🏎 Lost More Than A Ride

Posted by February 9, 2024 in The Money Lap

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Good morning! Congratulations! We’ve almost made it… The long off-season will officially come to a close next weekend with the 66th running of the Daytona 500. After that? 23 straight weekends of NASCAR racing! Enjoy the quiet weekend, watch the big game, and get ready for racing to make it’s long awaited return!

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De Vries Loses Court Case

Former AlphaTauri F1 driver Nyck de Vries has been ordered by the Amsterdam District Court to repay a €250,000 loan and surrender half of his earnings from his 2023 stint up to July, following a lawsuit filed by Investrand, the company that provided financial support early in his career. “We supported Nyck at a crucial moment in his career,” stated Jeroen Schothorst from Investrand, expressing regret over the need for litigation but emphasizing the failure of negotiations with De Vries and his legal team. This decision pivots around the debate whether De Vries’ emergency participation in the 2022 Italian GP marked him as an active F1 driver, thereby activating the repayment terms.

The initial ruling seemed favorable to De Vries, distinguishing his role at the Italian GP as a reserve rather than a race driver. However, this week’s judgment shifted gears, compelling De Vries to not only repay the initial loan but also share his AlphaTauri earnings. “The court’s interpretation of the agreement is not consistent with what De Vries intended,” remarked De Vries’s lawyer, Jeroen Bedaux, highlighting a discrepancy in understanding and signaling the possibility of an appeal.

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