Daniel Riccardo Having Legal Issues

in formulaone •  8 months ago 

xk8c61zp2a.jpg
source

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.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

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

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.
To everybody who is interested in good and interesting formula car racing, I can only recommend to watch the ABB Formula E racing series. There you see the future of car racing, with electric formula cars, top league drivers who come from F1, Indycar and DTM, and big name teams like Audi, BMW and Jaguar as well as the new highly motivated teams from China and India.
Right now the have their season break, but there is lots of stuff to watch on their YouTube channel: https://www.youtube.com/channel/UC-DuRqsBQOEk_5o1q4Ze-Fg

Thanks. I will take a look. I believe Formula One will eventually be all electric at some pint as well. The advancements that they have made is astonishing when it comes to development. I don't think anyone will take over Formula One but I like all motor racing so will definitely look up your link.

Yes, please do that. I find this series very interesting to watch, lots of action, new racetracks (mainly in cities) high profile drivers like Massa, Buemi, van Dorn, Paffett, Lotterer, Abt, Mortara, just to name a few.
A also think electric will be a big thing in racing soon, in various car series and even in motorbikes. At least for the shorter races, up to 1 hour or so.

Thanks for using eSteem!
Your post has been voted as a part of eSteem encouragement program. Keep up the good work! Install Android, iOS Mobile app or Windows, Mac, Linux Surfer app, if you haven't already!
Learn more: https://esteem.app
Join our discord: https://discord.gg/8eHupPq

Congratulations! This post has been manually curated by @sportscurator and will be showcased in the Sports Curator Daily curation feature post. "The Sports Curation project is an initiative to curate for the Sports related contents in the SportsTalk Social platform."