 Richards: Abramovich Will Not Come into F1 Saturday May 29th, 2004 By Alan Baldwin
"I have been told, from other quarters, that Abramovich will not be getting himself involved in Formula One for a variety of political reasons," Richards told Reuters at the European Grand Prix. Abramovich was a guest of Formula One supremo Bernie Ecclestone at the Monaco Grand Prix last Sunday, two of the richest men in the world walking together on the starting grid before the race. The Russian, who bought Chelsea last year, also attended the 2003 European Grand Prix as a guest of Minardi and there has been speculation about his intentions since then. Minardi boss Paul Stoddart suggested earlier that the Russian could get involved with a top team. "Will he come into Formula One? If he does it won't be at Minardi or Jordan," said Stoddart. "It'll be a front half of the grid position, I'm pretty sure of that. "Why would he not do that? There are one or two teams that are currently in the front half of the grid that I'm sure could be bought if you could get somebody who was of a mind to do so." Stoddart hinted that BAR - owned by tobacco giant BAT, with Honda engines and on-form Briton Jenson Button and Japan's Takuma Sato as their drivers - could be a candidate but Richards dismissed the suggestion. "As things improve at this team and as the team gets better, which it inevitably will do over the next couple of years, clearly now is not the time when BAT would be interested in selling at the bottom of the market when they've also got two more years of advertising to secure. "Their interest is stability in the team, making sure the team delivers now on the performance that it is looking for to earn the maximum amount of investment in the advertising, not just to sell the team for a quick buck," added Richards. Formula One is due to ditch tobacco money in 2006, although some have suggested that the involvement could continue after that point. Richards said that total ownership of a Formula One team by one individual was neither realistic nor desirable for a team nowadays. "I think a team needs stability through partnerships, with a car manufacturer or engine manufacturer, through stable relationships with corporate investors," he said. "My view is that public ownership of a team in terms of an IPO (initial public offering) is the more appropriate route to give that stability in the long term." Richards said any involvement by Abramovich would also pose problems with sponsorship. "The sponsors we are talking to now, the appeal to them is the style and the approach the team takes and the way we are going about things," he said.
Published at 18:52:00 GMT
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Chelsea's billionaire Russian owner Roman Abramovich is not about to buy into Formula One despite an interest in the sport, BAR boss David Richards said on Saturday.
(03-11-2005): 
