Friday, January 8, 2010

Renault F1 new team owners Genii Capital and Bernie Ecclestone going for Saab

Yeah, despite Bernie being in an age that makes all of us wonder why his still in F1, not only is he not stopping his activities but along with Genii Capital the company that bought about 70% of Renault F1 team are planing to buy the Swedish car company Saab from the hands of GM.

GM has been in a bad couple of years selling lots of there companies or at least trying to sell them. Saturn,Opel and Hummer along with Saab are some of the pieces that GM is trying to find buyers for.

GM already has an offer from the sports car maker Spyker(you probably remember them from there small presence in F1 3 years ago) but this is the second time Spyker tries to make an offer since they already failed to reach an agreement the first time. This means that Genii Capital and Bernie have a good chance of being s better alternative.

The interesting for the F1 side is that:

a)It shows that Ecclestone has a close cooperation with Genii Capital and probably his role on making them buy a big share of Renault F1 team is big. This way he managed to keep the Renault name in F1 for at least 2-3 years and avoiding losing another manufacturer.

b) Renault still makes the engines and owns the rest 25-30% and the rumors say that there is a good chance they will leave when the Concorde agreement expires. Are we to expect Genii Capital changing the name to Saab F1 team after 2012? This will make an interesting development.
I must admit of all the car manufacturers names i never expected to see a Saab F1 team.

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