comment, Montezemolo rejected the speculation saying, “after my family, there is nothing more important than Ferrari”.

    The same report detailed that Montezemolo had been “instrumental” in the Alitalia-Etihad merger, and that the Ferrari boss is not ruling out joining the board with a non-executive role that “does not interfere” with his responsibilities at Ferrari.

    Montezemolo insists however, that there are no such plans and that he remains committed to Ferrari.

    Only tell will tell.

  • F1 Video: Lewis Hamilton vs. Ken Block, Formula One vs. Rallycross!

    F1 Video: Lewis Hamilton vs. Ken Block, Formula One vs. Rallycross!

    Earlier this year, Lewis Hamilton visited the Top Gear Festival in Barbados. Watch this awesome video as he goes head-to-head with Ken Block! Formula One vs. Rallycross!

    DC Shoes co-founder, Ken Block, is a professional rally driver who is well known for his amazing rally driving skills which he has used to create the incredible viral YouTube video series known as Gymkhana.

    Ken Block essentially helped put rallycross racing on the map in America by competing in events at the X Games (his current X Games medal count is two silver and three bronze), as well as putting together highly successful campaigns in the Rally America Championship.

    In this video, Ken Block and Lewis Hamilton go head to head – awesome to see!

     

     

  • German bank rejects Bernie Ecclestone’s $33m settlement offer

    German bank rejects Bernie Ecclestone’s $33m settlement offer

    F1 boss Bernie Ecclestone may have been able to make a deal with the courts to bring his bribery case to an end, but according to reports, not with the German bank BayernLB.

    The German bank BayernLB which is at the centre of his bribery scandal has rejected Bernie Ecclestone’s offer of a $33 million settlement. Ecclestone was on trial for allegedly bribing banker Gerhard Gribkowsky in order to influence the sale of their major stake in Formula One back in 2005. The case ended without any conviction last week after Bernie made a $100 million payment to the court using a loophole in the legal system.

    Bernie Ecclestone may have thought his legal woes were over but unfortunately for him BayernLB has rejected his $33 million settlement offer.

    “BayernLB has rejected Mr Ecclestone’s settlement offer,” a spokesman for the bank told Reuters on Friday. The bank’s next step remains to be seen, though options available include civil proceedings or negotiating a higher settlement from Ecclestone.

    It is however believed that BayernLB turned it down on the basis that it paid Ecclestone a consultation fee of no less than $41 million after the rights sale. Added to that, the bank was previously seeking a mammoth $400 million in damages due to Ecclestone and Gribkowsky’s alleged undervaluing of the shares.

    Ecclestone told the BBC that he feels like “a bit of an idiot” for settling the matter with the German court.

    “They really didn’t have a case,” he said. “The judge more or less said I was acquitted, so I was a bit of an idiot to do what I did to settle because it wasn’t with the judge, it was with the prosecutors.

    “Anyway, it’s done and finished, so it’s all right. I’m content – it’s all fine. This now allows me to do what I do best, which is running F1.”

     

     

     

  • Bernie Ecclestone to Pay $100 Million to End Bribery Case

    Bernie Ecclestone to Pay $100 Million to End Bribery Case

    Formula 1 supremo Bernie Ecclestone will pay a $100 million court settlement to end his bribery case in Munich, Germany.

    Ecclestone, who owns the commercial rights to F1 had been on trail since April 2013 for allegedly bribing German banker, Gerhard Gribkowsky, to secure the sale of the 47% stake of the sport from BayernLB to private equity firm CVC Capital Partners. Ecclestone claimed he only paid the $44 million bribe because he was being blackmailed.

    A loophole in German law makes provision for a defendant to pay to end a trail under certain set of circumstances. After a defendant pays, he/she is neither guilty or innocent

  • Melbourne to retain Australian GP until 2020

    Melbourne to retain Australian GP until 2020

    Melbourne will continue to host the Australian Grand Prix until 2020 after a new five-year deal was finalised. After a year of negotiations a new contract from 2016-2020 was signed with Formula One Management in London last week to keep the venue on the calendar.

    Albert Park has hosted the Australian GP every year since 1996 when it switched from Adelaide and has established itself as a firm favourite amongst both fans and drivers alike.

    State Premier, Denis Napthine, seems keen to capitalise on the success of Australia’s home-grown hero Daniel Ricciardo who celebrated his second Formula One win in Hungary last week, and is is hopeful that it will continue to entice large crowds and TV audiences.

    Australian GP“This is a terrific announcement that reaffirms Melbourne and Victoria as the sporting and events capital of the world,” he told the 3AW radio station. “We’ve secured another five-year deal for the grand prix and we’ve secured a great deal for the people of Victoria that’s a better deal than the existing deal.

    “The new deal is on the same terms as the existing contract in that it will be the first race of the season, it will be in March each year.”

    “Within this contract we hope to see Australia’s own Daniel Ricciardo win the Formula 1 Australian GP and become World Champion.

    “Formula 1 is a key pillar of Victoria’s major sporting events strategy. This calendar is unrivalled worldwide, commencing with the Australian Tennis Open and Asian Football Cup in January, followed by the ICC Cricket World Cup in February, the Formula 1 Australian GP in March, the AFL Final Series, and the Spring Racing Carnival,” Dr Napthine said.

    In recent years F1 supremo Bernie Ecclestone has threatened to axe the race, but in a press release he was supportive of the event. “I congratulate Melbourne for the excellent way in which it presents Formula One to the world.”

    The Australian GP has become the traditional opening race for the F1 season since 1996 – except for 2006 and 2010. The new deal also means Albert Park will become one of the longest-serving venues on the F1 calendar.

     

  • F1 2014: Hungarian GP Review – Real-deal Ricciardo Shines In Hungary

    F1 2014: Hungarian GP Review – Real-deal Ricciardo Shines In Hungary

    In spite of what the circumstances may be, how improbable it seems or how much the odds are stacked against you there is something to be said for never giving up. Daniel Ricciardo, Fernando Alonso and Lewis Hamilton’s performance in the Hungarian GP were phenomenal examples of such resolve.

    Lewis Hamilton needed to dig deep as his miserable qualifying run continued. A suspected fuel leak brought a fiery end to his qualifying aspirations. A complete rebuild of the car relegated him to a pitlane start and a seemingly uphill battle.

    In contrast, Nico Rosberg reeled off another dominant pole position but Red Bull’s long run pace suggested that Sunday’s race could be closer than Mercedes would be comfortable with. A short rain shower before the start of the race demanded a start of the intermediate tyre but it was still poleman Rosberg who dominated the early stages of the race.

    The slippery conditions nearly caught Hamilton out as he survived a brush with the barrier after spinning off a turn 2. Up and down the pitlane the team strategists were made to work hard as questionable weather conditions and safety cars called for rapid decision making.

    ericcson-accidentThe first safety car was deployed to recover the wrecked Caterham of Marcus Ericsson.

    However, it was too late for Rosberg, Bottas, Vettel and Alonso to dive into the pitlane for slick tyres. A lap later, Daniel Ricciardo emerged in the lead of the race.

    Jenson Button, hoping for a timely rain shower, elected to remain on the intermediate tyres. However, as the track surface continued to dry so the chances of the McLaren driver dissipated.

    A second stint was required behind the safety car when Force India’s Sergio Perez crashed heavily into the concrete barrier on the start/finish straight. Ricciardo and the two Williams drivers took to the pitlane.

    hungary-alonsoThe reshuffle left Fernando Alonso in the lead of the race on a two-stop strategy. It nearly resulted in a spectacular victory for the Spaniard. Alas, it was a task slightly too big for the Ferrari driver to accomplish.

    Nevertheless, in what has been a trying year for the Scuderia Alonso’s relentless spirit earned him a stellar second place.

    Lewis Hamilton put his misfortune aside to complete a sensational run from the pitlane to the final step of the podium. Third place is not what the Brit aims for but it is a result that will do the psychology of his title bid a world of good.

    Lewis Hamilton Hungarian Grand Prix Post Race InterviewOn a more contentious note Hamilton was asked by his team to let his three-stopping teammate through. For his part it didn’t seem like Hamilton was wholly against the instruction but informed the team that Rosberg would have to get closer if it was going to happen. It makes perfect sense that Hamilton should not lose time to the car ahead in order to let his teammate through.

    Despite the differing strategies Hamilton was very much in the same race as his teammate and more importantly in an ever-tightening battle for the world championship.

    “I was very, very shocked that the team would ask me to do that [move aside],” Hamilton said after the race. “I’m racing for myself. Not for anyone else.” It was a preposterous request by the Mercedes team that has no place in the sport and, with any luck, will never be uttered over a team radio again.

    Nico Rosberg Post Race Interview after Hungarian Grand PrixNico Rosberg, home in fourth, was fairly unhappy about the incident after the race. The German has been performing at the highest level in 2014 but as the second half of the season approaches he will realize that it is going to require for him to dig deeper than he thought possible.

    Felipe Massa brought his Williams home in fifth position ahead of Kimi Raikkonen’s Ferrari in sixth. The Finn staged an outstanding comeback after a strategy error left him 16th on the grid.

    vettel-wallSebastian Vettel survived a spin on the main straight to finish seventh ahead of Valtteri Bottas in eighth.

    Jean-Eric Vergne ran as high as second-place in the race but was relegated to ninth to lead home McLaren’s Jenson Button in tenth.

    The utter determination of Alonso and Hamilton was a joy to behold but Daniel Ricciardo’s breathtaking race was every Formula 1 fan’s dream.

    Daniel Ricciardo Hungary 2014Late in the race the Red Bull driver pulled off two tremendous overtaking moves on Hamilton and Alonso on course to his second grand prix victory.

    The ease and class with which Ricciardo has taken to racing amongst the very best in F1 is indicative of a driver with a serious amount of talent. It wouldn’t be accurate to say that the Aussie is a star of the future; because Daniel Ricciardo is, unquestionably, already a star.

  • Niki Lauda says F1 does not need Flavio Briatore

    Niki Lauda says F1 does not need Flavio Briatore

    Formula One champion and F1 legend, Niki Lauda, sees no reason why Flavio Briatore should be brought in to increase the popularity of the sport and believes it is already making leaps forward with recent changes.

    Following lower numbers of spectators at some circuits and criticism of the sport across this season, Formula One has set up a new working group to work on the popularity of the sport. Flavio Briatore, who was banned from Formula One following the 2008 Crashgate saga, has been named as a possible candidate to head the group. Bernie Ecclestone has however since played down the chances of Briatore getting involved.

    Asked whether he thought Flavio Briatore was the man for the job, Lauda said, “No. Why do we need Flavio? I have heard this for the first time, but Bernie is in charge, and he should stay in charge.”

    Lauda says he trusts in Ecclestone to improve F1 and commented that a recent push to allow drivers to race without excessive penalties is already making the sport better.

    “We should think, together with Bernie because he is the master, what we can improve,” he said. “I have to say the change that we had with Charlie [Whiting, race director] and the stewards to not get involved as much as before was a great move. [At Hockenheim] even the Sauber in the middle of the road, it was exciting. If there was a safety car then everybody would get bored.

    “So Hockenheim was an improvement with ‘under investigation’, and in Hungary we have seen no problems at all with ‘under investigation’ because today there were a lot of things that could have been under investigation. It is going in the right direction now.”

     

  • Nico Rosberg 2014 Hungarian Grand Prix Post Race Interview

    Nico Rosberg 2014 Hungarian Grand Prix Post Race Interview

    Nico Rosberg tells Sky Sports F1’s Natalie Pinkham that the Mercedes team will have to “discuss internally” whether Lewis Hamilton should have let him pass in 2014 Hungarian Grand Prix. He is visibly unimpressed and annoyed. Rosberg was heard over team radio asking why Lewis was not letting him pass, and Hamilton was given a direct team order to allow Rosberg to pass him as they were on different strategies for the race. Hamilton however refused and has said that he made the right decision for him. No doubt there’ll be a team orders row brewing over at Mercedes.

    F1 2014 : Hungarian Grand Prix – Nico Rosberg Post Race Interview

  • Lewis Hamilton 2014 Hungarian Grand Prix Post Race Interview

    Lewis Hamilton 2014 Hungarian Grand Prix Post Race Interview

    Lewis Hamilton tells Sky Sports F1’s Natalie Pinkham that not letting Nico Rosberg pass following direct team orders during the 2014 Hungarian Grand Prix, was the right decision for him. Hamilton finished the Hungarian Grand Prix one place ahead of his team mate in third.

    F1 2014 : Hungarian Grand Prix – Lewis Hamilton Post Race Interview

    Lewis Hamilton 2014 Hungarian Grand Prix Post Race Interview