Grade waves F1's chequered flag in favour of football

The ITV chairman made the commercial call to wave the chequered flag two years early on a £43million-a-year grand prix contract so that the cash-strapped network had the finances to secure the showcase Champions League package of first pick on Wednesday nights.

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The punt paid off last night when ITV retained Champions League football at a cost of £70m a year for 17 games, giving them an attractive live football portfolio, as well as England and FA Cup rights.

Grade had gambled on pulling out of Formula One — through a 'breakclause' in the contract — before the last Champions League tender had been decided so he could show UEFA accountants he had enough cash to win the fight for the best of European football.

The BBC claimed they had never put in a bid for live Champions League football, insisting they were interested only in highlights.

Formula One ringmaster Bernie Ecclestone wasted no time in agreeing a new £250m, five-year deal from 2009 with the Beeb.

They are delighted the sport is returning after a 12-year absence and see it as solid compensation for losing out on the Champions League.

In contrast, ITV's motor racing operation, who heard about their shock loss around midnight on Wednesday, were devastated at such a reverse only three days after being praised by the ITV high command for their Australian Grand Prix coverage and the promise of Lewis Hamilton challenging world champion Kimi Raikkonen for the title.

Neil Duncanson, whose North One Television production team have won a BAFTA award for their grand prix work last year, said: "I've been left with a devastated team. I've experienced a lot of weird and wonderful things during my 25 years in TV but this is the craziest of the lot. We've spent over a decade building up the coverage and trying to make Michael Schumacher popular.

"Now the sport is blessed with a major British superstar in Lewis Hamilton, who will be challenging for the world championship for years to come — and ITV pull the plug with ratings on the up. It just doesn't make sense. To cap it all, ITV boss Simon Shaps sent an email congratulating us on our work in Melbourne the day before."

Grade said: "I'm thrilled ITV is now the definitive home for all premium free-to-air football in this country. This is good news for ITV's shareholders, advertisers and viewers."

Last week ITV agreed a £3m deal for the online rights to the 2008 Formula One season. The depth of feeling within the production team has led to ITV head of sport Mark Sharman flying to Kuala Lumpur to explain the ramifications ahead of Sunday's Malaysian Grand Prix.

An ITV statement read: "This was a straightforward commercial decision and we are pleased Formula One will continue to be broadcast free-to-air. ITV will continue to broadcast live coverage of every race this season as Lewis Hamilton attempts to win his first world championship."

Dominic Coles, BBC's director of sports rights, said: "The biggest motor sport event in the world is returning home after 12 years. We were delighted when Bernie Ecclestone approached us about the return of F1 to the BBC. F1 is a crown jewel of sports broadcasting."

Ecclestone said: "The BBC has some innovative ideas to consolidate and expand our UK fan base."

The Beeb are planning a close relationship between their grand prix coverage and Top Gear — an idea reinforced by the ratings for Top Gear's recent programme featuring the popular Hamilton.

THE FAST SHOW

The arrival of Lewis Hamilton a year ago to challenge for the drivers' world championship was a boost to ITV's viewing figures.

The final grand prix in Brazil in October, which Hamilton needed to win to take the title, peaked at an audience of 10.6 million — the most watched race since 2000.

Last season's grands prix were watched by an average of 3.4 million viewers per race, a 41 per cent increase on 2006 and the best figure since 2001.