Originally Posted by saward

The best deal in F1 at the moment was highlighted by the Williams Grand Prix Holdings financial returns for the first six months of 2016. These look quite rosy with F1 producing a profit of $5.5 million, which the team explained was due to a “non-recurring sponsorship payment” which, so they say, is a $20 million deal made by the Stroll Family, in order to prepare Lance Stroll for F1 next year. He now has the points required for a super licence and his 18th birthday is coming up shortly. Between now and the end of the year he will do around 8,000 miles of testing at a string of circuits around the world, driving an unbranded 2014 Williams-Mercedes. The car, which is being set up for Stroll at each circuit by Gary Paffett, was spotted at the Hungaroring last week and this week will be in Austria. The schedule includes tracks all over the world and so one can speculate that he will be seen in action in Austin, Interlagos, Abu Dhabi, Bahrain, Malaysia and Suzuka.

With such a programme and the possibility of even more funding next year, if he races, one can imagine that Williams will name him as one of its drivers for next year, probably alongside Valtteri Bottas. While this sort of thing is not necessarily the best image for Williams, it does guarantee that the team will have money to get to through to the next financial discussions in F1 and is a better option that struggling for money with ace drivers but no budget for development.

Originally Posted by ft

Apple has approached McLaren Technology Group, the British supercar engineer and Formula One team owner, about a potential acquisition, in the clearest sign yet that the iPhone maker is seeking to transform the automotive industry.

The California technology group, which has been working on a self-driving electric vehicle for more than two years, is considering a full takeover of McLaren or a strategic investment, according to three people briefed on the negotiations who said talks started several months ago.

A tie-up with McLaren, whose expertise ranges from automotive engineering and on-board computer systems to novel chassis materials such as carbon fibre and aluminium, could accelerate Apple’s secretive automotive project. Apple and McLaren declined to comment.

The lossmaking automotive group was likely to be valued at between £1bn and £1.5bn, the people said, adding that it was not clear a deal would be done.That would make it Apple’s biggest acquisition since the $3bn purchase of Beats Electronics, the audio group founded by Dr Dre and Jimmy Iovine, in 2014.

Earlier this year, Apple invested $1bn in Didi Chuxing, the Chinese ride-hailing company. That deal was Apple’s largest equity investment to date, as chief executive Tim Cook gradually breaks with the Silicon Valley company’s longstanding aversion to large deals.McLaren produces luxury sports cars that can cost as much as $1m apiece and owns an advanced technologies group, as well as the eponymous Formula One racing team. The owners of McLaren Technology control 80 per cent of McLaren Automotive. It produced 1,654 vehicles last year, generating revenues of £450m, and has pledged to invest £1bn in the next six years on research and development.McLaren Technology reported revenues of £265m and pre-tax losses of £22.6m in 2014, its last published accounts. It is owned by Ron Dennis, its chairman, Mansour Ojjeh, and Mumtalakat, Bahrain's sovereign wealth fund.

Apple’s interest in the Woking-based company centres on its technology, engineering prowess and patent portfolio, according to people briefed on the talks. However, those people cautioned that it was unclear if a deal would go ahead following a recent shift in Apple’s car strategy.

Since 2014, Apple has built up a team of hundreds of engineers and designers to work on the electric car venture, including recruits from companies such as Tesla and Mercedes-Benz. Its original team leader, Steve Zadesky, left earlier this year, and Apple veteran Bob Mansfield took over the project.

In recent weeks, dozens of employees have departed, people familiar with the changes have said, as Mr Mansfield refocuses Apple’s efforts on the underlying systems that would power a self-driving car rather than building an electrical vehicle itself.

Despite recent reports of those changes, some Apple analysts have questioned whether the company would depart from its traditional strategy of controlling both the hardware and software in its products.

Some investors have hoped that Apple would make a move on Tesla, the Silicon Valley electric carmaker led by Elon Musk. At its annual meeting last year, Apple shareholders peppered Mr Cook with questions about whether he planned to acquire Tesla, which he carefully sidestepped.

Mr Cook has never publicly acknowledged Apple’s automotive project, but many of its top executives are car enthusiasts. Phil Schiller, Apple’s marketing chief, is said to own a McLaren, and Eddy Cue, its services head, sits on the board of Ferrari, while top designer Sir Jonathan Ive has expressed his fondness for Bentleys and Aston Martins.

Originally Posted by falcongsr

1:43?

Originally Posted by ...esteban

that @tingtim wood buy a JV car is lulz. Full lulz.

Originally Posted by ...esteban

that @tingtim wood buy a JV car is lulz. Full lulz.