Fry’s play for Honda F1 upsets bidders

Fry 290
As we learned last week, it seems that Honda F1 CEO Nick Fry has vetted 30 or so offers and narrowed it to 12 real potential buyers of the Brackley-based F1 team. What he failed to mention is that he is one of the 12! This has created some dissatisfaction among the other legitimate bidders according to the Daily Telegraph:

Fry’s own involvement only came to light when various bidders – including the Greek shipping tycoon Achilleas Kallakis – expressed dissatisfaction with elements of the process.

They reportedly became frustrated at the lukewarm reception to what they felt to be well-financed offers. Disheartened at the lack of progress they were told, on further inquiry, of Fry’s attempt at a management buy-out. Fry did not return calls to comment on this speculation yesterday.

So Nick is working all angles and while one could conclude he is orchestrating yet another odd situation at the Honda F1 HQ; can you blame him? Certainly he knows that these opportunities don’t come along very often and would like his chance to be the next Ron Dennis. But he also had better make sure his offer is good and what is best for BBF1 lest he scare all other suitors away out of his personal ambition versus the teams need.

Nick is no doubt looking at every possibility including his own so as a CEO, you want him turning over every stone to keep the team going. Can’t fault him for that but the other bidders are fully justified in feeling that they are being played a bit in this whole goose hunt.

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