Wednesday, 8 July 2009

How To Upset Your Main Sponsor

bernie ecclestone

When a sponsor comes forward who is willing to plough cash into your business it is traditional to take care of them. Corporate lunches, freebies etc etc.

So, when CVC, a Jewish investment Corporation, began their multi million pound sponsorship of Formula One I was expecting the usual.

Since CVC began their sponsorship though, Max Mosely who is one of the most senior men within the sport has been caught playing Nazi bondage games with a few hookers at his Surrey mansion and Bernie Ecclestone, the guru of Formula One, has now been praising Hitler for the way "he got things done".

His comments, in a newspaper interview, were a huge embarrassment to CVC, which invests money on behalf of Jewish funds. Sir Trevor Chinn, one of Britain's most prominent Jewish businessmen, is a senior adviser to CVC.

CVC took a controlling stake in F1 in 2006 when it bought Mr Ecclestone's family shareholding for a reported $1bn (£610m).

The affair is the latest scandal to engulf F1, with racing teams threatening to break away from the governing body recently.

Zak Brown, chief executive of motor sports agency JM, which represents the largest group of sponsors in the sport, said F1 was no stranger to controversy, but that when it came to matters of ethics the industry now needed to "clean itself up".

"Bernie often says things with shock value and an apology was needed. It has definitely made the news in the US," said Mr Brown who is working on sponsorship deals to take F1 to the US by 2011.

Nice one Bernie.

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