In any form of motorsport, manufacturers come and go, but the sport continues to be shaped by the teams and the major players that lead them. So when Subaru packed up and left the World Rally Championship, you knew it was only a matter of time before David Richards and his company Prodrive would be back on stage. Now it looks like that opportunity could come from Toyota.
Whatever the outcome of the standoff between the Formula One Teams Association and the FIA, it was clear from the get-go that F1 was to change dramatically. As it turned out, the two parties – the first representing the teams currently participating in the sport and the second its governing body – have apparently reconciled their differences.
Aston Martin chairman David Richards has admitted that his company is in danger of a "technical breach of its banking covenants" sometime later this year. The situation could, technically, lead to the banks which financed the acquisition of the British sportscar-maker repossessing it.
Now that Ford is no longer in control of Aston Martin, AutoCar had a chat with new AM Chairman David Richards about the future of the no-longer-as-exclusive, but still very expensive British car maker. Richards made clear that Ulrich Bez is still very much in charge of day to day operations at Aston, and he represents the owners and helps plot strategy. The company that produced only a few hundred cars a year as recently as fifteen years ago is now closing in on five figure annual sales.
The deal is done, and it happened exactly the way everyone expected it to. Ford Motor Company has sold Aston Martin to a consortium led by Prodrive founder David Richards, Aston Martin collector John Sinders, and Investment Dar and Adeem Investment Co, two international investment companies headquartered in Kuwait. The sale price is for $925 million, and Ford will retain a $77 million stake in the sports car maker, which pegs the brand's worth at just over $1 billion which means Ford will actual
The Detroit News just reported that the winning bid for Aston Martin might be a little lower than we originally thought. The group of investors led by Prodrive's David Richards is about to close the deal for about £450 million ($870 million). That's a full 10 percent lower than we just reported yesterday. The £500 million guess would have been half of Ford's initial asking price for the British luxury sports car maker. Whatever the final price, we still believe Ford will keep an inte
Coming out of Geneva along with the exodus of automotive journalists are reports that a sale of Aston Martin is imminent, and that the likely winning bid has come from a consortium headed by Prodrive founder David Richards. The expected bid is rumored to be around $965,800,000 (£500,000), or about half of what Ford Motor Co. was hoping to get for its most premium of brands. Ford is expected to retain an interest in Aston Martin since it's still the brand's number one supplier of parts, and