(Motorsport-Total.com) – Ex-Formula 1 driver Nyck de Vries is asked to pay. In a legal dispute with entrepreneur Jeroen Schothorst that has been simmering since the beginning of 2023, the 28-year-old has now suffered a setback and has to pay him back a large sum.
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The Amsterdam District Court has ruled that de Vries must not only repay a loan of 250,000 euros, but also pay half of his salary and all sponsorship income he earned during his Formula 1 season with AlphaTauri until July 2023 must.
In 2018, Jeroen Schothorst’s company Investrand de Vries paid a loan of 250,000 euros to promote the Dutchman’s motorsport career. This enabled him to take part in the Formula 2 championship that season after being dropped from the McLaren junior program.
Part of the agreement with Investrand was that the company would receive 50 percent of de Vries’ income if he became an active Formula 1 driver until 2022. If he doesn’t make it into Formula 1 by then, Investrand would write off the loan.
The company later agreed that his activities as a test driver for Mercedes would not be counted. However, a complication arose when de Vries stepped in at the last minute at the 2022 Italian Grand Prix as a replacement for the ill Alex Albon at Williams and took part in the race.
He finished a strong ninth and drew the attention of Red Bull, which led to him being given a regular place at AlphaTauri for the following year.
Trouble with investor because of Monza 2022
There was a dispute with Investrand over the 2022 Monza appearance and whether it was a racing business or testing activities. After all, this would mean the difference between writing off the loan or honoring the 50 percent agreement.
In the first summary court proceedings in January, the judge ruled in favor of de Vries and found that he had only competed in Monza as a reserve driver. At that time he was not under contract as a regular driver.
The judge also accused the Dutchman of not having fully informed Investrand about the details of his contracts over the years.
De Vries told the media at the time that he had effectively won. But Investrand now emphasizes that the main issue in the proceedings was that information was withheld from him. This was just a first step towards the main proceedings before the Amsterdam District Court.
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In this, the judge now sided with Inverstrand and confirmed that de Vries cannot rely on his Mercedes test contract to override the fact that he took part in the 2022 Italian Grand Prix as a racing driver within the time frame of the original agreement has.
This means he has to repay the loan of 250,000 euros plus interest and half of his income from 2023 from AlphaTauri.
De Vries’ lawyer announces appeal
“We supported Nyck at a crucial moment in his career when no one else wanted to do so,” said Schothorst, commenting on the court’s decision. “I am glad that the judge has now ruled in our favor, although of course I regret that this procedure was necessary.
“We would have preferred to reach an agreement without a trial through proper consultation, but unfortunately our attempts to do so were strongly opposed by Nyck and his lawyer. This made going to court inevitable.”
“That doesn’t change the fact that I wish Nyck every possible success in continuing his already impressive motorsport career, even if it will no longer take place in Formula 1,” emphasizes the entrepreneur.
De Vries is considering an appeal against the decision. His lawyer Jeroen Bedaux emphasizes Motorsport.com: “De Vries has fully and conscientiously fulfilled its obligations up to and including 2022, which was also confirmed by the court.”
“The fact that de Vries was nevertheless ordered to repay the loan and pay fixed and variable interest for the first months of 2023 is therefore contrary to what the parties agreed, which is why de Vries is considering an appeal,” he said Driver’s lawyer continues.
He also suggests that counting the reserve appearance at Monza 2022 as a race drive is “a very creative interpretation of the agreement” on the part of the court.