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Tony Quinn and Jamie Whincup will be majority shareholders in Redbull Racing I believe.Quote:
Originally Posted by WASP
Triple 8 Race Engineering may very well remain a separate entity controlled by the Danes.
Tony Quinn also rumoured to be buying Team Sydney from the Webbs...
4 car super Team anyone??
Yep Quinn major shareholder 40%.
The restructured shareholdings see Jamie Whincup, who bought into the business in 2018, increase from 15% to 19% and Jessica Dane, who became a shareholder in 2015, increase from 27% to 30%.
Dane 11%......
Quinn well having over $600M from the 2 sales of VIP/Darrell Lea back then and since other investments can I say its chicken feed :)
Bugger me, if this is true, Jonno Webb is a piece of work. Selling the team, but not telling his employees, letting them read it on Facebook. I feel for Fabs and the others
Then there is the issue that he took money from NSW gov to make it Team Sydney. New owner either going Melb or Brisbane.
Sport may well be better off without Mr Webb
Its a shit show alright.Quote:
Originally Posted by TS50
Allegedly was in multiple breaches of sponsorship conditions including car upgrades, signage etc.
Premair effectively took control of the Team in lieu of costs when Webbs father said enough and put an end to it.
Tony Quinn was front runner to buy the team till the mess became evident.
Unfortunately, it's not unusual for a business to change hands without employees being advised, initially.Quote:
Originally Posted by TS50
There can be many genuine reasons for this to occur, but what is bad in this situation is the media being advised without injunction before employees and key business stakeholders.
I can only presume this has occurred due to the JW being under some serious pressure to essentially relinquish control, effective immediately to either a new owner or an appointed administrator or both.
The business could have been trading insolvent for all we know, and JW had his hands forced by parties that then went on to disclose to the news without his content.
Despite how bad things look, we just don't know how these things have transpired.
Ultimately JW was responsible for the business getting into such a position that made it (and its employees) vulnerable. There is no doubt this will be something he will be held to account for.
I just don't believe as a fellow business owner you would ever intentionally want for your employees to find out this way.
I also hope many of their existing employees transition to the new team structure and they manage to retain sponsors, supplier and other partners that have come on this journey with the team, to date.
s hit happens, always has with that team.
Agreed its wrong.