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Coventina Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-05-08 11:24 AM
Original message
Honda Pulls Out of Formula One Racing
http://www.nytimes.com/2008/12/06/sports/othersports/06...

HONG KONG Honda announced on Friday that it would withdraw from Formula One, a startling pullout that has its origins in the dismal state of the auto industry and which could have serious repercussions on the high-profile racing circuit.

A glum Takeo Fukui, the chief executive officer of Honda, made the announcement at a news conference in Tokyo.

He called the companys withdrawal from the series a difficult decision caused by the worldwide economic gloom and the quickly deteriorating operating environment facing the global auto industry.

(snip)

The governing body for Formula One racing said in a statement Friday that the sports finances were in an already critical situation.

**********************

I could be really mean and say something like:

"Really? I thought Honda pulled out of F1 racing two seasons ago!"
*rim shot*

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amdezurik Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-05-08 11:28 AM
Response to Original message
1. See!!! We'uns told yas Obama hates NASCAR!
Wait for that to turn up on freeperville LOL!
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Coventina Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-05-08 11:31 AM
Response to Reply #1
3. I rather doubt that there are many F1 fans in Freeperville
After all, it's a sport followed by few Americans & few Americans are involved in it.
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Romulox Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-05-08 11:30 AM
Response to Original message
2. Why can't Honda make F1 cars that people want??? nt
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phantom power Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-05-08 11:31 AM
Response to Original message
4. I'm kind of surprised.
I had assumed that the publicity was well worth the expense.
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Blue_Tires Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-05-08 11:35 AM
Response to Reply #4
7. it isn't when the car is a competitive joke -- see Jaguar
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hoplophile Donating Member (72 posts) Send PM | Profile | Ignore Fri Dec-05-08 11:34 AM
Response to Original message
5. That's a shame. A lot of innovative new car tech starts in racing.
Real bummer.
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Blue_Tires Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-05-08 11:34 AM
Response to Original message
6. yeah, Honda this time around has been a dog in F1
and the cost is significant, especially with season budgets well over $100 million for most teams...

I'm surprised the big 3 haven't pulled out of NECKcar yet...At least it can be argued that competing in F1 can help develop trickle-down technologies for their commercial products -- NASCAR produces nothing tangible other than visibility
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Ikonoklast Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-05-08 11:46 AM
Response to Reply #6
10. Dodge has already said they were done, GM is next
NASCAR is in a very precarious state right now; a lot of the heavy hitters in advertising have already either scaled back, pulled out completely, or are re-negotiating sponsorship deals.

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Blue_Tires Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-05-08 12:35 PM
Response to Reply #10
16. it became a spec series a long time ago, anyways....
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Ikonoklast Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-05-08 12:43 PM
Response to Reply #16
17. I remember the manufacturer wars
Those were the days.
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Tandalayo_Scheisskopf Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-05-08 11:42 AM
Response to Original message
8. One F1 team costs $100 million to field.
Edited on Fri Dec-05-08 11:43 AM by Tandalayo_Scheisskop
NASCAR budgets are not too far off from that. One little 12x8 decal on a quarter panel on a NASCAR costs, at times, $100K. Per race.

I got those numbers from a well-known figure in Motorsports Marketing.

The F1 numbers do not include engine development costs by the manufacturers.

It's a hella expensive sport.

On edit: Sponsorship of an NHRA pro team is around $2.5 Million a year. Might be a little more in Pro Stock.
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Coventina Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-05-08 11:45 AM
Response to Reply #8
9. Ferrari's budget is around $700 million IIRC
It's a ridiculously expensive sport. But they are at the cutting edge of automotive science & technology. I'm not saying that justifies it, but I'm told there are a lot of "real life" applications for the things they develop.
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Tandalayo_Scheisskopf Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-05-08 11:48 AM
Response to Reply #9
11. Yes, but...
It's damned hard to justify those numbers in these times.

I was wondering the other day: There is still a lot of money out there. Where is it? I figure it is being hoarded by a few.
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Coventina Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-05-08 11:52 AM
Response to Reply #11
13. No, I agree completely. And in the case of a sport like F1,
I really think the "invisible hand of the market" will indeed "correct" the sport to a large extent. I predict big changes, if the sport survives at all.

For one thing, I expect drivers' salaries to take a hit. How can they keep affording to pay losing drivers sums like $25 million a year?
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Tandalayo_Scheisskopf Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-05-08 12:00 PM
Response to Reply #13
15. You cannot.
And thinking that you can is pretty nuts.

I know the NHRA financial metrics fairly well. I have just heard stories from informed others. I find numbers like the above rather breath-taking.
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gogoplata Donating Member (226 posts) Send PM | Profile | Ignore Fri Dec-05-08 11:50 AM
Response to Original message
12. God, I wish they could bring back CART.
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Coventina Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-05-08 11:53 AM
Response to Reply #12
14. Yeah, I was probably one of the few people unhappy about that merger.
But, from what I was told, they were about to go bankrupt, so they didn't have much of a choice.
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StreetKnowledge Donating Member (921 posts) Send PM | Profile | Ignore Fri Dec-05-08 01:14 PM
Response to Reply #14
25. More like CART's buyer didn't have the gutrs to continue.
Kevin Kalkhoven is a slimebag, pure and simple.

As for the merger, I didn't like it either, but at least I got to see Graham Rahal and Justin Wilson smoke the Indycar guys. :woohoo: That helped ease the pain a bit.
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Coventina Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-05-08 01:32 PM
Response to Reply #25
27. Another Justin Wilson fan!
Right on!

:pals:
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MarkInCA Donating Member (403 posts) Send PM | Profile | Ignore Fri Dec-05-08 12:45 PM
Response to Reply #12
18. I wish they'd go back to slicks in F1
Also traction control. It was more entertaining when the were going a million MPH on corners.
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bullwinkle428 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-05-08 12:54 PM
Response to Reply #18
20. They are going to slick treads in '09, for the same reason that
traction control was eliminated - they want to make it more of "true driver's championship", where the driver's skill is paramount.
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MarkInCA Donating Member (403 posts) Send PM | Profile | Ignore Fri Dec-05-08 12:57 PM
Response to Reply #20
22. That's good news
I find that F1 is so much more entertaining, but at the same time I wonder how they can maintain the massive cost of producing/testing those electronic marvels.
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bullwinkle428 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-05-08 01:12 PM
Response to Reply #22
24. There's now some talk about Cosworth supplying a "spec engine"
for the series in 2010 as another way of containing costs:

http://www.planet-f1.com/story/0,18954,3213_4591276,00....

I agree on the level of entertainment - I've been following F1 very closely for over 30 years, and the last two seasons have been absolutely magnificent in terms of spectator value!
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Lugnut Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-05-08 12:47 PM
Response to Reply #12
19. I'm a NASCAR fan but
I liked to watch CART. I'm still a huge Alex Zanardi fan.
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MarkInCA Donating Member (403 posts) Send PM | Profile | Ignore Fri Dec-05-08 01:00 PM
Response to Reply #19
23. His crash was painful to watch
Edited on Fri Dec-05-08 01:00 PM by MarkInCA
He was one of my favorites. I didn't expect him to live. If it wasn't for the great safety teams he wouldn't have.
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Lugnut Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Dec-07-08 10:13 AM
Response to Reply #23
29. He almost didn't make it.
If you haven't already done so you might want to read his book, My Sweetest Victory. It was a very good read for a Zanardi fan.
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bullwinkle428 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-05-08 12:56 PM
Response to Original message
21. "Three interested buyers (for team Honda) already!"
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T_i_B Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-05-08 01:14 PM
Response to Original message
26. there was a discussion about this at work today
Edited on Fri Dec-05-08 01:14 PM by Thankfully_in_Britai
The feeling being that if Lotus have the funds it could be well worth them having a pop and getting back into F1.

The big problem here is having the funds. F1 is hugely expensive.
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Blue_Tires Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Dec-06-08 01:36 AM
Response to Original message
28. also related: 9X Champion Audi pulls out of ALMS
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