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Old 02-21-2007, 08:42 AM   #1
NYCshopper
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Default Prodrive Founder "David Richards" drives £450m Aston Martin Bid

Prodrive Founder "David Richards" drives £450m Aston Martin Bid

http://ftalphaville.ft.com/blog/2007...on-martin-bid/

Quote:
David Richards, founder of Prodrive, the motor sport group, is spearheading a consortium that is one of three bidders left in the running for Aston Martin, according to people involved in the process. Prodrive already runs Aston Martin’s racing team and is in the process of setting up a Formula One team. The team, advised by Jefferies, the US investment bank, is understood to have submitted an offer of about £450m in the final round of bidding for the sports car maker, and is competing against Doughty Hanson, the buy-out group, and Simon Halabi, the Syrian-born property tycoon. Mr Richards is understood to be working with a group of wealthy investors from the US and Middle East, including Naeem Capital, part of an Egyptian investment bank. Apax, the private equity group, owns a 49 per cent stake in Prodrive but is not thought to be working with Mr Richards on the Aston Martin deal.


Side Note:

http://www.prodrive.com/level3.html?id=7

Quote:
Prodrive has been working with Aston Martin since 2004 to develop the Aston Martin Racing programme which has seen the famous British marque’s return to international sports car racing.

We are fully responsible for all aspects of the programmes, from the design and development of the DBR9 to running the works team in sports cars series across the world, including the Le Mans 24 Hours.

The team first competed at the 12 Hours of Sebring in 2005 and was victorious on its first outing. The team then won its second race at Silverstone in the FIA GT series, which was also the centenary of the Tourist Trophy. The team was on course for a class victory at its first outing at the Le Mans 24 Hours in June, but some overheating problems meant that the team had to settle for third place.

Aston Martin Racing is currently involved in a testing and development schedule and will be running at Le Mans in June.

We also run a customer car programme for the GT1 DBR9 and the GT3 DBRS9. More details on these cars and programmes can be found in the Customer Race Programmes section.
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Old 02-21-2007, 08:51 AM   #2
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Did someone mention Prodrive?
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Old 02-21-2007, 11:14 AM   #3
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That sure beats being bought by LV.

Ed
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Old 02-21-2007, 11:47 AM   #4
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It would mean Prodrive would be even farther away from rally in general and Subaru in particular. The focus on setting up a Formula 1 team has already pulled away a lot of resources. But it is a good step up for the company. They could turn Aston Martin into an interesting brand with thier racing and engineering focus. It probably depends a lot on how much money they'll have left if they get the brand.

On the other hand, maybe they'll make a rally Aston
yeah, right
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Old 02-21-2007, 12:06 PM   #5
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Quote:
Originally Posted by Yotsuya View Post

On the other hand, maybe they'll make a rally Aston
They did already,

http://www.autoblog.com/2006/10/02/a...-the-rally-gt/

Aston Martin and Prodrive develop the Rally GT

Quote:
Independent (and deep-pocketed) rally racing teams have a new machine available to them thanks to the people at Aston Martin and Prodrive. The Aston Martin Rally GT is being touted as the world's most exclusive rally car, and why not? It's not as if rally-prepped Vantages are a common sight.

Developed by Aston Martin Racing, the partnership between the famed British marque and the motorsports gurus at Prodrive, the Rally GT is derived from the production V8 Vantage. It uses the road car's chassis and transmission as well as a retuned version of the Vantage's 4.3-liter V8. Prodrive adds a rollcage of its own design to the structure and replaces the shocks and springs with equipment more suited to the demands of rallying. Teams can also elect to have the stock gearbox replaced by one designed specifically for the Rally GT.

The Rally GT's development process included real racing, as you'd expect. It placed second in its class (17th overall) at the 2006 Lyon-Charbonnières Rally, with Subaru World Rally Team co-drivers Stéphane Sarrazin and Stéphane Prévot behind the wheel ( the pair are SWRT's asphalt specialists). Sarrazin is also one of the co-drivers of the #009 Aston Martin DBR9 familiar to anyone who follows Le Mans and the American Le Mans Series.




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Old 02-21-2007, 01:16 PM   #6
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Aston Martin run by Prodrive would compete with Ferrari, as a racing company that just happens to profit from selling street cars.
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Old 02-21-2007, 01:22 PM   #7
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Aston powered F1 car? Does the regulation allow for it since engine development is frozen?
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Old 02-21-2007, 02:11 PM   #8
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Quote:
Originally Posted by bemani View Post
Aston powered F1 car? Does the regulation allow for it since engine development is frozen?

where in gods name did F1 come from?

i can only hope that jefferies syndicates the purchase to banks.
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Old 02-21-2007, 03:26 PM   #9
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Yeah, I only meant competition with Ferrari on the open car market.. not the Gran Prix.
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Old 02-21-2007, 04:24 PM   #10
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Quote:
Originally Posted by owace View Post
where in gods name did F1 come from?

i can only hope that jefferies syndicates the purchase to banks.

Prodrive is entering F1 in 08.
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Old 02-21-2007, 07:06 PM   #11
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Quote:
Originally Posted by bemani View Post
Prodrive is entering F1 in 08.
David Richards WAS the Team Principal of the BAR Honda organization... Prodrive managed the whole BAR enterprise for a number of years.

From Wikipedia:

Quote:
When the BAR team was restructuring after the departure of Craig Pollock in 2001, they brought in Prodrive to run the team with Richards as their Team Principal. Under his direction there was an improvement in BAR with the team taking second place in the 2004 Constructors Championship. Richards also brought Jenson Button to the team and made him lead driver providing the majority of their championship points in 2004. However, when Honda took over the team in late 2004, the Prodrive management contract was terminated and Richards stood down as Team Principal and was replaced by Prodrive's then Managing Director Nick Fry.
My point is that it's not like Prodrive being involved in F1 is anything new.
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Old 03-03-2007, 12:09 PM   #12
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UPDATE:

Ford talks to Prodrive on Aston Martin sale

http://news.yahoo.com/s/nm/20070303/...ston_martin_dc

Quote:
LONDON (Reuters) - Ford Motor Co. (NYSE:F - news) is in exclusive talks with Prodrive, a motor racing company, over the potential sale of the U.S. carmaker's Aston Martin luxury car unit, The Times said on Saturday.

The newspaper quoted unnamed sources as saying Prodrive had trouble financing a bid but Ford had chosen it as the racing group had offered a higher price than other interested buyers.

Ford could receive over 450 million pounds ($875 million) for Aston Martin, sources familiar with the situation told Reuters last month.

Ford could not immediately be reached for comment.
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Old 03-03-2007, 12:24 PM   #13
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Turbo V8 Aston Martin with anti-lag
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Old 03-03-2007, 06:38 PM   #14
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damn...
Prodrive buying AM, wonder what will happen.
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