Cold Fussion wrote:
Don't you view a select number of teams competing in the sport as well as running the sport as a conflict of interest?
No, because the teams have a common interest - to promote racing, sell sponsorship, sell their services outside the sport, and for manufacturers - sell cars. It would be like athletes creating a 'sports administration' entity to handle all the athletes of a group, for example. The organisation makes the deal, the teams control the organisation.
Bernie has a conflict of interest because he wants to pocket the most amount of cash - regardless how that effects the teams (see HRT going bankrupt). With all the teams in control of the money, they decide how it's split and how much of it is split. Media rights are just one revenue stream for teams.
F1 is valued at $10B. Thats 10 billion, my friends. How does a team go bankrupt with all that cash.......simply, because they aren't getting it.
Cold Fussion wrote:
And what happens when Red Bull and Mercedes pull the plug on the F1 operation? How does the sport manage itself then?
Who knows. But one solution (that I can think of) is a type of shares system. When you want to join F1, your entry fee essentially buys you shares. There's only so many shares and they're fixed. You can only sell the shares to practicing teams, when one team goes, the extra shares go back equally to the remaining teams. As above, you have to have an organisation to handle it. Let that handle all the rights, money, organisation etc - this way the teams dictate - not outsiders.
Would the above example work, I have no idea. You need smarter people than me to figure this out. But there is definitely a better way than what we have now.
What would you suggest?