De Vries loses court battle – faces hefty financial burden

Nyck de Vries' fight against a hefty financial burden has taken a turn for the worse, with an Amsterdam District Court ordering the former AlphaTauri F1 driver to repay a €250,000 loan and a significant portion of his F1 earnings toa Dutch investment company. The battle stems from a 2018 agreement whereby Investrand provided de Vries with a loan to support his Formula 2 campaign. The deal stipulated that if De Vries became a full-time F1 driver by 2022, Investrand would receive 50% of his F1-related income. However, if he didn't reach F1 by then, the loan would be forgiven. The pivotal point of contention revolved around De Vries' participation in the 2022 Italian Grand Prix as a reserve driver for Williams, when he replaced an ill Alex Albon. While de Vries’ defense considered this a "test driver" scenario, the court ruled that it constituted a "race driver" activity, triggering the 50% income sharing clause. Read also: Talking Points: Were AlphaTauri right to eject de Vries? In February 2023, de Vries had initially secured a favorable ruling in a summary court proceeding regarding this case. However, that ruling was apparently only part of a preliminary hearing. The most recent verdict represents a significant setback for de Vries, potentially affecting his racing career in multiple series as the Dutchman will be racing this season Toyota in the WEC and with Mahindra in Formula E. Nyck de Vries made his F1 race debut with Williams at the 2022 Italian GP. “We supported Nyck at a crucial moment in his career, when no one else wanted to do so,” said Investrand boss Jeroen Schothorst. “I am happy that the judge has now ruled in our favour, although I of course regret that this procedure was necessary. “We would have preferred to reach an arrangement without procedures through proper consultation, but unfortunately our attempts to do so were resolutely rejected by Nyck and his lawyer. “This made going to court inevitable. That does not alter the fact that I wish Nyck all possible success in the continuation of his already impressive motorsport career, even though it will no longer be in F1." This latest verdict marks a major turnaround and leaves de Vries and his counsel contemplating an appeal, which could further prolong the legal battle. Keep up to date with all the F1 news via Facebook and Twitter The post De Vries loses court battle – faces hefty financial burden appeared first on F1i.com.