OCTOBER 15, 2004
Brand Synergy searches for credibility
Brand Synergy, the consortium which is supposed to be bidding for the rights to hold the British GP, has not given up, despite having been largely written-off by Formula 1 observers. The latest bright idea being put forward is for the BRDC and Brand Synergy to join forces to create a new company which would run the event. The BRDC is unlikely to take the suggestion very seriously as at the meeting between the parties recently Brand Synergy put forward nothing to excite the BRDC executives.
The underlying problem is one of money as running the British GP at Silverstone in the course of the next few years will require at least $200m and with sums like that any investor will want guarantees which the Formula One group cannot give because there is no long term deal for the sport and a possibility that FOM will be left with nothing to sell in 2008, if a rival series is launched.
Even if there were guarantees beyond 2007, there is little likelihood that anyone would get involved unless a longer term deal could be agreed, in order to justify the money involved.
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