Post by TC Ink on Dec 2, 2008 8:56:05 GMT 10
Skaife sells HRT back to Walkinshaw
Release date: 02/12/2008
A week out from his last ever fulltime appearance in the category, Mark Skaife has rocked the V8 Supercar world by handing the ownership of Holden Racing Team (HRT) to Tom Walkinshaw.
In a joint statement sent to media last night, Skaife and Walkinshaw said they had reached an agreement after weeks of talks for Walkinshaw to take full ownership and running of HRT.
The decision is subject to approval by the V8 Supercars Australia (VESA) board, but the decision is effective immediately.
It came after News Limited ran stories in metropolitan daily newspapers yesterday claiming Skaife was $3.6 million in debt to Walkinshaw, who until yesterday had half a stake in Skaife’s company Skaife Sports, which holds the HRT licences.
Skaife later claimed his negotiations with Walkinshaw were “inaccurately reported just as we were reaching agreements in the best interests of Holden Racing Team”.
The statement released in damage control after the reports, says that the details of the sale are confidential, but “no debt or other outstanding financial commitments will remain in relation to Skaife’s team involvement”.
“Walkinshaw has requested Skaife to remain as an ambassador for the Holden Racing Team, reflecting his achievements for the team and the sport,” the statement read.
“In addition, Skaife will remain as a major ambassador for the Holden brand and its products.”
Early last year, Skaife Sports had to prove to the then Touring Car Entrants Board of Australia (TEGA) that the company owned HRT.
At the time, TEGA (which has since merged with the VESA board) said Walkinshaw was not approved “as a person suitable to hold a controlling interest in a (V8) licence nor hold a licence in his own right”.
It followed the demise of Walkinshaw’s Formula One Arrows team which went broke in 2002.
Skaife announced his retirement as a fulltime driver for HRT in October and BigPond Sport understands at least one team has since courted the five-time Bathurst and Touring Car Champion to come on board in an advisory capacity for 2009.
The shock announcement will leave Skaife free to concentrate on his final round of fulltime racing at the NRMA Motoring and Services Grand Finale at Oran Park this weekend.
In the statement, Walkinshaw said he welcomed the resolution and that he and Skaife looked forward to an exciting future for HRT.
Holden Chairman and Managing Director, Mark Reuss, said the outcome would help to keep HRT as a benchmark racing team while ensuring Skaife retained involvement with the brands he had represented for so long.
Author:Briar Gunther
Source:BigPond Sport - copyright
Release date: 02/12/2008
A week out from his last ever fulltime appearance in the category, Mark Skaife has rocked the V8 Supercar world by handing the ownership of Holden Racing Team (HRT) to Tom Walkinshaw.
In a joint statement sent to media last night, Skaife and Walkinshaw said they had reached an agreement after weeks of talks for Walkinshaw to take full ownership and running of HRT.
The decision is subject to approval by the V8 Supercars Australia (VESA) board, but the decision is effective immediately.
It came after News Limited ran stories in metropolitan daily newspapers yesterday claiming Skaife was $3.6 million in debt to Walkinshaw, who until yesterday had half a stake in Skaife’s company Skaife Sports, which holds the HRT licences.
Skaife later claimed his negotiations with Walkinshaw were “inaccurately reported just as we were reaching agreements in the best interests of Holden Racing Team”.
The statement released in damage control after the reports, says that the details of the sale are confidential, but “no debt or other outstanding financial commitments will remain in relation to Skaife’s team involvement”.
“Walkinshaw has requested Skaife to remain as an ambassador for the Holden Racing Team, reflecting his achievements for the team and the sport,” the statement read.
“In addition, Skaife will remain as a major ambassador for the Holden brand and its products.”
Early last year, Skaife Sports had to prove to the then Touring Car Entrants Board of Australia (TEGA) that the company owned HRT.
At the time, TEGA (which has since merged with the VESA board) said Walkinshaw was not approved “as a person suitable to hold a controlling interest in a (V8) licence nor hold a licence in his own right”.
It followed the demise of Walkinshaw’s Formula One Arrows team which went broke in 2002.
Skaife announced his retirement as a fulltime driver for HRT in October and BigPond Sport understands at least one team has since courted the five-time Bathurst and Touring Car Champion to come on board in an advisory capacity for 2009.
The shock announcement will leave Skaife free to concentrate on his final round of fulltime racing at the NRMA Motoring and Services Grand Finale at Oran Park this weekend.
In the statement, Walkinshaw said he welcomed the resolution and that he and Skaife looked forward to an exciting future for HRT.
Holden Chairman and Managing Director, Mark Reuss, said the outcome would help to keep HRT as a benchmark racing team while ensuring Skaife retained involvement with the brands he had represented for so long.
Author:Briar Gunther
Source:BigPond Sport - copyright
