Oct.16 (GMM) The former head of the defunct Russian GP says life under Bernie Ecclestone’s management was far more flexible than under Formula 1’s current owners, Liberty Media.
Alexey Titov, who ran the Sochi race as CEO of promoter Rosgonki, made the comments during a conversation with veteran F1 commentator Alexey Popov on First & Red, a Russian motorsport program distributed via VKontakte.
Reflecting on the original contract for the Sochi race, first signed in 2010 with Vladimir Putin’s support, Titov described Ecclestone as a shrewd but pragmatic negotiator.
“Bernie didn’t become the king of motorsport for nothing,” Titov said. “He knows his business very well. When I read the first signed contract, I thought – that’s Bernie.”
Popov asked whether the hosting fee rose by 10 percent annually, as had long been rumoured as standard. Titov replied that while that was the standard clause, Ecclestone was always open to renegotiation.
“You’d hold the first grand prix and say, ‘Bernie, what 10 percent? Let’s make it 1 percent. What’s your inflation rate – 0.5 percent? Let’s make it 0.55.'” Titov said.
“That was the whole point – you could talk to Bernie,” he added. “This was the conceptual difference between working with Bernie and working with Liberty Media. Bernie wasn’t a corporation. It was his brainchild, and he did with it as he pleased.”
Rosgonki is still seeking reimbursement for the cancelled 2022 Russian GP, which was dropped from the calendar following the outbreak of the war in Ukraine.
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