Rich Energy drop Haas. No...Really. Seriously...
Discussion
Presuming Ed said:
StevieBee said:
In the 90s, there was an energy drink called Hype (in fact there still is only it isn't sold in the UK). The company was set up by one of the guys behind the Hard Rock Caf . They accumulated a shed-load of investment most of which was spent on extreme sports sponsorship including F1. From the outside, it appeared as if they were advertising a product that didn't exist. In fact, they were building brand awareness and using their sponsorship to gain access to various distribution channels around the world - sponsoring Benetton, who at the time were also sponsored by AutoGrill (the Italian Little Chef) and Kingfisher - accessing Indian distribution channels. Clever and would have worked well but issues with production led to the company folding - Betrand Gachot and a few other purchased it and still run it as far as I know.
I had thought that Rich Energy were running to the same play book. But I really think they would have shown their hand by now.
Interesting, I had no idea Gachot had anything to do with Hype, or that Hype were still a thing. He was a great driver back in the day, just in the wrong teams at the wrong time. Less said about the whole road rage thing of course.
Hype are still very much a thing and active still F1. They were a wing sponsor for Racing Point pre AM takeover and I think they're still sponsoring one of the teams today. More info here if you're interested: https://hype.com/since-1994/
As I said, in the early days of Rich Energy, I had thought they were following the same path but as time goes on, it's difficult to see the whole thing as anything other than some clever scam. That said, if one day you walked into a supermarket to find the shelves stacked with the stuff, i'd imagine every can would sell straight away, if for no reason other than curiosity.
It illustrates the lunacy of company / corporate ownership law; shut one business down owing tens of millions, just start another company to do exactly the same thing with the same product, rack up the debts again, rinse, repeat....
...I suppose if you can find enough suckers who believe you've changed, got real money this time, won't fleece you for all your cash...well....
..I wouldn't get involved with RE if they rocked up with a barrowful of untraceable, uncut diamonds.
...I suppose if you can find enough suckers who believe you've changed, got real money this time, won't fleece you for all your cash...well....
..I wouldn't get involved with RE if they rocked up with a barrowful of untraceable, uncut diamonds.
Is it a real debt though? If I promise you 10 quid to put my name on your car and don’t pay it, it cost you the opportunity cost of having someone else paying for that space. But if there was no one else who wanted to pay for that space then it’s no real loss is it. At the time Mazapin and his dad weren’t around so although haas will claim they had sponsors out the door, they really didn’t.
Rich Energy's funding explained - https://www.youtube.com/watch?v=9udNrOh5DyA
CoolHands said:
Is it a real debt though? If I promise you 10 quid to put my name on your car and don’t pay it, it cost you the opportunity cost of having someone else paying for that space. But if there was no one else who wanted to pay for that space then it’s no real loss is it. At the time Mazapin and his dad weren’t around so although haas will claim they had sponsors out the door, they really didn’t.
a. Depends what the contract said, andb. If I go and spend the 10 quid you promised me (via a legally binding contract) on the expectation you were an upstanding citizen and would do what you said you'd do, I'm now 10 quid down as a result of your duplicitousness - and it's all your fault. I want my money, because the guy I promised it to in return for real work, wants his 10 quid.
CoolHands said:
Is it a real debt though? If I promise you 10 quid to put my name on your car and don’t pay it, it cost you the opportunity cost of having someone else paying for that space. But if there was no one else who wanted to pay for that space then it’s no real loss is it. At the time Mazapin and his dad weren’t around so although haas will claim they had sponsors out the door, they really didn’t.
I think they spent money expecting that income and so incurred a debt on Hass that they didn't expect to have when Rich Energy failed to actually give them any money.But, still can't believe an F1 business could be taken in by such an unbelievable t
t.I've just chanced upon it on Twitter:
https://twitter.com/rich_energy/status/15487252880...
https://twitter.com/rich_energy/status/15487252880...
Edited by carinaman on Monday 18th July 02:00
Have they/he gone broke again? The official website linked from the twitter account now points to RICH Distribution Limited this is a different company isn't it, the Amazon cans when available where labelled up as "Rich OMG Ltd" weren't they?
Assume the rest of the season is basically just free promotion for Storey, as scrubbing all the logo's and brand styling will cost the team actual cash vs just running with it.
Assume the rest of the season is basically just free promotion for Storey, as scrubbing all the logo's and brand styling will cost the team actual cash vs just running with it.
b0rk said:
Have they/he gone broke again? The official website linked from the twitter account now points to RICH Distribution Limited this is a different company isn't it, the Amazon cans when available where labelled up as "Rich OMG Ltd" weren't they?
Assume the rest of the season is basically just free promotion for Storey, as scrubbing all the logo's and brand styling will cost the team actual cash vs just running with it.
They were at my workplace last week looking to buy Honda’s F1 hospitality trailer set (twin high rise). Assume the rest of the season is basically just free promotion for Storey, as scrubbing all the logo's and brand styling will cost the team actual cash vs just running with it.
So they must have plans for something…..
the-norseman said:
Rich Distribution set up December 2021 Stephen Dudman is sole director
Alan Lowe is director of OMG racing and Rich OMG Racing
Lightning Volt (previous known as Rich Energy is in liquidation) , "Rich Energy Limited" is under a Steven Lowe.
Interesting Stephen Dudman is the owner of BTC racing. Checking companies house on Rich distribution the “person with significant control” is a company “D & P BEV.” owned by Stephen Dudman. Alan Lowe is director of OMG racing and Rich OMG Racing
Lightning Volt (previous known as Rich Energy is in liquidation) , "Rich Energy Limited" is under a Steven Lowe.
It’s all just a bit convoluted how Storey conducts his business and where the money is or isn’t coming from when the actual product being marketed is not available to buy currently.
Frogmella said:
William Storey announced yesterday that Rich Energy dropped title sponsorship of OMG Racing in BSB..... when they are top of the standings....
Surely the agreement would have been for the entire season?
Is it possible the contract has a performance bonus element that meant more money due? Rich have been with omg for a couple of years so there must have been actual payments being made ?Surely the agreement would have been for the entire season?
All weird as F.
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