 | Home > Off Topic > America’s Cup: Land Rover BAR Close to Collapse |
 
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| Supacat Member Since: 16 Oct 2012 Location: West Yorkshire Posts: 11018   
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Portsmouth, UK (1 April 2016) – Following on from the UK Government’s £9m injection of public cash into the building of the Land Rover BAR base in Portsmouth, and high profile support from the mastermind of the Olympic Games in Britain, Sir Keith Mills, the British America’s Cup challenger is struggling for survival and reportedly has only days left as a going concern. Investment banks, private equity, and local developers are said to be eyeing the landmark property on the famous Camber in Old Portsmouth and are hoping to jump in ahead of official receivers being called and a fire-sale of assets. “It’s a complete mess,” said an insider. “From day one the project has overspent and the rumours are that the build cost of the base alone has run to in excess of £20m.” Problems are believed to have started at the design process where a relatively simple base and structure suddenly ballooned into a project where special interest dominated. “Everyone from environmentalists to the local council chipped in and then the team’s demands were off the scale. It is typical Keith Mills,” said the insider. “The ambition simply didn’t meet the cash on deposit and now the project is woefully over-spent and unlike the Olympic Games, there is no more Government or local funding to bail it out. Mills is a brilliant spender of other people’s money.” On-the-water, it’s not much better according to sources, with the boat’s second boat (T2) being scrapped, a design team in total disarray following several high-profile sackings (Jason Ker, the mercurial British designer, being the most notable) and rumours of in-team fighting. “The thing is, Ben is a single-handed sailor, and running a team just isn’t his thing. Add in Martin Whitmarsh to the equation and you have two heads of the business that don’t have an inspirational bone in their body.” Whitmarsh was another high-profile hire being brought in after being unceremoniously dumped by the British Formula One Team, Mclaren, following a string of disastrous results. “He’s done it again at BAR,” said the insider. “The team have hared off down design routes that are just crazy and there are no wise, experienced heads telling people to stop.” As plucky British challengers for the Cup go, the Land Rover BAR Team joins, it would seem, the illustrious list of the likes of White Crusader, Blue Arrow, and the Peter Harrison GBR Challenge in 2003. With just days left, a cash injection is desperately needed but all approaches have been rejected by the UK’s billionaire and investment community. “It’s looking like they will have to approach Larry Ellison for a bail-out,” said the insider. “Or worse still, accept the offer from Franck Cammas to join forces with the Groupama French Team.” An Anglo-French team in the Cup – you couldn’t make it up. - See more at: http://www.sailingscuttlebutt.com/2016/04/...f2fJt.dpuf Tags: April Fools - seems an odd story if it's only a joke? |
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1st Apr 2016 7:34am |
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| Grenadier Member Since: 23 Jul 2014 Location: The foot of Mont Blanc... Posts: 5878  
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On paper this does seem like an overly ambitious and somewhat naive venture. Ben Ainsley, as excellent as he is, comes across as someone who is driven but as an individual not within a team set up such as this. Surely that is vital to get the best from the design team, management and the crew? As far as Whitmarsh's appointment was concerned, I don't think I would be the only F1 outsider to think that whilst he might be a very nice (as seen in interviews) and very bright (you don't get to the top of F1 by being dim) guy, he does not posses a leadership bone in his body. Great as a wing man under Dennis, but the moment he took over, Maclaren's woes began. At the same time look at the drive of Horner in the same period. Whitmarsh was 'unceremoniously dumped' because he didn't lead Maclaren, instead let it wallow in mediocrity. How on earth he would get the best out of LR BAR is beyond me, unless it was behind the scenes.... Monsieur Le Grenadier
I've not been everywhere, but it's on my list..... 2011 Puma 110DC - Corris Grey |
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1st Apr 2016 8:39am |
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| Supacat Member Since: 16 Oct 2012 Location: West Yorkshire Posts: 11018
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Thread drift but McLaren aren't doing a lot better under Ron's second stint...
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1st Apr 2016 9:46am |
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| Grenadier Member Since: 23 Jul 2014 Location: The foot of Mont Blanc... Posts: 5878
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Agreed, but a slow slide will take a couple of seasons to rectify. Not to mention Honda have a huge part to blame with their engine being two seasons behind the others. I think both Jenson and Fernando (first name terms, me) say the chassis and aero package is better this year, quite a change in a season. Who knows really, lots of disinformation as is the way of the F1 Paddock... Monsieur Le Grenadier
I've not been everywhere, but it's on my list..... 2011 Puma 110DC - Corris Grey |
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1st Apr 2016 10:06am |
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