Formula 1, Rich Daddies indulging their spoilt sons?
Discussion
TheDeuce said:
How does that work? Council house/affordable housing scheme is not for high earners.
I don't think there's ever been a time where there are zero houses available for sale. Obviously a high earner can afford to buy one rather than be state funded/helped. That's why we refer to them as high earners...
I shall respectfully hand your WTF back to you.
I know people earning six figures with council houses. There are many people earning way more than the salaries needed to buy a starter home in them as well. I don't think there's ever been a time where there are zero houses available for sale. Obviously a high earner can afford to buy one rather than be state funded/helped. That's why we refer to them as high earners...
I shall respectfully hand your WTF back to you.
It's only recently that they've brought in reviews for affordability for new tenancies. Even then that's easy to fiddle in the same way that people fiddle their taxes. As a large chunk of my extended family live in council housing I know all the things that go on and the councils just turn a blind eye to it.
NoUserNameAvailable said:
RSstuff said:
No where near..., handy on the IOM TT, but never stood on the top step.
The TT isn't the only road race. Martin has won multiple road race titles and holds many records.NoUserNameAvailable said:
I know people earning six figures with council houses. There are many people earning way more than the salaries needed to buy a starter home in them as well.
It's only recently that they've brought in reviews for affordability for new tenancies. Even then that's easy to fiddle in the same way that people fiddle their taxes. As a large chunk of my extended family live in council housing I know all the things that go on and the councils just turn a blind eye to it.
I knew of a few people that threw in the keys, when mortgage rates went up to 14% years ago. If they had kids and nowhere to go, often Councils put them in a B&B until a council property became available. After a few years a nice discount under the right to buy scheme, and they were property owners again. And their original mortgage debt ended up being settled for pennies on the pound. It's only recently that they've brought in reviews for affordability for new tenancies. Even then that's easy to fiddle in the same way that people fiddle their taxes. As a large chunk of my extended family live in council housing I know all the things that go on and the councils just turn a blind eye to it.
TheDeuce said:
I suppose technically Stroll Snr paid for Lance's misshaps for a while when he first bought the team, but these days that's all wrapped up in the ongoing costs for a team that is ultimately profitable overall.
In Stroll's case AM F1 are losing a million pounds a week and getting worse as they rack up more debt at higher interest rates.RSstuff said:
NoUserNameAvailable said:
RSstuff said:
No where near..., handy on the IOM TT, but never stood on the top step.
The TT isn't the only road race. Martin has won multiple road race titles and holds many records.thegreenhell said:
Most riders have never stood on the podium at the TT, let alone the top step. GM has at least a few TT podiums to his name.
True, and not many BSB or MotoGP riders have got the balls to race at the TT. I don't know why GM didn't win a TT. Bad luck, bike not fast enough or riders in front of him were just faster. TheDeuce said:
INeedAHero said:
Lando Norris was a rich kid. His dad paid $40m dollars IIRC I read somewhere.
In the early days he paid for Sim use at Mclaren and then bought a seat in 2015(?). Now I guess Mclaren will pay him.
Unfortunately, someone has to pay for the engine, tyres and crashes that happen in F1 and it's deffo not the team principle. That's usually the dad.
Oliver Bearman is paying for his Hass seat, as did Schimacher, Mick. Everyone pays.
Alex Albon is paying for his Williams seat and I would imagine Sainz also paying for his. Otherwise Williams would just get another paid driver.
Lance Stroll managed to get a pole position. Many talented drivers don't do that.
Bassicly until you can prove that you are exceptional you will be paying to drive. Either daddy or sponsorship.
I don't think Lando's or any other drivers Dad have paid for anything once they're actually in F1. Once you get an F1 seat, you're getting paid and the team picks up the damage bill.In the early days he paid for Sim use at Mclaren and then bought a seat in 2015(?). Now I guess Mclaren will pay him.
Unfortunately, someone has to pay for the engine, tyres and crashes that happen in F1 and it's deffo not the team principle. That's usually the dad.
Oliver Bearman is paying for his Hass seat, as did Schimacher, Mick. Everyone pays.
Alex Albon is paying for his Williams seat and I would imagine Sainz also paying for his. Otherwise Williams would just get another paid driver.
Lance Stroll managed to get a pole position. Many talented drivers don't do that.
Bassicly until you can prove that you are exceptional you will be paying to drive. Either daddy or sponsorship.
I suppose technically Stroll Snr paid for Lance's misshaps for a while when he first bought the team, but these days that's all wrapped up in the ongoing costs for aj team that is ultimately profitable overall.
Here's the fundamental issue with motorsport.
It takes time to get good. Time where you won't be paid.
Even in an all-cars-equal series, give someone an extra weeks practice, of course they'll be better.
Being able to take the time out means having someone to fund you. Maybe eventually you can get paid, but that's only after putting in lots of hard graft.
With all the will in the world, motorsport is just skewed to those with more resources.
When even some of the F1 grid is drivers paying to be there, you know it's a problem.
It takes time to get good. Time where you won't be paid.
Even in an all-cars-equal series, give someone an extra weeks practice, of course they'll be better.
Being able to take the time out means having someone to fund you. Maybe eventually you can get paid, but that's only after putting in lots of hard graft.
With all the will in the world, motorsport is just skewed to those with more resources.
When even some of the F1 grid is drivers paying to be there, you know it's a problem.
It was ever thus . I remember tales of drivers like Piquet and Senna -neither short of talent- would buy then test many sets of new tyres to give them an edge in junior formulae (F3, FF1600 etc) . Both came from well off backgrounds , which certainly doesn't inhibit natural ability .Of course there's something comic book appealing about drivers like Mansell and Tommy Byrne, but dirt under the fingernails and strong accents don't make you faster .
Interesting quote from Martin Brundle regarding Lewis' route to F1:
"These days that platform of opportunity requires either massive wealth in the family or outstanding talent. Take the example of Lewis Hamilton. It’s often portrayed that he had a tough route to F1 but actually he had a magic-carpet ride. To navigate all the championships up to F1 without sponsorship you’ve got to have six million lying about."
"These days that platform of opportunity requires either massive wealth in the family or outstanding talent. Take the example of Lewis Hamilton. It’s often portrayed that he had a tough route to F1 but actually he had a magic-carpet ride. To navigate all the championships up to F1 without sponsorship you’ve got to have six million lying about."
NoUserNameAvailable said:
Interesting quote from Martin Brundle regarding Lewis' route to F1:
"These days that platform of opportunity requires either massive wealth in the family or outstanding talent. Take the example of Lewis Hamilton. It s often portrayed that he had a tough route to F1 but actually he had a magic-carpet ride. To navigate all the championships up to F1 without sponsorship you ve got to have six million lying about."
I don't think it was that simple. His dad had 3 jobs at one time. Even his maiden year in F1 was against the raging Alonso. Mclaren could have easily pulled to one side and asked wtf are you doing."These days that platform of opportunity requires either massive wealth in the family or outstanding talent. Take the example of Lewis Hamilton. It s often portrayed that he had a tough route to F1 but actually he had a magic-carpet ride. To navigate all the championships up to F1 without sponsorship you ve got to have six million lying about."
INeedAHero said:
I don't think it was that simple. His dad had 3 jobs at one time. Even his maiden year in F1 was against the raging Alonso. Mclaren could have easily pulled to one side and asked wtf are you doing.
Why would Mclaren have pulled him aside and asked that? Lewis would have only answered, 'Beating Alonso a lot of the time.' INeedAHero said:
NoUserNameAvailable said:
Interesting quote from Martin Brundle regarding Lewis' route to F1:
"These days that platform of opportunity requires either massive wealth in the family or outstanding talent. Take the example of Lewis Hamilton. It s often portrayed that he had a tough route to F1 but actually he had a magic-carpet ride. To navigate all the championships up to F1 without sponsorship you ve got to have six million lying about."
I don't think it was that simple. His dad had 3 jobs at one time. Even his maiden year in F1 was against the raging Alonso. Mclaren could have easily pulled to one side and asked wtf are you doing."These days that platform of opportunity requires either massive wealth in the family or outstanding talent. Take the example of Lewis Hamilton. It s often portrayed that he had a tough route to F1 but actually he had a magic-carpet ride. To navigate all the championships up to F1 without sponsorship you ve got to have six million lying about."
Anthony Hamilton was a highly-paid IT manager (he later left that job and set up his own business contracting to high-paying businesses, to help manage his time better and increase his income). He owned a large house in an upmarket area, and had no problem funding the addition of a garage when he wanted more space.
He had a close friend who owned a double-glazing firm, so to help him out, he tried a bit of door-to-door selling in his free time. He helped out another friend who was an estate agent by installing For Sale boards, supposedly taking only 50p per board in payment. In the myth of "I'm a poor boy from the slums", this became "my dad worked 3 jobs at the same time".
You could say he wasn't a millionaire either, but things are always portrayed as being at one of the two extremes. Like most people in reality, they were somewhere in between - but, like everybody in F1, closer to the rich extreme than the poor one.
okgo said:
In the context of motorsport money, everything you ve said there is basically a piss in the ocean income wise.
True, but it sounds that way because of the story we've become used to hearing. I'm mainly answering the myth of the "3 jobs". He had one proper job, which was far, far more senior and highly paid than the simplified description of "IT Manager" makes it sound, but that doesn't suit the more marketable image of a poor-boy-made-good. It was enough wealth to get Lewis up the motorsport ladder, to a point where a top team could see his talent and choose to take him the rest of the way.Edited by alphabanana on Sunday 12th July 13:02
alphabanana said:
okgo said:
In the context of motorsport money, everything you ve said there is basically a piss in the ocean income wise.
True, but it sounds that way because of the story we've become used to hearing. I'm mainly answering the myth of the "3 jobs". He had one proper job, which was far, far more senior and highly paid than the simplified description of "IT Manager" makes it sound, but that doesn't suit the more marketable image of a poor-boy-made-good. It was enough wealth to get Lewis up the motorsport ladder, to a point where a top team could see his talent and choose to take him the rest of the way.
you need to have a surplus of maybe 10 or 15 mill these days I think to properly fund a kid through karting and into the higher echelons, if they are good they attract sponsors, or pick up a talent ladder which will help, but guys like Norris, Rearrange, have rich enough parents to make the difference between taking a drive, and taking the best drives, that is really what backing means in most cases
I think there's a huge difference between being an IT manager and families like Strolls (billionaire), Norris (hundreds of millions), Bearman/ Piastri and Sainz (many tens of millions)?
Still hugely impressive how LH got to F1 imo. And it certainly wouldn't have happened without McLaren/ Mercedes.
Still hugely impressive how LH got to F1 imo. And it certainly wouldn't have happened without McLaren/ Mercedes.
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