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The Formula One world is buzzing with reports that the Montreal
transport company could take over sponsorship of the BAR-Honda team
- piloted by another Quebec icon, Jacques Villeneuve.
The current BAR-Honda team owner, British American Tobacco, whose
investment in 1999 for the first three years was in the $400-million
range, is said to be looking at unloading the team. The cigarette
giant has reportedly hired investment bank Goldman Sachs to explore
a possible sale.
But Bombardier spokesman Dominique Dionne dismissed the reports
that her company is interested as "speculation."
"No one in a position to know here has heard of this,"
she said yesterday.
Teleglobe Pulled Out
Another well-known Montreal enterprise, Teleglobe, co-sponsored
the team featuring hometown boy Villeneuve as the lead driver, but
pulled out in the wake of a financial meltdown.
One analyst discounted the possibility, saying that the annual
costs of running an F-1 team would wipe out all the profits from the
company's entire recreational-products division - about $150 million
last year.
But it wouldn't be the first incursion into motor racing for
Bombardier.
This year, the firm bought the naming rights to the Indianapolis
Motor Speedway's landmark Pagoda control tower for five years in a
multimillion-dollar deal.
And the company will sponsor the Indy Racing League's $50,000
rookie-of-the-year award, as well as contribute to the Indianapolis
500 prize fund.
Raced Ski-Doos
Nor would it be the first Bombardier-Villeneuve association.
Gilles Villeneuve, Jacques's father, who died in a car crash 20
years ago, made his name racing Bombardier Ski-Doos in the 1970s
before graduating to car racing, where he eventually became a legend
driving for Ferrari, the sport's premium brand name.
The BAR team, powered by a Honda engine, has not made much
progress in its first three years of existence - its cars often fail
to finish a race - and has been in the points only a handful of
times.
Before the season started, Jacques Villeneuve's mentor, friend
and manager, Craig Pollock, was reportedly fired from the team.
Spokesmen at BAR-Honda and British American Tobacco could not be
reached for comment yesterday.
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