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Offline PA

  • One man comedy gala

  • Joined: Jan 2008

  • Location: www.club-carbon.com
The calendar for the 2017 Formula 1 season.

 1    Imageasdfasdf   Australia                     Melbourne              26 March
 2    Imageasdfasdf   China                         Shanghai                9 April
 3    Imageasdfasdf   Bahrain                       Bahrain                 16 April
 4    Imageasdfasdf   Russia                        Sochi                    30 April
 5    Imageasdfasdf   Spain                         Barcelona               14 May
 6    Imageasdfasdf   Monaco                      Monte Carlo            28 May
 7    Imageasdfasdf   Canada                      Montreal                 11 June
 8    Imageasdfasdf   Azerbaijan                  Baku                      25 June
 9    Imageasdfasdf   Austria                      Spielberg                  9 July
10   Imageasdfasdf   Great Britain               Silverstone               16 July
11   Imageasdfasdf   Hungary                     Budapest                 30 July
12   Imageasdfasdf   Belgium                      Spa-Francorchamps   27 August
13   Imageasdfasdf   Italy                          Monza                     3 September
14   Imageasdfasdf   Singapore                   Singapore                 17 September
15   Imageasdfasdf   Malaysia                     Sepang                    1 October
16   Imageasdfasdf   Japan                         Suzuka                    8 October
17   Imageasdfasdf   United States              Austin                     22 October
18   Imageasdfasdf   Mexico                        Mexico City              29 October
19   Imageasdfasdf   Brazil                          Sao Paulo                12 November
20   Imageasdfasdf   United Arab Emirates     Abu Dhabi                26 November

I will post another topic when the tipping game opens.



Offline Condor Man

  • Is it a Bird?? Well, sort of, Yes.... 300kph+ club
  • Plastic Surgeon

  • Joined: May 2012

  • Drives: A car
  • Location: Melbourne
Good to know....

I am tossing up selling my F1 ride as I am not sure that I could arsed flying to Melbourne for the event.
May the Horse be with you....



Offline dkabab

I'll start the bidding.... 1 slab of VB



Offline Fil-Ski


  • Joined: Feb 2009

  • Drives: 993TT
  • Location: Adelaide
Good to know....

I am tossing up selling my F1 ride as I am not sure that I could arsed flying to Melbourne for the event.
Fly back in the private jet?



Offline mondi

  • Resident Bogan
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When's the tipping going to open????



Offline Condor Man

  • Is it a Bird?? Well, sort of, Yes.... 300kph+ club
  • Plastic Surgeon

  • Joined: May 2012

  • Drives: A car
  • Location: Melbourne



Offline PA

  • One man comedy gala

  • Joined: Jan 2008

  • Location: www.club-carbon.com
The tipping game should open around two weeks before Melbourne.

What's the ride in the Minardi worth Condor Man?



Offline Condor Man

  • Is it a Bird?? Well, sort of, Yes.... 300kph+ club
  • Plastic Surgeon

  • Joined: May 2012

  • Drives: A car
  • Location: Melbourne
The tipping game should open around two weeks before Melbourne.

What's the ride in the Minardi worth Condor Man?

I paid $20K for it.

With 2 tickets to the Paddock Club for 3 days.
May the Horse be with you....



Offline PA

  • One man comedy gala

  • Joined: Jan 2008

  • Location: www.club-carbon.com
Liberty Media Corporation and Delta Topco, the parent company of  Formula 1 announced today that Liberty Media has completed its  previously announced acquisition of F1, the iconic global motorsports  business, from a consortium of sellers. F1 has appointed Chase Carey as  Chief Executive Officer of F1, in addition to his existing role as  Chairman, and Bernie Ecclestone as Chairman Emeritus of F1. Bernie  Ecclestone, who has given valuable service to F1 over many years, will  be available as a source of advice for the board of F1.
                 
Greg Maffei, President and CEO of Liberty Media Corporation, commented:
“We are delighted to have completed the acquisition of F1 and that  Chase will lead this business as CEO. There is an enormous opportunity  to grow the sport, and we have every confidence that Chase, with his  abilities and experience, is the right person to achieve this. I’d like  to thank Bernie Ecclestone, who becomes Chairman Emeritus, for his  tremendous success in building this remarkable global sport.”

Chase Carey, Chairman and CEO of F1, said:
“I am excited to be taking on the additional role of CEO. F1 has huge  potential with multiple untapped opportunities. I have enjoyed hearing  from the fans, teams, FIA, promoters and sponsors on their ideas and  hopes for the sport. We will work with all of these partners to enhance  the racing experience and add new dimensions to the sport and we look  forward to sharing these plans overtime.

“I would like to recognise and thank Bernie for his leadership over  the decades. The sport is what it is today because of him and the  talented team of executives he has led, and he will always be part of  the F1 family. Bernie’s role as Chairman Emeritus befits his tremendous  contribution to the sport and I am grateful for his continued insight  and guidance as we build F1 for long-term success and the enjoyment of  all those involved.”

Bernie Ecclestone, Chairman Emeritus of F1, added:
“I’m proud of the business that I built over the last 40 years and  all that I have achieved with Formula 1, and would like to thank all of  the promoters, teams, sponsors and television companies that I have  worked with. I’m very pleased that the business has been acquired by  Liberty and that it intends to invest in the future of F1. I am sure  that Chase will execute his role in a way that will benefit the sport.”

The consideration for Liberty Media’s acquisition of 100% of the shares of F1(1)  was comprised of cash and newly issued Series C shares of the Liberty  Media Group tracking stock (“LMCK”) and a debt instrument exchangeable  into shares of LMCK. The transaction price represents an enterprise  value for F1 of $8.0 billion and an equity value of $4.4 billion(2).

With the completion of the acquisition, the Liberty Media Group will  shortly be renamed the Formula One Group and the ticker symbols for the  Series A, Series B and Series C Liberty Media Group tracking stocks will  be changed from LMC (A/B/K), respectively, to FWON (A/B/K),  respectively, soon after the group name change has become effective.  Liberty Media expects the group name change and the symbol change to  occur later this week. F1 will remain based in London and Greg Maffei  will be Deputy Chair of the board of F1.

The Selling Shareholders received a mix of consideration comprising:  $3.05 billion in cash, approximately 56 million newly issued shares of  LMCK and a $351 million exchangeable debt instrument to be issued by F1  and exchangeable into shares of LMCK. The cash component of the  acquisition was funded from cash on hand at the Liberty Media Group. The  newly issued LMCK shares are subject to market co-ordination and  lock-up agreements.

F1, along with $4.1 billion of existing F1 debt (which is non-recourse to Liberty Media) and $0.7 billion in F1 cash(3), is attributed to the Liberty Media Group tracking stock.

Concurrently with the consummation of the acquisition, certain third  party investors subscribed for $1.55 billion of newly issued shares of  LMCK at a price of $25.00 per share. The proceeds from this investment  were used to increase the cash portion of the aggregate consideration  payable to the Selling Shareholders. The third parties are Coatue  Management, L.L.C., D. E. Shaw Group, JANA Partners LLC, Ruane, Cunniff  & Goldfarb Inc., Soroban Capital Partners LP, SPO Advisory Corp.,  and Viking Global Investors LP (collectively the “Third Party  Investors”).

Also concurrently with the completion of the acquisition, Liberty  Media used the net proceeds of its previously announced cash convertible  senior notes offering to increase the cash consideration payable to the  Selling Shareholders by approximately $400 million for total cash  consideration of $3.05 billion and retain in treasury the approximately  19 million shares that would otherwise have been issuable to the Selling  Shareholders based on the per share purchase price of $21.26. These  LMCK shares will be reserved by Liberty for possible sale to the F1  teams. To the extent such shares are not sold to F1 teams within six  months following the closing of the F1 acquisition, the shares will be  retired.

The aggregate number of LMCK shares issued at the F1 closing was  allocated as follows: approximately 56 million to the Selling  Shareholders, 62 million to the third party investors and approximately  19 million into treasury. Following the completion of the acquisition,  there are approximately 217 million shares of LMCK common stock  outstanding (pro-forma for the dilutive impact of the $351 million LMCK  exchangeable security and excluding the aforementioned approximate 19  million shares retained in treasury). Following the completion of the F1  acquisition and the issuance of shares to the Third Party Investors  (excluding the potential issuance of those shares retained in treasury),  the Third Party Investors in the aggregate own approximately 29%(4)  of the Liberty Media Group’s outstanding equity and the Selling  Shareholders own approximately 33%(4) of the Liberty Media Group's  outstanding equity and have board representation at F1 to support  Liberty Media in continuing to develop the full potential of the sport.

Liberty Media's President and CEO, Greg Maffei and Formula 1's  Chairman and CEO, Chase Carey will be appearing on the CNBC television  program “Squawk Box” from 7:00 am ET to 9:00 am ET on Tuesday, January  24, 2017 to discuss the completion of the acquisition in more detail.  During their appearance, Mr. Maffei and Mr. Carey may make observations  regarding Liberty Media’s and Formula 1’s financial performance and  outlook and the impact of current economic trends.
 
 (1) Other than a nominal number of shares held by certain Formula 1 teams.
  (2) Calculated at time of transaction announcement.
  (3) Formula 1 cash and debt balances as of 7/31/2016.
  (4) Calculated based on the undiluted share count as of 12/31/2016 and  inclusive of the dilutive impact of the $351 million Exchangeable Notes.

   



Offline mondi

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