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Posts with tag richards

NO SOUP FOR YOU! Prodrive-McLaren deal cancelled

If you've got your money on Prodrive making an unprecedented F1 debut next season, we'd recommend calling your bookie and changing your bet. The British racing consultancy was preparing to hit the grand prix circuit using equipment obtained through a deal with McLaren, but the agreement that was all but dotted and crossed has reportedly fallen apart.

Neither Prodrive nor McLaren have yet to comment, but according to Autosport.com, the deal is off. As we'd reported previously, Prodrive were to become an effective second McLaren team by using the same chassis next season, but that all depends on the FIA Court of Appeal's ruling on the legality of such an arrangement. That procedure was, according to Prodrive chief David Richards – also chairman of Aston Martin and former lyteam principal at first Benetton and then BAR-Honda – was the last obstacle standing between the new team and its fight for podiums in 2008. It would appear, however, that McLaren is less than confident that the regulatory body will rubber-stamp the customer-car deal, as they've reportedly told their employees not to prepare the additional Prodrive cars.

Mad props to our reader andybee for the tip!

[Source: Autosport]

One of Aston's new owners puts F430 and Gallardo on notice

Now this is what we're talking about. A couple of days ago, Kuwati Investment Dar was discussing its intention to sell its share of Aston Martin. John Sinders, the American investment banker who also backed Dave Richards, is talking about the kinds of things we like to hear about Aston: racing, one-offs, lightweight variants, and limited editions.
Sinders says his role is to help build the brand, enlarge the dealer network, and to develop better engines that, with Bez at the helm, would remain naturally aspirated. Then he says a single-make race series is being discussed (check out the Vantage N24), and he wants to get Aston back in the ALMS -- but Aston won't enter Formula 1. He outlined a 4-model range for Aston: sports car (Vantage), GT (DB9), sport sedan (Rapide), and a halo car (Bond, anyone?), with the efforts going into developing those cars to be the best in their classes. And he nixed an SUV. But Aston doesn't just want a sports car: "We want to build the best sports car in the world. We fully intend to go straight at the Ferrari F430 and the Lamborghini Gallardo." The Vantage will need to spend quite a bit of time at the gym and the trainer's to pull that off, but there's an adjective to describe those kinds of words: fighting. We say, bring it. Click the link to check out the full interview.

[Source: Automobile magazine]

Kuwait firm puts Aston Martin stake in play for sale

The ink isn't dry on the contracts and the ownership transfer won't even be complete for another thirty days. However, Kuwaiti firm Investment Dar and its partner Adeem Investment Company are planning to put their stake up for sale. The consortium that purchased Aston was led by Dave Richards, backed by the Middle Eastern firms and American banker John Sinders. Using the best numbers we could find, Aston was sold for 479 million pounds, Investment Dar put up 240 million pounds, international banks pitched in 200 million pounds, and Ford retained a 40 million pound share. We don't know where the extra one million large went, but those are the numbers.

Investment Dar is the largest listed investment company in the Gulf. It says it has been getting bids daily and that it has planned to sell the stake, but we wonder if everyone knew that a sale would be in the cards and publicized so soon. According to Reuters, the Dar sale could happen any time, though it hasn't identified any bidders, and the firm would expect to make at least 20% profit. However, another story reports that Dar won't sell for at least a year and expects to make a 100% return on its investment. In the mean time, the company will help Aston focus on new models and expand its dealer network. Either way, we hope that this doesn't create any more instability for a great company getting back on its feet. And we really hope it doesn't do anything to interrupt the arrival of the Rapide.

[Source: Reuters]

Could Aston Martin join Prodrive in F1?

Aston Martin in F1? Not likely, but that won't stop some from speculating. And being the diligent reporters we are, we'll search high and low (and in foreign languages) to bring to you the latest in motor news.

The speculation comes out of the arrival of David Richard's Prodrive outfit re-entering the grand prix paddock. Prodrive is essentially a racing consulting firm, offering automotive manufacturers the opportunity to go racing without developing and implementing their own racing program. Prodrive's responsible for Subaru's rally success, took the 550 Maranello endurance racing for Ferrari and implemented Aston Martin's racing program as well, to mention a few. Richards was hired to overhaul Honda's F1 team, and after delivering results sooner than expected, was shown the door.

Richards has claimed Prodrive has no interest in racing under their own banner, so eyebrows were raised when the British outfit secured their own entry into F1. But while Richards has stated they're considering a number of potential partners, he remains understandably tight-lipped about who that might be, leaving the motoring press to speculate. Of Prodrive's major previous clients, Ferrari and Honda have teams of their own and Prodrive's already forged Subaru's racing image in rallying. That leaves Aston Martin, whose involvement could be as simple as buying Cosworth engines and rebadging them as their own (which is hardly unheard of in F1). Ironically, Aston's impending separation from Ford could help their chances of entering F1, after Ford pulled sister-company Jaguar out of racing several years ago and would have little interest in re-entering under the Aston banner. One thing's for sure: if Aston Martin does end up being the client, Prodrive will have one hell of a time trying to make an F1 car look like every other Aston.

Another potential client could be Nissan, tipped to be entering F1 themselves (likely in closer partnership with Renault) or Hyundai, which hopes to be on the grid by the time their home-turf Korean Grand Prix joins the circus in 2010. (Unfortunately, due to budgetary restrictions, AutoblogF1 just isn't in the cards.)

[Sources: Le Blog Auto (French) and Crash.net]


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