Administrator Stan Posted July 22, 2019 Administrator Posted July 22, 2019 https://www.bbc.co.uk/sport/formula1/49070675 Quote Daniel Ricciardo is facing a claim of more than £10m in alleged unpaid earnings from his former manager. Glenn Beavis has filed a lawsuit in the High Court in London claiming that Ricciardo has not paid him commissions owed on his new contract with Renault. Ricciardo left Red Bull at the end of last season to join the French team. Ricciardo's lawyer, Jeremy Courtenay-Stamp of Ebury Partnership, said there was "no merit" in the claim and added: "We are going to defend it fully." Legal documents lodged by Beavis' lawyer at the High Court and seen by BBC Sport make a claim for "in excess of £10m" for "various sums due in accordance with the commission agreed between the parties". Ricciardo's salary and bonuses included within his two-year contract are listed in the court documents but have been redacted from those publicly available via the High Court website. But the details of the claim suggest the 30-year-old Australian's Renault salary is more than £20m. The first defendant is Whitedunes International Holdings Limited, a British Virgin Islands company wholly owned by Ricciardo, who is the second defendant. Beavis' claim is that he had an agreement with Ricciardo that saw him earn "20% commission on the value of all new deals (he) introduced and which were subsequently concluded". He claims he started negotiations on Ricciardo's behalf with Renault Sport managing director Cyril Abiteboul in mid-2017, which continued into 2018 before heads of agreement were agreed on 2 August 2018. Beavis' lawsuit says Ricciardo told him on 15 December 2018 that he wanted to terminate their agreement but it was agreed that Beavis continue because "there were various outstanding matters to be dealt with first, including negotiating the long form of the Renault driver contracts". Beavis' claim says he continued working with Ricciardo, with Whitedunes' permission, until 31 March and that the long-form contract was concluded on 7 March, a week before the first race of this season. "The position of the defendants… is that the claimant has no entitlement to the commission or to any other form or amount of commission in relation to the Renault contract," reads the lawsuit. Ricciardo's lawyer has not yet filed his defence and says he has until the end of July to do so. Courtenay-Stamp said: "I can confirm that Ebury Partnership and I act for Daniel Ricciardo in relation to this claim and Daniel's position is very clear - there is no merit whatsoever in relation to this claim and we are going to defend it absolutely fully. "You'll have only seen his claim so far. You won't have seen our defence because it hasn't been filed. But it will be filed and it will entirely refute the claim that Beavis is making." A spokesperson for Renault said: "This is a private matter between Daniel and a third party and therefore it is not our place to comment."
nudge Posted July 22, 2019 Posted July 22, 2019 15 minutes ago, Stan said: https://www.bbc.co.uk/sport/formula1/49070675 If the reported numbers are right it would mean that Ricciardo is on a £50m contract at Renault? Would explain why he went to an inferior midfield team...
nudge Posted September 1, 2019 Posted September 1, 2019 https://autoaction.com.au/2019/09/02/ricciardo-considered-not-racing
Moderator Tommy Posted September 28, 2019 Moderator Posted September 28, 2019 1 hour ago, nudge said: Maybe one of the reasons they had to get rid of Hülkenberg? He probably had quite a big contract as well, and Ocon was probably relatively cheap compared to him.
nudge Posted September 28, 2019 Posted September 28, 2019 1 minute ago, Tommy said: Maybe one of the reasons they had to get rid of Hülkenberg? He probably had quite a big contract as well, and Ocon was probably relatively cheap compared to him. I'm almost certain of that. I said a few times before that I have a feeling that Renault will pull the plug on their F1 project soon - ot at least there's a lot of uncertainty at this time about their future so them looking to reduce their operational costs would make sense. Regardless; losing McLaren is a huge blow for Renault.
Subscriber RandoEFC+ Posted September 28, 2019 Subscriber Posted September 28, 2019 Renault spending that much on a driver is ridiculous when the best they could have realistically hoped for this season was to be 4th snapping at Red Bull's heels if their Honda partnership didn't work out. I doubt the reduction in pay for Ocon instead of Hulkenberg will help much with it either.
Moderator Tommy Posted September 28, 2019 Moderator Posted September 28, 2019 12 minutes ago, nudge said: Regardless; losing McLaren is a huge blow for Renault. Can't wait to see it on Netflix though.
Eco Posted October 11, 2019 Posted October 11, 2019 1 hour ago, nudge said: @Eco is this you? No - it's my hero.
Moderator Tommy Posted March 10, 2020 Moderator Posted March 10, 2020 https://www.formula1.com/en/video/2020/3/Daniel_Ricciardo_vs__Kids.html fun watch.
Moderator Tommy Posted April 19, 2020 Moderator Posted April 19, 2020 Every other F1 driver: I'll get a sim race rig, I'll join the Esports stuff, I enjoy spending a lot of time with my family. Meanwhile in Australia:
Moderator Tommy Posted May 14, 2020 Moderator Posted May 14, 2020 6 hours ago, nudge said: Cyril taking shots 100000% what you'd expect from Cyril.
nudge Posted May 14, 2020 Posted May 14, 2020 15 minutes ago, Tommy said: 100000% what you'd expect from Cyril. Well I bet it hurts... Spend all that money on Ricciardo and then have him leave for your customer team at the first opportunity
Moderator Tommy Posted May 14, 2020 Moderator Posted May 14, 2020 Just now, nudge said: Well I bet it hurts... Spend all that money on Ricciardo and then have him leave for your customer team at the first opportunity Can't wait to see Horner mocking him about it in Drive to Survive Season 3.
Eco Posted August 31, 2020 Posted August 31, 2020 Never change Danny... Unless it's your team, then change often
Spike Posted May 19, 2021 Posted May 19, 2021 Every single sport has a 'honey badger'. Such cliched nickname these days, which is too bad because it is a goodie
nudge Posted January 9, 2022 Posted January 9, 2022 A bit weird attitude to have in current times where the importance of the technical side is massive...
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