Minardi Team USA (merged)

[f-lot]

Originally Posted by alonso11

As a fact of a matter, Trust CEO meant to stay with the team beyond jos, but evetually ended up sponsoring our rival, Jordan, a team that jos wasnt the driver of... so go figure .. it was all the result of the Jos VS Stoddie VS dutch media shiznit, Trust kept sponsoring F1 (and obviously they did not care that jos is not driving at all) they just switched teams.

If you look up the Trust press-releases of around that time, even the ones after they broke with Verstappen, you'd see they did care. AFAIK it's never been released to the public why they could sponsor Jordan in 2004 despite the contract. Perhaps they were hoping to get Verstappen in for 2005 and Verstappen gave them permission? But that there was a contract is an undeniable fact. Like I said, look up the Trust press releases. The one mentioning the contract, is IIRC from 2005.

Originally Posted by alonso11

To make the story complete the Trust logo still apeared on one of Minardi's truck (and 7 of their cars) for a whole season after jos drove for them, but that sponsorship only applied to the F1x2 program.

The contract was for all FIA-regulated series, so the F1x2 program wasn't covered by the contract.

[Mystery]

Right..........

Moving on then - does anyone actually know what happened to the Mexico announcement?

[enemy-ace]

The announcement for Mexico was never a certainty as stated in the article.
I do hope this happens though.

[alonso11]

Originally Posted by Rime

As far as my knowledge goes, in the end Muermans (and not Paul Stoddart) will decide who drives for Minardi in the CCWS. Case closed.

right, so you DID lie about Stoddart EVER mentioning josthetoss in relation with a champcar seat, and now you suggesting (your next lie) that it's not even Stoddart who decides on who gets that seat... impressive

[indycool]

Well, no announcement yet, so Stoddart has no team yet and something must be holding up the works.

[coyote9999]

Hey Alonso and Rime please keep it cool. I think you've been warmed more than once. Let's get back to the topic and not back to accusations please.

[mountainstar]

Originally Posted by indycool

Well, no announcement yet, so Stoddart has no team yet and something must be holding up the works.

No it's just that when you buy a operational business or part there of, one must do due diligence and complete agreements on current and future contracts, assets, liabilities, shareholdings, etc. You just don't walk in hand over a check, sign a piece of toilet paper and you're done.

Ever buy a house before? It usually takes a month of closing to get a deal done. And that's just for a house, imagine buying a business that is currently operational.

[indycool]

Well, it's been a hot Internet subject for two months. First it was Stoddart buying RuSport. Lately, it's been HVM. Lately, Muermans' name has been mentioned. Lately they're going to call something "Minardi." Lately Petit and Vasser are going to buy RuSport. Dale says RuSport and CDW continue but they really have no owner. We've just had a huge argument here about the propriety of Jos Verstappen as a driver for a team that may or may not exist.

Time will tell.

[JohnSSC]

Having bought several houses the paperwork snags can be bountiful. I think what indycool is alluding to here is simply that: a snag. Appreciate the information that a due diligence would be in order but that goes without saying in any financial transaction where assets (and presumably) debts/future obligations are as well.

I don't recall ever signing off on the paperwork using toilet paper, although the $$ spent seemed to have been flushed just as effectively.

[coyote9999]

You read my mind JohnSSC

[JohnSSC]

Thanks Coyote!

Not to oversimplify, but I think we are all aware here for the most part how complicated these deals can be - particularly when buying/assuming ownership of a race team.

I get the impression that KK owns more than one of the teams. Does Forsythe hold more than one as well, I wonder? Perhaps that is what is complicating the issue for Stoddart: multiple race teams controlled by one or more of the owners of CC would make reaching a financial settlement that much more interesting. Obviously they (KK/GF) want to bring more $$ in but they also would want to get their investment back and also insure that they retain control of the Series itself.

This could actually become quite interesting from a standpoint of divesting assets in a sense yet retaining control of the overall operation. Also, where does the $$ go? Directly to KK or GF or is their ownership of the teams through another corporation?

With all the money they are taking in advising on such matters it is a wonder to me that more attorneys are not race team owners - they can sure afford it!

[indycool]

Interesting points, John.

It's been rumored for some time that KK owns the HVM team somehow through the Cedric angle.

Then again, what is a race team worth right now? The Lolas are flower pots. The cars are new, there are new engine leases. What price do you put on a couple transporters, a pit stand, some shop equipment and a payroll?

Because of the initial cost of new cars, a CC team is probably worth LESS than previously because usable assets are less.

[D.R.T.]

Originally Posted by indycool

Well, it's been a hot Internet subject for two months. First it was Stoddart buying RuSport. Lately, it's been HVM. Lately, Muermans' name has been mentioned.

Wasn't it DCR that was mentioned first. I am pretty sure CTE was mentioned prior to the Rusport situation aswell.

Originally Posted by indycool

Lately they're going to call something "Minardi."

This has been the intention from the outset

[mountainstar]

Originally Posted by indycool

Interesting points, John.

It's been rumored for some time that KK owns the HVM team somehow through the Cedric angle.

Then again, what is a race team worth right now? The Lolas are flower pots. The cars are new, there are new engine leases. What price do you put on a couple transporters, a pit stand, some shop equipment and a payroll?

Because of the initial cost of new cars, a CC team is probably worth LESS than previously because usable assets are less.

Keith Wiggins has stated otherwise in Racer magazine, so I'll take his word for it rather than a "rumor" from an unknown source.

From viewing the panther auction last year, there is an awful lot of crap teams have to keep a race team running. The Lolas are not flower pots. Older Lola champcars are becoming pretty popular on the historic scene because of the ease of enginneering them(compared to an F1) and repairing them. Cosworth still sells and repairs old champcar engines as well. They will not be worth what they were new, but are still an asset and will fair better $$$$ wise than old irl dogs that have proven pretty useless for HSR BOSS racing.

When last heard from the framework of the HVM deal would be 2 hvm cars and 2 minardi cars run from the same shop. One might assume any "delay" some seem concerned about has nothing to do with hvm as possibly stoddart is not buying in, only stoddart is busy getting a deal done involving his sponsors and drivers, key staff and equipment. In that scenario hvm is only the provider of shop space with no transfer of ownership. I think a lot of people are under the impression that stoddart and wiggins are sharing ownership in a team, quite possibly that is not the case.

[Mystery]

Originally Posted by indycool

It's been rumored for some time that KK owns the HVM team somehow through the Cedric angle.

Another interesting suggestion. Ever since the team became HVM I was intrigued as to whoever might own it. I suspected it wasn't Keith Wiggins because I had the impression he didn't have a huge amount of cash lying around after the Pacific F1 team went belly up.

Then again, it's equally likely there is a far less complex solution but it's interesting to speculate regardless.

[coyote9999]

Mr. Wells and PPI Motorsports lost their P & G sponsorship in Nascar and had been rumoured to have an interest in Atlantics last year, Now without any hope for Nascar seems there is not only interest in Atlantics but in Champ Car as well. I got the info that Mr. Wells is not happy from a Nascar Forum and the renewed interest in Champ Car from AR1. I know the site has credibility issued but as they stated it is just a rumor.

[mountainstar]

Originally Posted by Mystery

Another interesting suggestion. Ever since the team became HVM I was intrigued as to whoever might own it. I suspected it wasn't Keith Wiggins because I had the impression he didn't have a huge amount of cash lying around after the Pacific F1 team went belly up.

Then again, it's equally likely there is a far less complex solution but it's interesting to speculate regardless.

Again, for the nth time, if one reads the Racer article it details the ownership history dating back years and it's present ownership. There is no "speculation".

[Rime]

To come back on the Verstappen story (sorry guys), according to his column today in the 'Telegraaf' (major dutch newspaper) Verstappen counts to be at the start of the first race in Vegas.

Nothing signed yet but a deal (with Minardi?) looks almost certain.

Column Verstappen

[f-lot]

Originally Posted by Rime

To come back on the Verstappen story (sorry guys), according to his column today in the 'Telegraaf' (major dutch newspaper) Verstappen counts to be at the start of the first race in Vegas.

Nothing signed yet but a deal (with Minardi?) looks almost certain.

Column Verstappen

For the non-Dutch-speaking crowd among us:

http://babelfish.altavista.com/babelfish/trurl_pagecontent?lp=nl_en&url=http%3A%2F%2Ftelegraaf-i.telegraaf.nl%2Fdaily%2F2006%2F11%2F23%2FTE%2FTE_2S_20061123_31%2Farticles%2Fartikel_TE_2S_20061123 _31_275.php

[coyote9999]

f-lot, thanks for the translation but boy was that hard to read.

[Rime]

Thanks f-lot, was a bit in a hurry so I couldn't translate the story.

[f-lot]

Originally Posted by Rime

Thanks f-lot, was a bit in a hurry so I couldn't translate the story.

If you would, it would be more readable. This is just a machine-translation by http://babelfish.altavista.com, I simply don't have the time to do a proper translation.

[andy97]

Went to an excellent talk by Paul Stoddart at the Donington Grand Prix collection on thursday night - he laughed about all the Champ car rumours and admitted that it had been an open secret for way too long but he was still not in a position to talk specifics. The deal has still not been signed...Due Diligence etc etc but he was looking forward to next year tremendously. Interestingly he is going to take the Minardi F1x2 cars to the US for 6 2 Seater events at various Champ car rounds (not Ovals!). Paul was also very candid about his time in F1. An excellent evening but best not repeat some of his comments here!

[cos]

Stoddart's plans have finally been confirmed, as expected he's teaming with CTE/HVM to form "Minardi Team USA"
http://www.autosport.com/news/report.php/id/56058

[luke]

Yes! It's official!

So its the old F1 Pacific team owner teaming up with the old F1 Minardi ower in away...

Good news that its confirmed still in 2006 I guess...

Wiggins CTE/HVM was a great team last year as it was, now imagine the personality of Paul Stoddart, 'he's the kind of guy you want in Champ Car.' to quote KK.