P Diddy planning to buy a Formula 1 team

[Bartek S.]

After a diner where he launched his latest perfume, the rapper P.Diddy made the announcement to the guests that he is thinking seriously to buy a Formula 1 team.This announce was made after he spent almost all evening talking with the big surprise of the season, the British Lewis Hamilton.
The dinner was at Fifty on St James’s Street. According to the restaurant’s PR, it cost £150,000, with £100,000 spent on champagne alone.

Of course, if he plans to buy a team let’s hope he knows that the cars must not be pimped, in the hip-hop style, with 22″ rims and other “bling bling”.
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[Centurion]

Oh snap. It seem like Hamilton is getting a nice set of friends. My eyes almost fell out when I saw Pharell Williams sitting beside Hamilton's father in the pit at Indi500, and now Diddy is showing him love. Damn. He certainly can't afford to buy one of the bigger teams but Spyker seem to be the team which needs cash.


It's bad boy!!
Can't stop
.....Won't stop!
*Doing the Harlem shake*

 

[EnI]

Oh ...

I can imagine a BLNG-BLING "Diddy F1 Team" car already.

And I guess instead of mechanics the pit will be full of hot chicks in hot short pants & tight T-shirts, servicing the cars.

A welcome novelty in F1 circus.

 

[LaArtist]

lol.. go get em diddy..
but you will loose money.. and be nowhere near a podium finish EVER..
but sure go get em

 

[Monster]

P Diddy is a smart business man but i do not think he has the skills to deal with an F1 team, let alone being successful. I would like to see Ron Dennis and P Diddy having a conversation. that will be quite funny.

 

[450SEL6.9]

Does he have deep enough pockets for a team? I don't want to see any new teams or new owners in F1.

Anyone thinking of buying a team should remember the following:
Question: How can you make a small fortune from F1?
Answer (from a former F1 team owner): You start with a larger one!

 

[Centurion]

Does he have deep enough pockets for a team? I don't want to see any new teams or new owners in F1.

Anyone thinking of buying a team should remember the following:
Question: How can you make a small fortune from F1?
Answer (from a former F1 team owner): You start with a larger one!

He's worth close to 500 million dollars. F1 doesn't seem like a very profitable sport unless you are willing to spend it big, and his dollars aren't worth much here in Europe as they are in US.

 

[450SEL6.9]

Is he worth $500 million? None of his businesses are publicly-held so it's tough for any magazine to estimate the value of his assets and deduct his liabilities. I wouldn't be surprised if he has $500 million in assets, but a half-billion net worth seems a little on the generous side. In general, I think celebrity fortunes are overstated because the magazines who rate their wealth will probably sell more copies if they produce a higher number. Even celebs pay tax and have liabilities and they spend massively. When OJ was wrongfully accused of murder, his fortune was estimated by media to be $50 million. I think it was closer to $10 million according to court records. When Harrison Ford was divorced, I read about a $400-500 million fortune, but it was probably like $200 million.

Anyway, I think for an individual to own a new F1 team, he probably needs to make a Chelsea-sized investment to quickly make it competitively. Mclaren and Williams aren't owned by mega-rich billionaires, but they developed their business and sponsorship portfolio/strategy over a few decades.

 

[Imhotep Evil]

But Williams is now a midfield team by budget estimates. They were no longer interesting, for sponsors, after the split with BMW.

 

[Poverty]

If he is indeed serious I really doubt that he would be using all of his own money here guys. Hes a clever business man remember, and rule nmber 1 when it comes to big business is dont risk your own personal wealth