Daniel Riccardo Having Legal Issues

in formulaone •  8 months ago 


Daniel Riccardo looks as though he is heading to court to face his former agent. He is now being represented by CAA which are the Creative Arts Agency who also have Nico Rosberg,Cristian Ronaldo and basketball player Dwayne Wade on their books.

As soon as he joined this new agency his old agent cried foul and is now trying to drag him to the court room. Riccardo is going to fight as he says he has done nothing wrong.

His agent Glen Beavis who had been with him since 2012 is now suing him for $10 Million. This is the proposed earnings that Riccardo will earn over the next two years whilst driving for Renalult. Beavis claims he arranged the Renault deal which Riccardo denies and said it was not part of Beavis's job to meddle with driving contracts.

Riccardo never had a deal with Beavis as Beavis was on a $20 000 Dollar 6 month retainer or $40 000 per year. The 20 percent was never part of any driving contract,but only on the commercial side of the business. If he does an advertising campaign like he recently did with a health food company then Beavis was entitled to 20 percent.

White Dunes was Riccardo's company that included his parents and a close friend and they all say that Beavis is out of line asking for this now.They agree it was discussed back in 2015 and this was never agreed and any driving contract was not part of any deal. Beavis has made up the $10 million by saying he wants a portion of future earnings. If Riccardo wins a race he has it stipulated in his contract that the Formula One car is given to him and Beavis has included that as part of his $10 Million settlement along with win bonuses. I think this is unrealistic as he is driving for Renault currently and a win looks very far off.

The whole thing smacks of desperation and Beavis was stupid enough to accept a $20 000 deal for 6 months then he is looking at pie in the sky trying to claim $10 Million now.

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Hello @cryptoandcoffee, the common denominator here is money, money, money, how sad, the human being here has no meaning or value.

Agree money is the root to all evil. We hate it, but we all need it unfortunately.

That ten million figure is way off. That is the number that the guy was supposed to get. I can seem him asking for 20% of that ten million based on the past dealings they have had, but to ask for the full amount is crazy. He is going to get laughed out of court, if he even makes it that far. Plus like you said, his job only dealt with the promotion side of things. Trying to dig into the driving side of things now is just a desperate schmuck move.

Total shmuck move.

He could try of course but he has no chance in my opinion. When nothing is caught in a contract he has nothing to hold against him does he..

I agree as nothing was ever in writing. It was discussed at one point, but not agreed upon by all parties concerned.

This just matches the general climate of greed and deception that is dominant in F1 for decades now.
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