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Viaplay Shares Plunge as Investors to Lose Out in Rescue Deal
Viaplay Shares Plunge as Investors to Lose Out in Rescue Deal
Viaplay Group AB dropped more than 80% after striking a rescue deal with its lenders. Before the deal
2023-12-01 19:48
Mark Cuban’s Mavericks Sale Would Boost His Net Worth by $700 Million
Mark Cuban’s Mavericks Sale Would Boost His Net Worth by $700 Million
Mark Cuban has a knack for selling at the top. Take the radio-streaming website he founded, Broadcast.com. It
2023-11-30 04:50
IndyCar champion admits breaching McLaren contract in £18.2m lawsuit over potential F1 seat
IndyCar champion admits breaching McLaren contract in £18.2m lawsuit over potential F1 seat
Two-time IndyCar champion Alex Palou concedes in court documents that he breached his contract with McLaren Racing when the Spaniard did an about-face and stayed at Chip Ganassi Racing, having been the reserve driver for McLaren at F1’s Miami Grand Prix. The admission came in Palou's response to a lawsuit filed against him by McLaren in September seeking to recoup at least $23 million (£18.2m) in losses the team calculated Palou's reversal cost the organisation. Palou's 20-page response was filed in the High Court of Justice Business and Property Courts of England and Wales Commercial Court. The Associated Press reviewed the filing Monday. In the response, Palou says he changed his mind about joining McLaren ahead of the 2024 season when he "lost trust and confidence that (McLaren) genuinely intended to support his ambition to race in the Formula One Series and decided to continue racing with CGR in the Indy Car Series instead." Palou "therefore admits that he renounced his contractual obligations" with McLaren and "the real issue between the parties is as to the quantum of any damages which the Defendants are liable to pay," the documents say. The spat over the 26-year-old between two IndyCar teams began when Palou initially disputed a Ganassi claim that the team had picked up the 2023 option year on his contract. McLaren in July 2022 said it had signed Palou and had him earmarked for an IndyCar seat and a reserve driver role with its Formula One team. Chip Ganassi Racing said it had the contractual rights for Palou for the 2023 season. Palou and Ganassi entered mediation and a resolution was reached a year ago in which Palou would drive for Ganassi in 2023 but was also McLaren's reserve F1 driver when it did not interfere with IndyCar. He was able to participate in a practice session, tested for the F1 team both on track and in a simulator, and was the reserve driver for McLaren at F1's Miami Grand Prix in May. McLaren Racing CEO Zak Brown was contacted Aug. 8 and told by attorneys for Palou that Palou would not be joining McLaren and had instead signed a three-year extension with Ganassi. Palou won the 2021 and 2023 championships with Ganassi and is now signed there through 2026. IndyCar driver Pato O'Ward last week was named Palou's replacement as McLaren's F1 reserve driver and participated in a practice session during the season-ending race weekend in Abu Dhabi. O'Ward is a full-time IndyCar driver for Arrow McLaren Racing. The bulk of Palou's response focuses on McLaren's loss of revenue claims and attempts to mitigate what Palou will owe in damages. The nearly $23 million in damages McLaren is seeking is broken down in future sponsorship tied to Palou joining McLaren, the costs of using him as a reserve F1 driver, how much McLaren spent developing Palou for F1 and a $400,000 advance on his 2024 salary. McLaren is not seeking repayment of legal fees it says it covered for Palou in last year's fight with Ganassi. McLaren has contended Palou signed two contracts: the first with McLaren Racing as the F1 reserve driver and a separate deal with Arrow McLaren to compete in IndyCar for the team while also serving as the F1 backup. Among the damages McLaren is seeking is nearly $15.5 million in lost revenue under official partner agreements with sponsors NTT Data and General Motors that anticipated Palou would be the driver, including $7 million in revenue and prize money from IndyCar itself. "This claim is embarrassing for want of particularity and speculative in the extreme," the response said. "The performance of any team in a future Indy Car Series cannot be predicted with any degree of certainty. Driver performance is variable." The response also disputes McLaren's claim to lost revenues that Palou "would otherwise have earned in relation to the Formula One Series." It notes that claim would only be valid if Palou was actually McLaren's F1 driver, and that Lando Norris and Oscar Piastri are under contract through 2025 and 2026. The response also claims that if Palou was an F1 driver, all the claims to IndyCar financial losses would be moot. McLaren also wants to recoup all money spent on Palou when he was the test driver, both on track and in the simulator, and money it spent seeking a replacement for Palou. O'Ward became Palou's replacement in the F1 role, while David Malukas was hired to fill the open seat in the IndyCar Series. AP Read More MotoGP icon Valentino Rossi returns to competitive motorsport ‘It did not fail’: W Series enters administration Raul Torras Martinez: Spanish rider dies at Isle of Man TT MotoGP icon Valentino Rossi returns to competitive motorsport ‘It did not fail’: W Series enters administration Raul Torras Martinez: Spanish rider dies at Isle of Man TT
2023-11-28 03:56
Lewis Hamilton says Red Bull chief Christian Horner is ‘stirring things’ over team move claims
Lewis Hamilton says Red Bull chief Christian Horner is ‘stirring things’ over team move claims
Lewis Hamilton has denied Christian Horner’s claims that he reached out over a potential move from Mercedes, saying the Red Bull team principal is “just stirring things”. Horner claimed in an interview published on Wednesday 22 November that a representative of the seven-time F1 champion had approached Red Bull earlier this year - before he signed his two-year Mercedes contract renewal. “I don’t really understand what he’s been talking about because no one, as far as I’m aware, from my team has spoken to him,” Hamilton said, responding to the claims. “However, he did reach out to me earlier on in the year about meeting up, but that’s it. I just congratulated them on an amazing year. “So I’m not really sure, I think he’s just stirring things.” Read More Shaq O’Neal ‘ignores’ Martin Brundle at Las Vegas Grand Prix before bizarre response Ronnie O’Sullivan says he started snooker world championship ‘on phone to Samaritans’ Watch: Travis Kelce reads his ‘nonsense’ old tweets that have been going viral
2023-11-24 00:53
F1’s Lando Norris expresses Las Vegas Grand Prix track concerns moments before crash
F1’s Lando Norris expresses Las Vegas Grand Prix track concerns moments before crash
F1 driver Lando Norris expressed his concerns about the Las Vegas Grand Prix track moments before his heavy crash during the race on Sunday (19 November). The McLaren driver lost control of his car at turn 12 of the new Las Vegas Strip Circuit, crashing into the wall, before spinning into the barrier. He told his engineer he was OK and was transferred to the circuit medical centre. In an interview with Sky Sports earlier today, Martin Brundle asked Norris: “How does the track feel?” He replies: “Pretty dreadful, just because it’s the least high temp we have had all weekend. Just because you’re pushing on an out-lap. Normally you don’t push on an out-lap. “It didn’t feel great, it should come back towards us. The track should improve a lot throughout the race.” Read More Adam Johnson’s fans chant his name in special tribute to former ice hockey star Verstappen calls Ocon a ‘stupid idiot’ in F1 Las Vegas Grand Prix qualifying tussle Usain Bolt declares ‘the speed is great’ as he attends F1 Las Vegas Grand Prix
2023-11-19 16:17
Verstappen calls Ocon a ‘stupid idiot’ in F1 Las Vegas Grand Prix qualifying tussle
Verstappen calls Ocon a ‘stupid idiot’ in F1 Las Vegas Grand Prix qualifying tussle
Max Verstappen called Esteban Ocon a “stupid idiot” following a scuffle between the pair at the F1 Las Vegas Grand Prix qualifying race on Saturday morning (18 November). There was a lot of jostling before Turn 14 to try and make a gap, with both Ocon and Verstappen involved. Verstappen looks to dive down the inside into Turn 1, ruining both of their laps. Ocon says: “It’s a joke honestly. Verstappen diving into Turn 1 like crazy.” Verstappen says: “What a stupid idiot.” Read More Usain Bolt declares ‘the speed is great’ as he attends F1 Las Vegas Grand Prix Why Everton have been handed 10 point deduction as Premier League takes FFP stand Watch: Sparks fly as Sainz’s Ferrari hits drain cover on Las Vegas F1 circuit
2023-11-18 17:26
Usain Bolt declares ‘the speed is great’ as he attends F1 Las Vegas Grand Prix
Usain Bolt declares ‘the speed is great’ as he attends F1 Las Vegas Grand Prix
The fastest man in the world has spoken out about being at one of the fastest circuits on the calendar as he attends the F1 Las Vegas Grand Prix. Usain Bolt declared “The speed is great” as he prepared to watch the qualifying races on Saturday (18 November). Speaking to Sky Sports, he said: “Vegas itself is such a big entertainment city, so to actually bring the Formula One here is just brilliant. We have heard about it for a while, so for it to actually happen is beautiful.” The athlete also spoke of his admiration for Britian’s Lewis Hamilton.
2023-11-18 16:57
Bellagio CCTV shows moment Sainz’s Ferrari hits drain cover on Las Vegas F1 circuit
Bellagio CCTV shows moment Sainz’s Ferrari hits drain cover on Las Vegas F1 circuit
Sparks were seen flying from Carlos Sainz’s Ferrari as the first practice session for the highly anticipated Las Vegas Grand Prix descended into chaos. Thursday night’s practice (16 November) was cancelled after just nine minutes when Sainz hit a broken drain cover, damaging his car. CCTV footage from the Bellagio Hotel and Casino, which overlooks the track, shows the moment the Ferrari driver ran over the manhole. Sainz has been handed a 10-place grid penalty for the incident, and his car required repairs ahead of the second practice session, which took place in the early hours of Friday morning.
2023-11-17 21:56
Empty grandstands at Las Vegas GP as chaotic practice session takes place at 3am
Empty grandstands at Las Vegas GP as chaotic practice session takes place at 3am
The grandstands at F1’s Las Vegas Grand Prix were close to empty during Thursday night’s (16 November) chaotic practice. Session one was cancelled after just nine minutes when a broken drain cover damaged Carlos Sainz’s Ferrari. The second practice was subsequently pushed back by over two hours, as officials worked to inspect the track. By the time drivers returned to the circuit - around 2:30am local time on Friday morning, the grandstands were empty. A statement from F1 confirmed that all fan areas were closed at 1:30am - before the second session started - “due to logistical considerations for our fans and our staff”. Read More Ferrari team boss fumes over damage to Sainz car: ‘Just unacceptable’ Jacques Villeneuve becomes first F1 driver to get married in paddock at Las Vegas GP Watch: Sainz hits loose drain cover on Las Vegas track as F1 practice turns to chaos
2023-11-17 21:24
Ferrari team boss fumes over damage to Sainz car in Las Vegas: ‘Just unacceptable’
Ferrari team boss fumes over damage to Sainz car in Las Vegas: ‘Just unacceptable’
An incident with a manhole cover that damaged Carlos Sainz’s car on the Las Vegas Grand Prix track is “just unacceptable”, Ferrari team boss Frederic Vasseur has said. The first practice session on Thursday night (16 November) was cancelled after just nine minutes when Sainz hit a drain cover that had come loose. Vasseur said the car suffered a damaged chassis, engine and battery in the incident, and would miss the second practice session. “I think it is just unacceptable,” he told Sky Sports F1 in the team principal news conference.
2023-11-17 19:22
Las Vegas F1: Jacques Villeneuve becomes first driver to get married in GP paddock
Las Vegas F1: Jacques Villeneuve becomes first driver to get married in GP paddock
Former F1 world champion Jacques Villeneuve married his partner in the Las Vegas Grand Prix paddock on Thursday night (16 November). A wedding chapel was set up so anybody tempted to tie the knot in Sin City could “Race to the Altar” - and Villeneuve took full advantage. His partner Giulia wore a stunning dress for the occasion and the happy couple were then seen posing for photos. Villeneuve’s former Williams engineer, Jock Clear, was best man as the 1997 world champion became the first - and likely last - F1 driver to get married on the track. His wedding came hours before a chaotic first practice session was cancelled. Read More Sainz hits loose drain cover on Las Vegas track as F1 practice session turns to chaos Las Vegas Sphere wears giant F1 helmet ahead of inaugural grand prix F1 cars projected into sky as drone show lights up Las Vegas ahead of grand prix
2023-11-17 17:59
Watch: Carlos Sainz runs over loose drain cover on Las Vegas track as practice session turns to chaos
Watch: Carlos Sainz runs over loose drain cover on Las Vegas track as practice session turns to chaos
F1’s Las Vegas Grand Prix began in disastrous fashion as the first practice session on Thursday night (16 November) was abandoned due to a loose manhole cover. The session had only been going for eight minutes when Carlos Sainz’s car rolled to a stop on the Sin City strip, having suffered substantial floor damage. Onboard footage shows the moment his Ferrari, driving at speeds of over 200mph, went over the loose drain cover. Sainz veered to the side and stopped the car after the impact. A red flag was thrown and soon after, stewards announced the session would not resume. Read More Carlos Sainz breaks Netflix Cup trophy during F1 and golf crossover event Jacques Villeneuve becomes first F1 driver to get married in paddock at Las Vegas GP Luis Diaz’s father weeps in stands as his son scores days after release by kidnappers
2023-11-17 17:45
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