‘Unfortunately, Derrick was not able to contribute anything other than management skills, and moving forward there was a requirement for real cash to be contributed. Derrick advised in mid-February even if he were to finalise matters with GFW satisfactorily to his requirements, he was in no position to contribute capital, nor did he have any sponsors which could come on-board to underwrite his desires.
‘I have not misled Derrick Walker and/or Walker Racing in any form. Derrick provided me with an unacceptable budget and costings with nefarious funding schedules to continue in 2008, and he has constantly advised he was moving on with other sponsors if I didn't agree.
‘I have not at any time attempted to disband the company or steal drivers or staff. I have never directly or indirectly had any conversations or engagement with staff of GFW, even during the period where the staff were employed directly by me.
‘In fact, Derrick signed Will Power in mid-February without my knowledge or consent to operate independently to GFW – a breach of his duty to GFW, myself and the parties he was purporting to deal with [this was a short-term contract in which Derrick failed to fulfil certain criteria – Will was automatically released after the required deadline and then signed to race with Team Australia and KV Racing Technology].
‘Once this was disclosed to me, I severed all ties with Derrick Walker. I did try to involve him in the new team, but he was not prepared to work for others or with others, and he wanted to continue operating as Walker Racing. He was not prepared to sell his factory, shut down his team and merge. He was insistent on operating the team from Walker Racing premises and his conditions of funding were ludicrous, fanciful and self-serving to say the least.
