[LM24] Pescarolo Sport future plans...?!?!

[alexkiller8]

Originally Posted by CTD

At that point it would be easier to actually finish the 03

but without money the car can't be built... i just hope that if the dome s102.5 will impress with a good pace in spa race, pescarolo will obtain to run the car also in the other remaining 5 races.

[gwyllion]

Originally Posted by alexkiller8

but without money the car can't be built...

Without money Henri can not transform the old 01 into a 2012 compliant car

Originally Posted by alexkiller8

i just hope that if the dome s102.5 will impress with a good pace in spa race, pescarolo will obtain to run the car also in the other remaining 5 races.

Dome is only interesting in show casing the car at Le Mans. Henri would have to buy the Dome and as you said, he is short on cash.

[alexkiller8]

true, but if the dome s102.5 let them to score a good amount of points in lmp1 trophy, maybe dome can change his mind. Won't be a bad publicity for dome an overall winning car.

[Victor_RO]

Oh dear... Henri really doesn't know how to choose his business partners unfortunately.

http://www.emotionautoprestige.com/i...?topic=13808.0

Pescarolo - Luxury dispute to be settled in court.

[CTD]

Originally Posted by Victor_RO

Oh dear... Henri really doesn't know how to choose his business partners unfortunately.

http://www.emotionautoprestige.com/i...?topic=13808.0

Pescarolo - Luxury dispute to be settled in court.

Well, hopefully it will go into Henri's advantage . (speaking as a Prototype fan, knowing that would cut down on luxury racings GTE program, which of course isn't wishful thinking)

[gwyllion]

This is very serious. Apparently the Ferraris and trucks of Luxury have been confiscated by the justice department because of their unpaid bill from Pescarolo!

[CTD]

Originally Posted by gwyllion

This is very serious. Apparently the Ferraris and trucks of Luxury have been confiscated by the justice department because of their unpaid bill from Pescarolo!

Well that's not good .
Of course an agreement is an agreement, but it will not help the good will towards Pescarolo, if this become a death sentence for Luxury Racing.

[alexkiller8]

i can understand a little of french, more or less i understood the situation, but i have a question: why luxury must to pay pescarolo? they had an agreement that says luxury must to pay a still unprecised amount of money to pescarolo but for what reason?

[gwyllion]

I read on the EI forum that Luxury was supposed to pay 2 million euro and in return they would get 40% of Pescarolo Sport. At the moment Luxury has only paid 200.000 euro.

[Victor_RO]

Originally Posted by alexkiller8

i can understand a little of french, more or less i understood the situation, but i have a question: why luxury must to pay pescarolo? they had an agreement that says luxury must to pay a still unprecised amount of money to pescarolo but for what reason?

Probably a provision in whatever the two teams signed before Sebring.

[alexkiller8]

Originally Posted by gwyllion

I read on the EI forum that Luxury was supposed to pay 2 million euro and in return they would get 40% of Pescarolo Sport. At the moment Luxury has only paid 200.000 euro.

ok but the answer is: according to this agreement, luxury must to pay all this money to pescarolo, but what is the pescarolo part of this agreement? technical support/consulting for the luxury team or what other service?
usually when A pays B, is because B give to A a service or performance.

[CTD]

Originally Posted by alexkiller8

ok but the answer is: according to this agreement, luxury must to pay all this money to pescarolo, but what is the pescarolo part of this agreement? technical support/consulting for the luxury team or what other service?
usually when A pays B, is because B give to A a service or performance.

If you read Gwyllion's post you would know:

Originally Posted by gwyllion

I read on the EI forum that Luxury was supposed to pay 2 million euro and in return they would get 40% of Pescarolo Sport. At the moment Luxury has only paid 200.000 euro.

However i do not see what the big problem is, if this is the deal (which it of course is not). If Luxury can't pay, then they get no share, simple!

[gwyllion]

The problem is that Stephanie Hoener, the team owner of Luxury, never signed the contract with Henri. Henri seems to suggest that by paying 200 000 euro she implicitly approved the verbal agreement.

[CTD]

Originally Posted by gwyllion

The problem is that Stephanie Hoener, the team owner of Luxury, never signed the contract with Henri. Henri seems to suggest that by paying 200 000 euro she implicitly approved the verbal agreement.

Aaah. But is a verbal agreement binding in France?. I know it is in Denmark, and therefor likely, but it's only a guess.

But if Luxury haven't received the any of the 40% shares, then they aren't required to fulfill the agreement!?

(I know this is something we might never know, due to secret contract/lawyer stuff)

[Simmi]

Originally Posted by gwyllion

The problem is that Stephanie Hoener, the team owner of Luxury, never signed the contract with Henri. Henri seems to suggest that by paying 200 000 euro she implicitly approved the verbal agreement.

Dodgy stuff. Hope this can all kind of rumble on through Le Mans so we don't potentially see three cars wiped off the grid.

Still not convinced the 03 will turn up.

[Articus]

Originally Posted by CTD

Well, hopefully it will go into Henri's advantage . (speaking as a Prototype fan, knowing that would cut down on luxury racings GTE program, which of course isn't wishful thinking)

That car hasnt turned enough wheels to even be considered a worthy entry despite the Pescarolo name..Will this be another Aston Martin? To jeopardize the Luxury racing entries which will be crucial to the GTE field at Le Mans is worrying.

I hope this gets resolved. I didnt understand why Luxury was interested in Pescarolo in the first place.

[rich07]

Originally Posted by gwyllion

The problem is that Stephanie Hoener, the team owner of Luxury, never signed the contract with Henri. Henri seems to suggest that by paying 200 000 euro she implicitly approved the verbal agreement.

A verbal agreement with no signed contract to back it up? That was wise

So I guess the Luxury Ferraris were confiscated when they returned to France after Spa?

[FordCosworthPanoz]

Here we go again...

I really wish Pescarolo and OAK would have hooked up.

[alexkiller8]

ok, basicly is what i've thought... however is a strange operation if 40% = 2.000.000 € it means that the 100% = 5.000.000 € in theory. If this person could use 2 million of euros to gain 40% why don't add some more money (+550.000 €) to gain 51% obtaining the control of the team?
ok maybe pescarolo put on sale only the 40% of the team to ensure financial entries but still keeping a good decisional autonomy, but however he "acts" in the role of the seller that extremely need to sell.

[Articus]

Who knew Luxury racing was a female owned team? Thats awesome to see how good they have become!

[The Badger]

Originally Posted by Articus

Who knew Luxury racing was a female owned team? Thats awesome to see how good they have become!

LMAO ..... the women on this forum may take exception to that comment !!!

[Simmi]

Originally Posted by gwyllion

The problem is that Stephanie Hoener, the team owner of Luxury, never signed the contract with Henri. Henri seems to suggest that by paying 200 000 euro she implicitly approved the verbal agreement.

A woman saying one thing and meaning another? Shock!

Should have seen that one coming Henri

[gustavobamba]

Now more serious... is the Pescarolo 03 participation in Le Mans and the built of the car in jeopardy??? Will the ACO do something about this situation?

Please not an AMR-one part II, pleeeeeeeeeeeease...

[Victor_RO]

Originally Posted by gustavobamba

Now more serious... is the Pescarolo 03 participation in Le Mans and the built of the car in jeopardy??? Will the ACO do something about this situation?

Please not an AMR-one part II, pleeeeeeeeeeeease...

If what gwyllion said is true, then the participation that's more in jeopardy is more likely to be Luxury Racing's two GT entries.

[gustavobamba]

Originally Posted by Victor_RO

If what gwyllion said is true, then the participation that's more in jeopardy is more likely to be Luxury Racing's two GT entries.

With no Pescarolo 03, the HPd´s not developed enough, the Lola´s fare behind the pace, Toyota entering the game this year and Audi with no rival, Le mans this year will be boring in LMP1, lets hope LMP2 and GT bring something ( sorry for the off topic)