14.2 C
Friday, September 22, 2023

Nyck de Vries Faces Legal Challenge as 2023 F1 Season Approaches

Jeroen Schothorst is suing the AlphaTauri driver for breaking the terms of a loan

Must read

Aditya Saikrishna
Aditya Saikrishna
I am 21 years old and an avid Motorsports enthusiast.

NETHERLANDS: A Dutch businessman is suing AlphaTauri’s Nyck de Vries for allegedly failing to return a loan. He has found himself in the middle of a legal issue in the Netherlands. De Vries will debut as a full-time F1 driver with AlphaTauri in the Bahrain Grand Prix in March.

Jeroen Schothorst sues Nyck de Vries

The former Formula E World Champion is purportedly being sued by real estate millionaire Jeroen Schothorst for allegedly breaking a debt repayment deal when he was competing in lower motorsport levels, according to claims in Dutch media.

- Advertisement -

Schothorst is believed to have given him a loan of €250,000 in 2018, as reported by media sources, to assist in funding a transfer to Formula 2 with the Italian team Prema.

According to the study, Schothorst also claimed 50% of de Vries’ earnings from F1-related operations, with an interest rate of 3% annually.

- Advertisement -

Although the agreement provided that the lender would cancel the loan installments if De Vries was not an F1 driver in 2022, the two parties apparently disagree on whether he should be considered an “F1 driver.”

Schothorst’s argument contends that the loan repayment agreement is still in effect because he served as Mercedes’ backup driver and filled in for the injured Alex Albon at Monza for Williams.

- Advertisement -

According to De Vries’ attorney, the Dutch driver has repaid Schothorst a total of €190,000, although he did not join the F1 team in time for the original arrangement to be upheld.

A potential distraction for the rookie before his first full season on the grid, Schothorst has already initiated procedures against De Vries. According to reports, the real estate mogul wants to recoup 50% of De Vries’ 2023 salary from AlphaTauri/Red Bull.

Everything indicates that Investrand (Schothorst’s investment business) cannot accept that the Dutch driver entered the F1 in season 2023 rather than the final year of the contract, according to his attorney Jeroen Bedaux.

Schothorst had previously been associated with F1 through a sponsorship deal with Dutch driver Giedo van der Garde, supported by McGregor Fashion Group, owned by Investrand.

Also Read: Abu Dhabi GP: Max Verstappen Ends Record-breaking Season with 15th Victory


- Advertisement -


- Advertisement -

Trending Today