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The immutable facts seem to be, although not specifically outlined, are despite the warnings from Mr Miles, Mr Dane, Mr Nash et al, nobody since Sanpoint/FFF, LDI/LDM, Bellmont/TDR have handed back their RECs, no teams have collapsed, every car shows up at every round of the series since CotF.
Similarly, the only purchase/resale of a REC seems to be around the SuperBlack one, its purchase, and subsequent resale to 888/Team Vortex... which wasn’t mentioned here for some reason.
There were clearly no buyers for the 3 RECs handed back, although it now seems the LDM RECs are each on the move to different ownership structures/owners. The price of these would be interesting to know if/when it is approved.
None of the blurb about the machinations of control by Archer, the executive of Supercar, nor the activities of the teams’ representatives show anyone in good light. Governance is always about being absolutely transparent about everything you do, and some of those notes seemed to be attempting to manoeuvre a arguably recalcitrant majority owner and Supercar executives into action. And its not what you would have expected either.
Quite how Sanpoint/FFF got access to all these private emails between everyone, including the boss of Archer, would he interesting to understand.
The series is crying out for a Concorde Agreement, where key areas related to administrative rules, including number of events, guaranteed annual/monthly income for teams close to the cost of reasonable operation, some clarity around express and implied authority as well..
It got clunked into the claim for being unable to sell the 3 surrendered RECs but is a different problem to solve.
Best possibiity would see teams keeping their RECs, being given say $1.5m per annum in REC income, and every other dollar Archer can make is theirs. Put the pressure back on the entrepreneur with the capital. Even if they are looking for an exit sometime soon.
Clearly from what has been shared here, there is still value to be unlocked from better relationship and ownership structure/income assignment with the teams...
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