Genii Capital takes over Renault team

[woohoo]

I would trust Prodrive to deliver more than some "unknown" party.

The Question is now if Kubica will stay or not.
I dont see this new Renault team as a front runner, but then, the only slot left is that of Mercedes, and Schumi rumors are everywhere.

[WhiteBlue]

Mercedes never owned more than a 40% share of McLaren, and they only own 45% of Brawn. Ron Dennis only owns 15% of his own team, but has it ever been anything but his?

Although that is technically correct another 30% of MercGP are owned by Aabar which in turn is the biggest Daimler share holder. So in effect Merc hold just under 50% if you consolidate the deal. It is thought that this construct was selected to satisfy a clause in the McLaren partnership agreement. One can take it to the bank that Aabar and Daimler will form a voting block of 75.1% regarding the control of MercGP.

[Fil]

The only thing this does is make it easier for Renault to move to another team or leave F1 in the future should they want to. Which, of course, is the way the manufacturers should operate in F1.

Spot on. Renault's handling of this sale has been far more impressive & superior to the doubts and fears surrounding the other 3 manufacturers that left.

Renault board have once again officially confirmed their absolute lack of interest to racing having sold their business to businessmen, not racing specialists. It would be a shame to see the Enstone team decay.

Renault, Toyota and BMW really made some good publicity, for Honda that is.

The Honda that were openly discussing closure of the factory? As opposed to the Renault who only spoke of on-selling?
Businessman, like Ghosn & Lopez, ensure the operation is sustainable for the future. The race team, like Bob Bell & Rob White are the racing specialists. The racing specialists are still there.
Genii already have a major driver development program via Gravity Sport Management so obviously have vast knowledge in motorsport to do so.

[Pandamasque]

Renault are only getting out of F1 (as a team/entry owner) in a way that doesn't imply a). being sued by Bernie b). damaging the image of the brand.

Honda effectively gave away the team to someone who wanted to keep on racing. And they did. Renault are selling it to someone who wants to make some money out of it. Unlike Renault reputation, Genii's won't suffer if the team fails badly, they don't make cars, they don't need to be successful on the track as long as they make some profit out of it, regardless if the team survives the next few years or not. That's my problem with it. Nobody knows who Genii are, they don't anything to lose but money.

[Fil]

Hmm, well i'm still positive on the whole deal. success on the track is inherently linked with more income generation due to FOM contracts, as well as the effect of resource restrictions tightening the amount able to be spent.

One other bit of news i just read, Bob Bell is being replaced.. initially i thought this to be bad news but rumoured front-runners to replace Bell are Alain Prost or Eric Boullier:
-Gravity Sport Management President,
previously
-DAMS GP2 Managing & Technical Director,
-A1GP Team France Team Principal,
-Chief Race Engineer to Franck Montagny in World Series by Nissan.

Boullier seems well qualified i think.

[lebesset]

I keep reading in different things about the ownership of this team

there was a 100 % buy out
renault kept 25% but have now sold out
renault still own 25%

is the truth of the matter in the public domain or is everyone just guessing ?

[Sean H]

Genni Capital

[axle]

Genii bought 75%.
Renault retained 25%.

[ESPImperium]

As of Singapore:

GenII = 100%
Renault = 0%

Renault sold the last retainer as this way i feel that come 2013 when the new engine formula comes arround, they can supply more than 2 teams. However, if Renault wishes to buy back the team, they can do for a small mark up on the shares seemingly, 7% this year, increasing by 1.25% for every season untill the end of 2013. But that part isnt confirmed as this part is more comercially sensitive than anything else.

[WhiteBlue]

As of Singapore:

GenII = 100%
Renault = 0%

Renault sold the last retainer as this way i feel that come 2013 when the new engine formula comes arround, they can supply more than 2 teams. However, if Renault wishes to buy back the team, they can do for a small mark up on the shares seemingly, 7% this year, increasing by 1.25% for every season untill the end of 2013. But that part isnt confirmed as this part is more comercially sensitive than anything else.

Is that your fantasy or do you have a source?

[sticky667]

Hmm, well i'm still positive on the whole deal. success on the track is inherently linked with more income generation due to FOM contracts, as well as the effect of resource restrictions tightening the amount able to be spent.

One other bit of news i just read, Bob Bell is being replaced.. initially i thought this to be bad news but rumoured front-runners to replace Bell are Alain Prost or Eric Boullier:
-Gravity Sport Management President,
previously
-DAMS GP2 Managing & Technical Director,
-A1GP Team France Team Principal,
-Chief Race Engineer to Franck Montagny in World Series by Nissan.

Boullier seems well qualified i think.

interesting that you called this 10 months earlier.

[lebesset]

eddie jordon has just stated on the grid that the full ownership of the team is not know and that this could affect whether or not they keep petrov next year