Despite great popular support and an exciting early career in racing, Justin Wilson was unable to secure sponsorship to pay for his Formula One career. Recently, the Minardi Formula One team had signed him, but Wilson was required to bring a personal budget of $ 2.5 million for him to pay his way in the 16-race 2003 season. During the Australian Grand Prix unveiled an innovative system to let Justin investors and racing fans buy shares in a company (Justin Wilson plc), set with h … Read more »

Despite great popular support and an exciting early career in racing, Justin Wilson was unable to secure sponsorship to pay for his Formula One career. Recently, the Minardi Formula One team had signed him, but Wilson was required to bring a personal budget of $ 2.5 million for him to pay his way in the 16-race 2003 season. During the Australian Grand Prix, Justin revealed to have an innovative system investors and racing fans buy shares in a company (Justin Wilson plc), with his manager Jonathan Palmer set to increase as a way to get the $ 2 million he still needed . Justin Wilson plc shares were offered to the public for 1 British pound per share. The company had the rights to all future income from Justin’s Formula One career for a period of 10 years, after investors doubled their initial investment and have been paid, would receive 10% of this income. This was to have a security interest? A 2004 EFMD winner.
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from
Benoit Leleux,
Katrin Siebenburger
Source: IMD
17 pages.
Release Date: 1 January 2003. Prod #: IMD211-PDF-ENG
Justin Wilson plc: The financing of a Formula One Rising Star (A) HBR case solution

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