DJR have new financial partner. - Page 3

Falcon GT · 7 Oct 2010, 21:09 (Ref:2771068)

Quote:

Originally Posted by Mr Intolerant

My understanding from numerous sources has the story as such......the original process between the two involved three entities with one being a management company and others holding the assets including licences. All were held 50% by each shareholder. There was some investigation by others after the initial transfer of some DJR assets sought by debtholders before the bailout.

A mechanism of equalisation of equity into at least one of the entities was set up to allow for potential non equal contributions of capital by the shareholders. This mechanism has seen a dilution of the holdings of the entity controlling the assets by the DJ side of the equation. I am not aware of the scale of that dilution but confident it happened. The management side of the entity holding remained the same.

The troubles started when as the majority (and some contacts have reported significantly so) shareholder thought that he could now have a greater say over the operations. This was resisted and a watershed moment was when Jnr was signed on an upgraded contract earlier this year by Snr allegedly without full consent or knowledge of CS. CS was looking to have this contract set aside until it was pointed out that the management contract allowed Dick to take such actions. CS thought that they needed a "fast" driver to push Courtney not a "consistent" driver.

The CS side of the team still actively pursued W.Davison and it was not until he informed them he would not be joining them that everything then broke down irrevocably.

Senior & Junior had an existing relationship with Mr Tinkler including JNR racing with him at the 12 Hour and Snr consulting on a proposed track/driver education centre to be constructed by Mr Tinkler in the Hunter. Unsubstantiated rumours (single source) also say that Snr also had some involvement in a proposed line of "Tinkler special vehicles" that had gone so far as prototype construction in Brisbane.

The knowledge that the team had been at civil war was open knowledge in the industry. It was also clear that it could not continue if DJR were to succeed.

Overall you would have to say that this is a fair arrangement for all parties if true.

Interesting that Charlie has privately said something completely different , but continue on GTR

Mr Intolerant · 7 Oct 2010, 21:24 (Ref:2771076)

Quote:

Originally Posted by Falcon GT

Interesting that Charlie has privately said something completely different , but continue on GTR

I love the point that anyone who says anything on this line is GTR. It seems personal denigration has stepped in as a plausible alternative to reasoned discussion.

Unfortunately for you it does not matter who I am, nor do I care who you think I am. I do note that both you and I enjoy the ability to post from anonymity, something GTR no longer is able to do.

I have not posted any of this as fact merely my understanding of the situation. I have done so to try and garner a better understanding by seeing if some others may have points which can enhance the picture or talk about the substantive issues. Your contribution does neither.

As I said, I believe this is a positive outcome for all parties and no one is at fault. It is a very interesting happening though when the biggest living name in Supercars is involved in something like this and it does whet the appetite for the true story.

**Woolley** · 7 Oct 2010, 22:23 (Ref:2771099)

Quote:

Originally Posted by Fast Ford

I've already been called a caveman by Woolley, and he's deleted that as well. talk about sanitising, . . . .you guys could write your own little red book.

Fine, didn't realise you were so precious about it, so I've undeleted it so that everyone can appreciate the quality and majesty of the post to which I was referring.

I don't know the details of the financial arrangements at this team and I can't say I'm especially interested. What I see is two posters not providing a counter-argument, but briefing hard against another poster and anyone who expresses any agreement, while at the same time pushing a conspiracy theory which doesn't exist.

I read the original post with a little scepticism - possibly a personal interpretation of the known facts from a poster who has been more than a little negative about this team in the past (an opinion he's entitled to every bit as much as someone who with the opposite view) and while there's no smoke without fire, a had significant doubts that things could be quite as described. The antics of three other posters in undermining and even threatening the OP and myself leads me to suspect he may have a point. I sincerely hope not - I know enough of the history of the team and owner to want things to work out well, but I've found in the past that if it looks like a duck, quacks like a duck and all it's friends insist it's a chicken and they'll break your legs if you suggest otherwise, then it's probably a duck.

History will give us the truth in good time, I'm sure, and we usually find out that it's somewhere between the two entrenched viewpoints.

Axeman444 · 7 Oct 2010, 22:55 (Ref:2771112)

all i can say is this better not stuff up the potential already shown on day 1 of Bathurst weekend... otehrwise i shall be most upset

bluesport · 7 Oct 2010, 23:27 (Ref:2771126)

Quote:

Originally Posted by Axeman444

all i can say is this better not stuff up the potential already shown on day 1 of Bathurst weekend... otehrwise i shall be most upset

Dick and JC were on Ch7 this morning........ appeared to be relaxed and business as usual.

amiers · 7 Oct 2010, 23:32 (Ref:2771129)

All of this is from one newspaper report. how many times have we all seen this stuff turn into nothing? Some guy who needs to come up with a good story picks the biggest weekend in motor sport to roll out a story based on someone said this or that, in a team that is going to be in the headlines.

no one else on this forum finds that odd? if all was so bad in the team i really dont think they would be where they are right now.

To another point, lets remember this is someones business. how would we like to come home and find all this being written about us? i understand DJ is high profile ,but come on what happened to privacy? if it wasnt true i would be finding and belting the idiot who wrote it in the mouth, because true or not the damage is done.

Fast Ford · 8 Oct 2010, 00:52 (Ref:2771165)

Thanks Wool,. . . . . maybe I'll change my nick to precious, just for you

The rumours are rife and I agree that while we may be feeding the beast by making further comment, we should be prepared to retract or admit it when we get it wrong.

I'm laughing at the latest stuff, DJR to buy two more licences and run two more cars alongside the Jim Beam Racers and maybe even bet a big name driver in the top seat, funny but this stuff could be actually true as well.

Even with all the press this morning, stories on front and back pages, they all maintain one thing consistantly, the ownership is/was 50/50

I haven't got any idea how people can read that and then make up some scenario where that's not the case, and yet here on this very page we have exactly that, amazing.

Bevan-L · 8 Oct 2010, 01:00 (Ref:2771167)

DJR, GTR, CS, JS, JNR ......... i'm completely lost!!

Fast Ford · 8 Oct 2010, 01:05 (Ref:2771168)

Quote:

Originally Posted by cavvy

reporting by press release
versus
investigative journalism

You stick with a press release, I'm comfortable where I stand.

Ummm, . . FYI, . . .it appears as yet there has been no press release,. . .just investigative journalism, . . (is that another euphamism for "made it up")

should I re quote your other post here??

Just Do It! · 8 Oct 2010, 01:16 (Ref:2771172)

Quote:

Originally Posted by Fast Ford

I'm laughing at the latest stuff, DJR to buy two more licences and run two more cars alongside the Jim Beam Racers and maybe even bet a big name driver in the top seat, funny but this stuff could be actually true as well.

Speculation has been around for sometime that the Webbs are/were keen to acquire a 2nd license and to have DJR run the car and effectively make DJR a quasi four-car team.

I still wonder why the Webbs didn't buy Charlie out if the anti-love is/was as rife as James Phelps suggests.

Charlie looking to buy out Dick is an interesting story, and in the fullness of time, may have been a better option that only time will tell.

rustyinsthoz · 8 Oct 2010, 06:04 (Ref:2771244)

And the story continues

http://www.v8supercars.com.au/newsar...5/default.aspx

cavvy · 8 Oct 2010, 08:17 (Ref:2771305)

Quote:

Originally Posted by Fast Ford

Ummm, . . FYI, . . .it appears as yet there has been no press release,. . .just investigative journalism, . . (is that another euphamism for "made it up")

should I re quote your other post here??

Go your darndest.

Fast Ford · 8 Oct 2010, 12:28 (Ref:2771401)

Finally a statement released, . . . .

08-Oct-2010 FOR IMMEDIATE RELEASE

JIM BEAM RACING STATEMENT

There has been considerable speculation regarding Jim Beam Racing and a rumoured rift between co-owners Dick Johnson and Charlie Schwerkolt.

An agreement has been entered into for a change of ownership at DJR, the details of which are confidential and will be disclosed at the appropriate time.

The team is completely focused on winning the Supercheap Auto Bathurst 1000 and guiding James Courtney to the 2010 V8 Supercar Championship.

Both Dick and Charlie are proud of the performance of the Jim Beam Racing who, as a team, are fully committed to Jim Beam Racing.

No further comment will be made by Dick Johnson, Charlie Schwerkolt, or team members at this stage.

END

**Woolley** · 8 Oct 2010, 12:40 (Ref:2771407)

Quote:

Originally Posted by Fast Ford

The team is completely focused on winning the Supercheap Auto Bathurst 1000 and guiding James Courtney to the 2010 V8 Supercar Championship.

Which in the end is the important bit. Whatever is or isn't happening in the background there's no questioning a serious challenge from a driver I personally didn't think had got it in him and is clearly feeling very at home with his team and machinery. I liked James when he was up here but doubted his ultimate ability. I for one will be very happy to be proved wrong on that score. To an extent I already have been with his performance so far this season.

Finance and business are a distraction and I hope it all pans out well for everyone involved. It's what happens on the track that's really important.

emjaya · 8 Oct 2010, 12:55 (Ref:2771423)

Quote:

Originally Posted by rustyinsthoz

And the story continues

http://www.v8supercars.com.au/newsar...5/default.aspx

Quote:

By Gordon Lomas

Oh, dear, it's written by the VESA parrot, Gordon Lomas.
Is there any credible motor racing journalists commenting on this?

Quote:

Originally Posted by Bevan-L

DJR, GTR, CS, JS, JNR ......... i'm completely lost!!

It's all B S.

**Aysedasi** · 8 Oct 2010, 13:11 (Ref:2771429)

It certainly is - to any outsider looking in this thread..........

Techo · 9 Oct 2010, 07:36 (Ref:2771821)

Is running a raceteam profitaible nowadays? Ego's a problem here? Sorry haven't been following closely.

yap · 9 Oct 2010, 08:00 (Ref:2771834)

Take this for what you will

On the telecast today, when JC was doing his Top Ten lap I didn't see any sign of Dick (or Steve) in the DJR pits when I would of imagined everyone would of been there for support

Maybe the camera missed them

Fast Ford · 9 Oct 2010, 08:14 (Ref:2771843)

Quote:

Originally Posted by Woolley

Which in the end is the important bit. Whatever is or isn't happening in the background there's no questioning a serious challenge from a driver I personally didn't think had got it in him and is clearly feeling very at home with his team and machinery. I liked James when he was up here but doubted his ultimate ability. I for one will be very happy to be proved wrong on that score. To an extent I already have been with his performance so far this season.

Finance and business are a distraction and I hope it all pans out well for everyone involved. It's what happens on the track that's really important.

Good analysis of a pretty thin of detail PR.

Look there is no doubting that Charlie Schwerkolt has been one of the factors in the settling down of James Courtney, he's matured this season from someone who could be blisteringly fast one minute and write off the car the next, but as you say he has felt at home with the team and they have up until this last story on the eve of Bathurst appeared to be a unified and cohesive squad.

I think they have a reasonable chance this year with James and Warren at the wheel a good team and great equipment, and watching the shoot out James looked very relaxed, almost too relaxed like he was comfortable with the car and like he wasn't taking any unnecessary risks.

I'm not sure that Pole isn't a bit of a double edged sword anyway.

.

Axeman444 · 9 Oct 2010, 08:48 (Ref:2771854)

Quote:

Originally Posted by Fast Ford

I'm not sure that Pole isn't a bit of a double edged sword anyway

i reckon pole at Bathurst, due to the distance to cover over the day, is nothing more than making sure there are no cars in front of you that might stall on the grid or have an issue at Hell Corner

Fast Ford · 9 Oct 2010, 09:30 (Ref:2771875)

Quote:

Originally Posted by Axeman444

i reckon pole at Bathurst, due to the distance to cover over the day, is nothing more than making sure there are no cars in front of you that might stall on the grid or have an issue at Hell Corner

Race winners from pole are pretty thin on the ground, . . .

Fast Ford · 9 Oct 2010, 09:32 (Ref:2771876)

Quote:

Originally Posted by cavvy

Go your darndest.

Ummm, you kinda must have known that was rhetorical , . . right ?

cavvy · 11 Oct 2010, 22:54 (Ref:2773474)

Nathan Tinkler:
His racing interests go under the banner of Patinack Farm but wags dubbed it Pat'n'Sack for the speed with which Tinkler hired and fired.

One of those dismissed, trainer Anthony Cummings, son of Melbourne Cup legend Bart, served papers in the Sydney's Supreme Court demanding $173,000 in unpaid fees in February. Mr Tinkler counter-sued for $6.4 million, though he has since withdrawn aspects of that claim.

A dispute between a group of horse owners and Mr Tinkler resulted in an ugly scene in the refined setting of the Flemington chairman's lounge in January. One of the owners, a Melbourne businessman in his 60s, said he had approached Mr Tinkler and asked to speak to him in private. The mining magnate responded in two short words then left the lounge.

http://www.smh.com.au/sport/motorspo...009-16cy8.html

Mixer · 12 Oct 2010, 02:01 (Ref:2773535)

God this could all end very badly for DJR.

cavvy · 20 Oct 2010, 06:00 (Ref:2777353)

So Mr Tinkler is losing interest?

What security does Mr Forklifts have IF push comes to shove?

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