A1GP » Series in doubt after liquidation?

A1GP » Series in doubt after liquidation?

Here:

Series in doubt after liquidation?

Here:

Series in doubt after liquidation?

RECOMMENDED COMMENT

RECOMMENDED COMMENT

SPONSORED RELATED SEARCHES

MOTORSPORT

INTERACTIVE

SERVICES


NewsPicsWeb	SEARCH

REGISTER | LOG-IN

HOME F1 MOTOGP CARS BIKES PICTURES GRID GIRLS VIDEO

F1 | WRC | INDYCAR | GP2 | BTCC | WTCC | DTM | SPORTSCARS | F3 | A1GP | NASCAR | RENAULT WS | V8 | RALLY UK

»

629 agree. 515 disagree.

I'm owed money by this Sh*T someone on this site lovingly calls "MR Texiera" Do you pro Sh*t lobby really think the series can go on. This season's winning team has dissbanded with no prize money , New Zealand has dissbanded pulled out, Lebenon who paid their bills has pulled out with all the team layed off. France are about to call it a day along with South Africa, "Mr Texiera" has no staff left. The Silverstone facility is abandond, the London office only has a lawyer in it. "Mr Texiera" has no race cars and no equipment, a creditor is holding them against a huge debt, including innocent mechanics own personel gear. We are all dreaming if we think any money will come from these people

Posted by A1insider - Unregistered (147 days ago)

Latest financial blow casts shadow over 2009-10 plans.

» Read The Full Story

Add Comment

3 agree. 1 disagrees.

Again, the main problem in the UK is the tv coverage is on Sky. This broadcaster is very good at football, but not at any other sport. Motorsport just dies on on Sky, because whether we like it or not, apart from F1 it is a minority tv sport - that's why Dorna tried so hard to persuade the BBC to cover MotoGP, because the audience is on terrestial tv, even bowing to the BBC's demand that the live coverage be taken away from satellite based Eurosport. A1GP needed mainstream terrestial coverage to take off. It may have got a big money deal from Sky to start with, but it just doesn't get the public exposure tucked away on satellite tv.

Posted by Paul Buckland - Unregistered (149 days ago)

6 agree. 1 disagrees.

As I understand it only A1GP operations is subject to the winding up order and A1GP as an offshore company still intends to run next year.

If that is the case Steve Middleton and his company will have deprived other creditors of the opportunity of recovering their outstanding debts by winding up the operations side which has few assets.

Far from being the hero of Motorsport suppliers a lot of companies will be realy P***ed with him, as he says a lot of the other creditors are owed much more than he is.

Posted by Hemingways - Unregistered (148 days ago)

3 agree.

I agree that marketing- and publicitywise the series leaves a lot to be desired. Then again, it's run by the same people who run a mining company, so I think that is where the problems start.

Add to that the total lack of official merchandise (which could have made them some money), the bad luck of Danica Patrick NOT driving for them (their main reason probably to switch to Andretti Green racing), the total unwillingness of some of the seatholders to promote the series in their country and some teams simply not happening at the time being and you are starting to create a monster.

This can be corrected though: accept any decent offer from 'free to air' tv broadcasters, (cont.)

Posted by Richard Renes - Unregistered (148 days ago)

2 agree.

Replace some of the seatholders by more enthousiastic people, replace some of the staff by people who actually know the world of motorsports a bit and give us merchandise please.. would have been cheaper to make than car parts, but they would deliver money, easying the cashflow problems a bit

Posted by Richard Renes - Unregistered (148 days ago)

16 agree. 16 disagree.

As with your comment from Hemingways, Motorsport is a risk industry, many companies have suffered due to F1 downsizeing, look at the fall out from Honda. A1 has been funded for 4 years and in that time a lot of people have held their hands out time after time for money, now its tight every one is up in arms. Today you cannot even get a loan from your bank so imagine what its like organising finance for a $100m series.
All Mr Middleton did was ensure that he stuffed those of us who believe in the series and the fact that Mr Texiera is working hard to continue it.
If he had a barrister I am sure he will of cost a lot, better have 50% of something rather than 100% of nothing which he now has.

Posted by jean marc callian - Unregistered (148 days ago)

I think you may find that Steve Middleton is trading as Shakespeare Engineering & Components, if you have any doubts about your cashflow it may be best to avoid him, you may find your company being wound up if you fall behind with payments.

Posted by no name - Unregistered (148 days ago)

Raw,

I know that saying because I've experienced it more or less over my forty plus years in the game. Doesn't stop me from trying, though.

I have a professional website that expresses my views on this business.

Gil Bouffard

Posted by Gil Bouffard (148 days ago)

8 agree. 2 disagree.

I have been in professional motor racing for my entire professional life. I was always willing to dedicate endless hours of work to struggling companies, at times working for more than 2 years without pay. I am one of the creditors of A1GP and I am confident that their debts will be paid. At least to those who are not feeding the attorneys and making things worse for everyone else. In a fire, usually more people get killed by the panic than by the flames.

Posted by Fernando Paiva - Unregistered (147 days ago)

6 agree.

Some interesting comments from everyone..
Well I don't think I rushed into winding them up as the invoices are from August last year and they had plenty of warning.
If I hadn't done it 30 mins after my hearing the next one would, then the other six barristers with mine would of done the same.
If they hadn't promised on numerous occasions that the money was being paid "in the next 3 days" I might of thought different....that went on for six months.
What am I supposed to pay my guys, my suppliers, my finance people with?
We have supplied parts to F1 for well over a decade, we have an idea of what we are doing. Good customers work with their suppliers, that attitude equals winning races.

Posted by Steve Middleton - Unregistered (147 days ago)

9 agree. 6 disagree.

Steve Middleton , You are totally justified in protecting your self and your workforce.
As to
Fernando Paiva, I think you are being optimistic thinking you will be paid by these fly by night "traders" if you are owed money you are in a long line with many who are out of millions of $ many many millions of $, they have no cars they have been siezed by a creditor, and while you wait for your money to come just think of the way these "traders" lived around the world at the expense of others very nicely.
How can this series see the light of day when horror stories appear every day. What new sponsors would trust $5 with them let alone the millions that would be needed to carry on.

Posted by Twatter - Unregistered (147 days ago)

Page 2 of 54

« ‹ 1 2 3 4 5 6 7 8 9 10 11 › »

List Topics

Add Comment

Although the administrators and moderators of this website will attempt to keep all objectionable comments off these pages, it is impossible for us to review all messages. All messages express the views of the poster, and neither Crash Media Group nor Crash.Net will be held responsible for the content of any message. We do not vouch for or warrant the accuracy, completeness or usefulness of any message, and are not responsible for the contents of any message. If you find a message objectionable, please contact us using the [Report Abuse] function next to the offending comment post. Any message that does not conform with the policy of this service will be edited or removed with immediate effect. Crash Media Group prohibits defamatory posts.

^ Skip to Top

Car Insurance	A1GP Tickets
Car Hire	Car Parts
Cars For Sale	Loans
Used Cars

MOTORSPORT

F1

NASCAR

WRC

WTCC

Indycar

GP2

Renault WS

Sportscars

F3

DTM

BTCC

V8 Supercars

A1GP

Rally UK

MotoGP

WSBK

BSB

Moto-X

INTERACTIVE

Audio

Podcasts

Have Your Say

Polls

RSS Newsfeeds

Make Homepage

Contact Us

Jobs

Free Screensavers

Official Links

Unofficial Links

Race Cars for Sale

SERVICES

Motorbike Insurance

Bike Insurance

Motoring Experiences

Motorcycling Experiences

Loans