Rich Energy

[Richard C]

I had signed up for alerts regarding the impending book about Rich Energy.

https://www.richenergybook.com/

The authors provided an update today (via email, but not on their website). They said the final manuscript is done and in the hands of the publisher. They will provide more info when they have it. Such as publishing date and pre-orders.

I "hope" the books is good. I am on the fence as based upon some of the writing by one of the authors, I don't know if they really understand F1 well enough to write authoritatively about it. But... the book may be less about F1 than it is about the craziness that is Rich Energy.

Richard

[S griffin]

William Storey does at least seem to know his F1 history, but that doesn’t mean he really understands it

Still his comments on how the 2021 were actually bang on for once!

[crmalcolm]

Storey now has an excuse for pulling out of F1:

https://www.bbc.co.uk/sport/formula1/60195524

Given his stance on all things C-19, I wouldn't be surprised if he declares that everything was in place, but he is now withdrawing from the sport due to restrictions being imposed.

[tbtstt]

Originally Posted by Richard Casto

I "hope" the books is good. I am on the fence as based upon some of the writing by one of the authors, I don't know if they really understand F1 well enough to write authoritatively about it. But... the book may be less about F1 than it is about the craziness that is Rich Energy.

The bio on the authors certainly made me chuckle! Hadn't seen this before, definitely intrigued to know what is going to be said in the book...

[S griffin]

Originally Posted by crmalcolm

Storey now has an excuse for pulling out of F1:

https://www.bbc.co.uk/sport/formula1/60195524

Given his stance on all things C-19, I wouldn't be surprised if he declares that everything was in place, but he is now withdrawing from the sport due to restrictions being imposed.

Well he already made a similar excuse last year for his lack of an annoucement

[Richard C]

I think Storey is at this point where he doesn't really put forth any serious effort to explain why any prior announcements were either hot air at worst, or superficial at best. He just moves forward with new promises and doesn't look in the rear view mirror.

Richard

[GTRMagic]

Originally Posted by Richard Casto

I think Storey is at this point where he doesn't really put forth any serious effort to explain why any prior announcements were either hot air at worst, or superficial at best. He just moves forward with new promises and doesn't look in the rear view mirror.

Richard

I have known sales people like that.. they usually dont survive in a conventional business... but this is Formula One...

[Adam43]

I know of politicians like that. They usually survive.

[Richard C]

Originally Posted by GTRMagic

I have known sales people like that.. they usually dont survive in a conventional business... but this is Formula One...

I have noticed that many business leaders (and sales people) tend to have personality traits of being optimistic, dreamers, and self confident. Which is not bad traits. But sometimes those can manifest in particularly bad ways such as living in a dream world of rose colored glasses and even some level of delusion. When I say delusion, I mean struggling to differentiate between reality (how things really are) and fantasy (what they wish them to be).

This can create people like Elizabeth Holmes of Theranos fame and many others. They are effectively grifters who probably fully believed the lies as they came out of their mouths. They may have even meant well. Eventually the house of cards all comes tumbling down. I suspect Storey at some level also believes what he says.

I am not saying "all" fit that category, or exhibit the extreme negatives. My father was a sales person his entire life. He was optimistic, a dreamer, and self confident. But he was also ethical and grounded in reality (at least as grounded as any serious dreamer can be!)

Richard

[Richard C]

Originally Posted by Adam43

I know of politicians like that. They usually survive.

Good point. I should have included them in with my business leaders and sales people. The are all "selling" something and need to have (or convincingly show) confidence in what they are saying. It's always easier to do that if you believe what you are saying even if evidence points to the contrary.

Richard

[Adam43]

The worry is I suspect that Storey, these salesman and politicians seem to have got to the point where they are doing exactly as you describe, but they don’t even need to believe it themselves.

[Richard C]

Pre-order for the Rich Energy Book is now up.

https://mcfarlandbooks.com/product/r...h-rich-energy/

No release date yet. I also think this pre-order is targeting the US audience in that I don't think they have a distributor for outside of the US just yet. At $30, I will buy a copy.

Richard

[Skam85]

Whether you actually get a copy is another thing

[Richard C]

Originally Posted by Skam85

Whether you actually get a copy is another thing

That would be true to the entire Rich Energy saga. Maybe Storey will sue to stop it.

But the pre-order is listed on the publishers site (which is a small, but legitimate publisher who focuses on niche categories including sports and automobiles). The authors say they are done with the manuscript. I can't see the publisher listing it for pre-order unless they had manuscript in hand. I assume the likelihood of getting it is high. Now.. will it be any good? For $30 I am willing to risk it. I hope it proves to be entertaining and ideally with some new revelations.

Richard

[Beau2]

I wish they would just get on with it and announce Daniel Kyvat and Nikita Mazapin as their drivers for the Rich Energy team.

[Moneyseeker]

Originally Posted by Richard Casto

I have noticed that many business leaders (and sales people) tend to have personality traits of being optimistic, dreamers, and self confident. Which is not bad traits. But sometimes those can manifest in particularly bad ways such as living in a dream world of rose colored glasses and even some level of delusion. When I say delusion, I mean struggling to differentiate between reality (how things really are) and fantasy (what they wish them to be).

This can create people like Elizabeth Holmes of Theranos fame and many others. They are effectively grifters who probably fully believed the lies as they came out of their mouths. They may have even meant well. Eventually the house of cards all comes tumbling down. I suspect Storey at some level also believes what he says.

I am not saying "all" fit that category, or exhibit the extreme negatives. My father was a sales person his entire life. He was optimistic, a dreamer, and self confident. But he was also ethical and grounded in reality (at least as grounded as any serious dreamer can be!)

Richard

They often favour the practice of ' I have said it, therefore it must be true or has happened' when neither may be the case. You then re-announce an old annnoucement and press play and repeat...

[GTRMagic]

Originally Posted by Beau2

I wish they would just get on with it and announce Daniel Kyvat and Nikita Mazapin as their drivers for the Rich Energy team.

Driving for Mr Anderson's USF1

[E.B]

Hmmmm not sure what to make of this liquidation talk and 60 million pounds of debt.

https://mobile.twitter.com/i/web/sta...20033688866818

Lightning Volts Ltd, company that made Rich Energy drink and connected to William Storey, who was interested in buying Sunderland a couple of years ago, has report published by liquidators. Unsecured creditors claiming owed over £60m #SAFC

More financial details in the tweet linked.

[Richard C]

Originally Posted by E.B

Hmmmm not sure what to make of this liquidation talk and 60 million pounds of debt.

https://mobile.twitter.com/i/web/sta...20033688866818



More financial details in the tweet linked.

This is not my area of expertise at all. But wasn't Volt a legal entity that existed between the original RE and existed during the battle for control and then a new company (whatever is operating today) was created? Did Storey somehow leave the debt in that old entity and then move assets (IP and maybe existing inventory) to the new company? Can you even do that and leave those owed money high and dry? If you read deeper into the twitter thread some are saying that Storey is one of those claiming to be owed money.

Richard

[Richard C]

https://www.motorsport.com/tt/news/l...team/10340666/

I have somewhat been following this since it hit the news a few days back. Other than the obvious "Why would anyone in their right mind do any type of sponsorship deal with Rich Energy" issue, I didn't know what to think of it. Then this interview came out telling Stories side of things.

https://www.superbike.co.uk/article/...william-storey

Then OMG Racing put out a press release

https://www.britishsuperbike.com/new...ng-yamaha-team

Of which they say they remain sponsored, but not by Storey, or Rich Energy, but rather by RichOMG Limited. No doubt there is some type of crazy shell game of companies in the entire Rich Energy saga. Who knows what is true.

Overall, I think I am just numb to any Rich Energy train wreck stories at this point.

I saw some speculation that maybe what was happening is that there might have been a bonus payout around performance and that given OMG is leading the championship, they may have been on track to trigger something that the sponsor didn't want to pay. So he is trying to bail out. I am sure the Rich Energy sponsored BRC Racing team (British Touring Car series which I don't follow) are probably wondering if they are next.

Richard

[Mike Harte]

Richard, it does not appear to be quite as simple as first thought.

Apparently, the sponsorship is by the company RichOMG Ltd, which claims to not have any "direct" association with W. Storey. Their company registration shows there to be one director who also happens to actually own/run a team in the British touring Car Championship, and the claim is that this company has taken over the worldwide distribution of the drinks but have no involvement with it's production, and Storey is not involved with this company.

The sole director of this company, one Steve Dudman, does also own/run a number of other businesses and has been involved with the BTCC for a number of years.

No doubt more about this will come out in the near future.

[Richard C]

Originally Posted by Mike Harte

Richard, it does not appear to be quite as simple as first thought.

No doubt.

Let's say there is no link between RichOMG Ltd and whatever legal entity is at the core of "Rich Energy" other than the drink product. Why would anyone subject themselves to this level of insanity. If the money is not coming from Rich Energy, then don't put the name or logo on your team, or become a business partner.

What it looks like is that Dudman is in bed with Storey in the sense they both are riding on the success of the drink product. All the rest of this about specific legal entities, while that does matter, it's mostly just hand waving to try to pretend it's not a total mess under the covers.

I look forward to hearing more details.

Richard

[Adam43]

“worldwide distribution”

[Richard C]

Originally Posted by Adam43

“worldwide distribution”

I saw a post somewhere that someone said they were going to boycott Rich Energy by not buying it at their local store. Of course the joke is you can't buy it at your local store because nobody stocks it.

Richard

[crmalcolm]

Originally Posted by Mike Harte

Richard, it does not appear to be quite as simple as first thought.

Apparently, the sponsorship is by the company RichOMG Ltd, which claims to not have any "direct" association with W. Storey. Their company registration shows there to be one director who also happens to actually own/run a team in the British touring Car Championship, and the claim is that this company has taken over the worldwide distribution of the drinks but have no involvement with it's production, and Storey is not involved with this company.

The sole director of this company, one Steve Dudman, does also own/run a number of other businesses and has been involved with the BTCC for a number of years.

No doubt more about this will come out in the near future.

Mike,

The company referred to in the OMG deal is RichOMG Limited. The sole director of this company is listed as Alan Edward Lowe, the owner of the BSB team. (Company number 12530776)

The company referred to in the BTC Racing deal is RICH Distribution Limited. The sole director of this company is listed as Stephen Albert Charles Dudman, the owner of BTC Racing. (Company number 13815637).

It's also noticeable that in all of Storey's comments, he refers to the brand ending the deal with the company - not the name Rich Energy or the BSB entry...