It’s been an interesting week for news, with the Buemi announcement, Donington getting its planning permission, FOTA making further cost savings and more on the Honda buyout. Here is my take on the week’s news digest.
Donington was granted planning permission to gear up for hosting the Grand Prix is 2010. This was the stage at which the Brands Hatch bid failed a few years back, so Simon Gillett and his team have done well to overcome that hurdle but many are still sceptical about the viability of this project. Ron Dennis voiced his concerns this week saying that the pound’s depreciation against the dollar will make the contract 25% more expensive for a start. He is also doubtful about the debenture scheme. I mentioned in an earlier blog that Gillet told me in December that the debenture funding was in place through Goldman Sachs and IMG.
Dennis’ voice is a significant one, but you also have to remember that he is a lifetime Guardian of Silverstone, along with Frank Williams, appointments the BRDC put in place a few years back to ensure that there would be protection against the track being sold in the future. So Ron does have a vested interest in this story.
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