APRIL 11, 2002
Bombardier and BAR
The story sounds rather unlikely as David Richards is believed to have an option to buy the BAT shares and there is believed to be a deal with Richards for the next few years for BAT backing in Formula 1 and in the World Rally Championship. It is possible that Bombardier may be looking at sponsorship of the team but a sale of the team makes little sense at the moment. In order to make the sale attractive BAT would have to write off the debts associated with the team and this are currently enormous although they are guaranteed by BAT so they do not pose a threat to the team.
There may be some mischievous activity behind the story, with someone having leaked information trying to stir up trouble, although it has to be said that Bombardier has invested in sponsorship of the Pagoda at Indianapolis and as a sponsor of the Indy Racing League.