multisync wrote: ↑31 Jul 2018, 23:00The money laundering was done to keep FI afloat. India has strict sponsorship laws and its difficult and I believe illegal to sponsor outside India. That was the reason he bought whyte & McKay whiskey so he could channel funds from India to the team. Its now being played as money laundering but in actuality was just a way of moving money around for legitimate purposes.
He's not pure as the driven snow but he's certainly not quite the villian he's painted to be
If you consider the fact that these plans to move money outside India to funnel into the team were not declared to the banks while the loans were sought, that explains why he's a scam artist, a fraud, and criminal.multisync wrote: ↑31 Jul 2018, 23:00The money laundering was done to keep FI afloat. India has strict sponsorship laws and its difficult and I believe illegal to sponsor outside India. That was the reason he bought whyte & McKay whiskey so he could channel funds from India to the team. Its now being played as money laundering but in actuality was just a way of moving money around for legitimate purposes.
He's not pure as the driven snow but he's certainly not quite the villian he's painted to be
mantikos wrote: ↑01 Aug 2018, 16:01If you consider the fact that these plans to move money outside India to funnel into the team were not declared to the banks while the loans were sought, that explains why he's a scam artist, a fraud, and criminal.multisync wrote: ↑31 Jul 2018, 23:00The money laundering was done to keep FI afloat. India has strict sponsorship laws and its difficult and I believe illegal to sponsor outside India. That was the reason he bought whyte & McKay whiskey so he could channel funds from India to the team. Its now being played as money laundering but in actuality was just a way of moving money around for legitimate purposes.
He's not pure as the driven snow but he's certainly not quite the villian he's painted to be
Name a clean bank.mantikos wrote: ↑01 Aug 2018, 16:01If you consider the fact that these plans to move money outside India to funnel into the team were not declared to the banks while the loans were sought, that explains why he's a scam artist, a fraud, and criminal.multisync wrote: ↑31 Jul 2018, 23:00The money laundering was done to keep FI afloat. India has strict sponsorship laws and its difficult and I believe illegal to sponsor outside India. That was the reason he bought whyte & McKay whiskey so he could channel funds from India to the team. Its now being played as money laundering but in actuality was just a way of moving money around for legitimate purposes.
He's not pure as the driven snow but he's certainly not quite the villian he's painted to be
VJ was rarely at the HQ for various reasons. I was told (but I'm not confirming) he was a long term sponsor of Mclaren before FI without being credited. He was well liked (although probably never visited more than 20 times in this whole era ) he moved heaven and earth to keep the team going. He wasn't willing to cut and runIamLegend wrote: ↑01 Aug 2018, 20:09mantikos wrote: ↑01 Aug 2018, 16:01If you consider the fact that these plans to move money outside India to funnel into the team were not declared to the banks while the loans were sought, that explains why he's a scam artist, a fraud, and criminal.multisync wrote: ↑31 Jul 2018, 23:00The money laundering was done to keep FI afloat. India has strict sponsorship laws and its difficult and I believe illegal to sponsor outside India. That was the reason he bought whyte & McKay whiskey so he could channel funds from India to the team. Its now being played as money laundering but in actuality was just a way of moving money around for legitimate purposes.
He's not pure as the driven snow but he's certainly not quite the villian he's painted to be
If BTW can "loan" money to the team and in-return receive sponsorship on the car and team as a payment, couldn't Kingfisher airlines at the time do the same? What's your take on it??
The only thing he was and is that he was passionate about the team, here's a personal story I'll share with you - In 2008 I went to the Canadian GP up in Montreal and after the race decided to walk by the pitstops, a few Force India guys were packing up the garage and I just asked them this question and asked how did it feel having a liquor baron as their new team owner, to which they replied - it's a more relaxed approach to work from what is was before (if he meant Spykar or Jordan, I'm not sure), we are allowed to be ourselves and if we have a hard day, we can always drink some Kingfisher beer. By the looks in their faces, it felt genuine and It didn't seem like a scripted answer.
It's too bad things have taken a turn for the worse, but I began to follow this team passionately ever since and I feel very sad to see the position they're in today. Here's hoping something good turns out for all of them.
I think it's means the team's purchase value that will be lower.
Eddie knows everything up to the point he left. After that he is relying on inside contacts telling him. And at the top there wasn't any left only management level.adrianjordan wrote: ↑02 Aug 2018, 08:09I reckon Eddie Jordan knows most of the story....it would be interesting if he wrote a tell all book about the team during and after he was the owner...
The objections by the other 3 teams are so that they can have the money that FI would have earned distributed to them instead. This in turn is a reflection of the reality that the current F1 business model is unsustainable for independent teams. They can only survive by allying with a major manufacturer. Williams is hinting strongly that they will have to ally with Mercedes and become a B team in all but name in the future. That tells you all you need to know about the current business model and how it impacts independent teams. Until Liberty fixes the entire economic model of F1, these kinds of maneuvers will continue.I think it's means the team's purchase value that will be lower.
You only get the money once.
But the team's intrinsic value as-is will be higher as the payments from F1 are not used to cover the current losses.
The F1 money will be in the books for 2019 (future income).
So for potential buyers this is more interesting. Purchase cheaper and get a better ROI.
If they actually got 42.5% of the company they would seek to sell rapidly to make as much money back force India is loss making so no point in India keeping hold of it.Manjhi wrote: ↑02 Aug 2018, 16:34Why nobody is talking about the Sahara group ?
They also own 42.5% share. Not only that Indian govt has recently got rights to claim on property of Mallya in UK.
It's getting much more complicated than it looks. Will be interesting to see Indian Govt owning an F1 team. HA HA HA
The team's management, backed by a consortium of investors led by Lawrence Stroll, have secured the future of the team