Toro Rosso Back Under 100% Ownership
By Ian Lockwood
November 25 2008
Subject to approval by competition authorities, Red Bull will again take over the 50% share of the Formula 1 Team Toro Rosso that has been owned by Berger Motorsport since 2006. The two friends Dietrich Mateschitz and Gerhard Berger have led their joint motorsports project, which emerged from the former Minardi Team, to its greatest success to date.
November 25 2008
Subject to approval by competition authorities, Red Bull will again take over the 50% share of the Formula 1 Team Toro Rosso that has been owned by Berger Motorsport since 2006. The two friends Dietrich Mateschitz and Gerhard Berger have led their joint motorsports project, which emerged from the former Minardi Team, to its greatest success to date.
The first win in the team's 25 year history was celebrated at the Italian Grand Prix together with Sebastian Vettel, one of the Red Bull Driver Search Program's biggest talents. In the Formula 1 World Constructors' Championship, the Scuderia Toro Rosso achieved sixth (6) place in this year's season.
Before Red Bull took over Minardi, the team regularly held the role of "bringing up the rear" on the Formula 1 track. The team had to be radically overhauled to fulfill the expectations of the new owners. As part of this reconstruction, the assignment of 50% of the shares to Berger Motorsport was necessary. With this transfer, Gerhard Berger brought all his Formula 1 knowledge and connections into the partnership in order to help further develop Toro Rosso. "I am very happy that I can support Didi - who has committed himself to Formula 1 with so much dedication - with the reorganisation of the team and in this process to make use of my knowledge so effectively", said Gerhard Berger.
Didi Mateschitz agrees: "I'm very grateful to Gerhard for his enormous input. Together we have made Toro Rosso a team which, from 2008 onwards, will regularly qualify for the Top Ten and collect Championship Points".
From the beginning, Red Bull was responsible for the financial and technical development of the Team, whereas Gerhard Berger focused on steering the athletic side.
"A 100% financing of a joint project by one partner can only make sense, to my mind, at an initial stage", Gerhard Berger emphasised. "This stage is over now. That's why Red Bull will take over the shares again". "Red Bull will now run Toro Rosso alone on this basis, as well as remaining a partner of Berger Logistik", added Didi Mateschitz.
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StumbleuponToro Rosso Back Under 100% Ownership
Posted by: Racing Bulls (IP Logged)
Date: 25/11/2008 19:41
Toro Rosso Back Under 100% Ownership
Re: Toro Rosso Back Under 100% Ownership
Posted by: dank (IP Logged)
Date: 25/11/2008 20:00
Either Berger couldn't afford to maintain his share in the team, or Mateschitz is looking to make a shrewd sale in the near future?
I'd imagine sales of Red Bull wouldn't be as high as they have been, so underwriting two F1 teams will be a costly venture for Red Bull.
red bullog
I'd imagine sales of Red Bull wouldn't be as high as they have been, so underwriting two F1 teams will be a costly venture for Red Bull.
red bullogRe: Toro Rosso Back Under 100% Ownership
Posted by: Keppel (IP Logged)
Date: 25/11/2008 20:37
To be honest, that makes sense solely because selling an F1 team from one owner is less complicated than trying to negotiate majority shares and what not. Red Bull have indicated they fully own STR, thus they'll find it easier to sell it on.
David Coulthard: From Pitbox to Pundit
Re: Toro Rosso Back Under 100% Ownership
Posted by: growler (IP Logged)
Date: 25/11/2008 22:09
Good point Keppel.
Interesting to note though that it appears that Berger's 50% share of STR did not involve him actually buying anything.
50% of the shares were "assigned" to him, but all financing was always from Mateschitz/Red Bull.
Presumuably the shares have just been "re-assigned" back.
ian.lockwood@racingbulls.net
www.racingbulls.net
Interesting to note though that it appears that Berger's 50% share of STR did not involve him actually buying anything.
50% of the shares were "assigned" to him, but all financing was always from Mateschitz/Red Bull.
Presumuably the shares have just been "re-assigned" back.
ian.lockwood@racingbulls.net
www.racingbulls.net
Re: Toro Rosso Back Under 100% Ownership
Posted by: drunkmunky (IP Logged)
Date: 26/11/2008 00:46
I think Red Bull should just focus on Red Bull, rather than Toro Rosso. If Toro Rosso gets sold to another team, I think the Red Bull team will be much more successful in its coordinated efforts with Renault.
Re: Toro Rosso Back Under 100% Ownership
Posted by: K1 (IP Logged)
Date: 26/11/2008 03:26
my understanding of the original deal was that berger was granted a 50% equity in toro rosso and mateschitz was granted in return a share in bergers transport business to the same value as the 50% value of toro rosso.
if the 50% shares held by berger were returned to mateschitz and he [mateschitz] retains his equity in the berger transport business then berger would have been paid out for that equity now retained.
only guesswork anyway but it does make some sense.
if the 50% shares held by berger were returned to mateschitz and he [mateschitz] retains his equity in the berger transport business then berger would have been paid out for that equity now retained.
only guesswork anyway but it does make some sense.
Re: Toro Rosso Back Under 100% Ownership
Posted by: trollie (IP Logged)
Date: 26/11/2008 09:18
P Didi !!
Re: Toro Rosso Back Under 100% Ownership
Posted by: Duffer (IP Logged)
Date: 27/11/2008 12:59
This will be a move to fit into some legal loophole that benefits both.
Or maybe Gerhard's business is going down the gurgler and Deiter wants out?
Or maybe Gerhard's business is going down the gurgler and Deiter wants out?
Re: Toro Rosso Back Under 100% Ownership
Posted by: chrislinford (IP Logged)
Date: 27/11/2008 20:50
This is all weird to me, the only logic is a business law issue over selling the team. Red Bull supplies the money so there is no change to the team apart, I assume, Berger will not being there. This will be a loss to the team.
However I can not see anyone wanting it, who has the money and the will? There are already two teams to buy.
Also there needs to be 20 cars on the grid for the TV contracts, hence all the cars starting at Indy that dreadful year.
Chris
However I can not see anyone wanting it, who has the money and the will? There are already two teams to buy.
Also there needs to be 20 cars on the grid for the TV contracts, hence all the cars starting at Indy that dreadful year.
Chris
Re: Toro Rosso Back Under 100% Ownership
Posted by: Duffer (IP Logged)
Date: 28/11/2008 10:00
Berger will be there on a salary, not as part owner I assume.
Re: Toro Rosso Back Under 100% Ownership
Posted by: SydneyF1Fan (IP Logged)
Date: 28/11/2008 11:21
My understanding is that Berger is out completely:
[en.f1-live.com]
Quote:Berger told APA that he will no longer be involved at all. "This is no big secret," he explained.
[en.f1-live.com]
Re: Toro Rosso Back Under 100% Ownership
Posted by: Duffer (IP Logged)
Date: 28/11/2008 13:09
Oh, then I guess he wont be... That's odd!
Re: Toro Rosso Back Under 100% Ownership
Posted by: Gunk (IP Logged)
Date: 29/11/2008 02:19
Quote:Duffer
Oh, then I guess he wont be... That's odd!
DM thanked Gerhard for his input.
(Thanks. Bye.)
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