What rights did they give back? I haven’t the time to scour for F1 news, so I haven’t seen anything on this.
I don’t think they actually gave any rights back. My understanding is that the new deal greatly reduces the cost of holding the race, removes (or lessens) the 7% escalator that means circuits have to pay increasing amounts every year, and possibly has a provision that means the organisers get all the profits (previously, they had to pay 10% of any profit they made to FOM).
To put it quite literally, none of the decisions about Korea make and sense at all, unless there else going o that we don’t know about – and I have a theory about that.
Wouldn’t be surprised if this info was a “plant” to put fire under CAVO’s feet to get their act together.
Then it’s one hell of a deception – Cristinia Fernandez de Kirchner, the President of Argentina, was the person who announced that Argentina would be rejoining the calendar. I can’t imagine that the elected leader of a country would be party to Bernie trying to get organisers in another country on the other side of the world to start playing ball.
No, from what I’ve heard, the announcement was an attempt by de Kirchner to distract the country from the fragile state of its economy, amid speculation that Argentina could be in recession by the end of the year.
Of course, Bernie might be the authority on the calendar, but that doesn’t mean he is always a reliable source. He says what he wants when he wants to say it, and it’s usually for a reason. Just yesterday he said that Singapore have agreed to a new deal, only for the Singaporeans to deny it hours later. It’s entirely possible that there is a contract for a race in Argentina, and Bernie is simply playing the misdirection card until the calendar is finally announced.