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.
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.
www.racingbulls.net
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.
- dank
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.
www.racingbulls.net
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.
Or maybe Gerhard's business is going down the gurgler and Deiter wants out?
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
Quote:Berger told APA that he will no longer be involved at all. "This is no big secret," he explained.
[en.f1-live.com]
Quote:Duffer
Oh, then I guess he wont be... That's odd!
DM thanked Gerhard for his input.
(Thanks. Bye.)