Nyck De Vries won’t have to return €250,000 to his previous sponsor!
The trial of Nyck De Vries has come to an end and the verdict has been pronounced! Nyck won’t have to return €250,000 to his previous sponsor!
A little background if the perception is new to you
In a post published on 20.1, I told you that in 2018 Nyck took a loan from the Dutch Investment company for a total of 250,000 euros to enter the Parma team in Formula 2 and increase his chances of reaching Formula 1.
According to reports, the deal between Investment and Nyck came in with a 3% per year interest payment and a portion of De Vries’ future income in Formula 1 (rumor says 50%) and if he doesn’t reach the Big League by the end of 2022 – the loan will be cancelled altogether!
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As stated, Nick has signed for the 2023 season with Alpha Tauri.
Nyck, who has already paid 190,000 euros to the Dutch company, thought that because he did not make it to the premier league in 2022, the loan will be erased as agreed.
But the CEO of the Dutch company, argued in court that De Vries did not provide them with the necessary information about his earnings and contracts during the loan period and that last year, 2022, when Nyck served as the substitute driver of the Mercedes group, was a year that was considered official work for the Formula 1 group and Nyck was officially part of Out of the league.
Nyck of course denied all allegations and claimed that he provided all of the information he was required to provide regarding his contracts.
“Everything shows that Dutch Investment can’t stand the fact that de Vries became a Formula 1 driver in 2023, not in the last year of the agreement” his lawyers said.
He also claimed that another decisive factor in the affair was that Nyck politely rejected Schuster’s offer to be Nyck’s personal manager in Formula.
The verdict as stated, came today and determined that Nyck didn’t need to return the money and he is free to go.