Ricciardo and former manager reach settlement for $ 12 million lawsuit
Daniel Ricciardo and his former representative Glenn Beavis, who sued the Australian in court in London, have reached a settlement, and Renault's driver will pay the former manager part of the amount claimed.
Court documents recently dealing with the dispute between Daniel Ricciard and his former manager, who is suing the Australian for (****************, recently released) million US dollars. The legal process documentation also discloses the contract Daniel Ricciardo has entered into with Renault.
Daniel Ricciard lawsuit amounts to 12 millions of dollars filed by Glenn Beavis, who has been 2014 Australian Manager since. Beavis claims that Ricciardo owes him a huge sum of money on commission due to his transfer from Crimson Bull to Renault this offseason 2019.
The matter has been dealt with by the High Court of London and documents have been disclosed on the day revealing details of the contract between Ricciard and Renault:
- Ricciard's fixed salary for two years is 55 million dollars
- Renault pays the costs of all documentation required for the Australian F1 race (800 . 000 dollars).
- Renault must provide Ricciard with a company car with all its insurance
- 15 millions of dollars to transfer Ricciard's marketing rights names on Renault
- Championship Ranking Supplements (arrangement 000 million dollars)
- First Prize Bonus ($ 1 million).
Both parties have confirmed that they have reached a settlement agreement and the court proceedings are closed.