F1 » Mercedes F1 sponsorship dispute resolved


Mercedes Grand Prix seeks to draw a line under its sponsorship dispute with Henkel after an ex-employee of the German consumer products group 'agreed' a deal with the reigning F1 World Champions without authorisation

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richard

December 22, 2009 5:37 PM

after some time researching on wiki, i have come up with the following!
merc were taking action against henkel, for the promised money. henkel knew nothing about it (i never saw an official announcement anyway). when henkel found out that the contract was a scam, they began a fraud investigation.
it looks now, as if merc have agreed to drop their action for cash, leaving henkel to take their own action against their employee. so this probably means that merc have accepted that there is NO contract.but i suppose petronas has softened the blow.

Alan D - Unregistered

December 22, 2009 6:23 PM

Richard, I've seen this described as a scam or a fraud, but I can't work out how anyone was going to make any money out of this. Merc thought the contract was genuine and expected money. Henkel knew nothing about it so wouldn't be coughing up any cash. So what were the people in the middle of this trying to do? Did you get any insight into that when you were researching it?

rob01

December 22, 2009 6:32 PM

Merc is lucky Petronas showed up. It saved more egg on their face thinking a deal had been made with Henkel. What was it done on a cocktail napkin? How could they think Henkel was on board when they had NO paper work. I think anyone near the Merc shop should just walk in and tell them your an employee. They probably wouldn't know. I think they are all running around putting up MS posters and not paying attention.

richard

December 22, 2009 7:05 PM

alan d. the scam was explained about a week ago, and seemed to involve the employee going to banks with the forged contract, and managing , somehow, to get money transferred to his account. i think that a total of 11m had "gone missing". an accountant would be able to explain the ins and outs of the scam

107SS2009

December 22, 2009 9:06 PM

Scam apart, if Henkel or any other sponsor for that matter made a contract with Brawn for three years sponsorship and after that contract Brawn sold out those Brawn have a right to sell that sponsorship contract to the new buyer?

richard

December 22, 2009 9:25 PM

sunny, no, i think that the contract would stand, as it was the TEAM that signed the contract. the fact that there are new investors, and that the team was renamed, would not affect the contract.

Alan D - Unregistered

December 22, 2009 9:44 PM

I still don't get how they would get Henkel to pay money into someone's bank account for a non-existant contract. Obviously I'll never be a master criminal. It would never occur to me to try to scam a company under the full glare of F1 publicitiy using a huge name like Mercedes GP, which would never notice if the money never showed up in its account.

Alan D - Unregistered

December 22, 2009 9:49 PM

"The differences has been resolved by mutual agreement, but what about the sponsorship?"

Sunny, legally speaking I don't think the sponsorship ever existed. If someone who isn't authorised to speak for you signs a contract in your name, I don't think that contract is enforceable. Just because someone works for you doesn't give them any authority to sign contracts for you.

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