SHR files suit against Nature's Bakery for breach of contract

Michfan said:
Yep. Unlikely they'd run her out of their own pockets. You will see that occasionally for race winning caliber drivers. The biggest appeal with Danica was the money. Danica without the money is....Dare I say....Timmy Hill?
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I agree totally..... her biggest asset was the sponsor money....... no money..... No Danica.... simple as that..... It was all a business strategy from the start.. Tony knew that.... and she should have.... whether she did or not... I don't know.....
 
I refuse to believe this until it plays out-Danica will be there this year. I do not know about after this year..the whole warrior line thing worries the hell outta me
 
kymartin6 said:
That tells me SHR knew full good and well that Nature's Bakery couldn't make the committment...... but went forward...
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NB signed a legal document that they are on the hook for..this BS about Patrick not repping' em enough on social is just that BS also the protein powder stuff is BS. I think HAAS lawyer team outstrips NB lawyer team. This is sad. VERY sad.
 
A partial schedule may be ideal for DP as she has a lot going on and has spoken of the grind of the season before. Her fans would get to see her race and she would have more time to do appearances and whatever else she gets up to.
 
Skoalbandit33 said:
A partial schedule may be ideal for DP as she has a lot going on and has spoken of the grind of the season before. Her fans would get to see her race and she would have more time to do appearances and whatever else she gets up to.
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Not acceptable to me
 
DanicaFreak said:
NB signed a legal document that they are on the hook for..this BS about Patrick not repping' em enough on social is just that BS also the protein powder stuff is BS. I think HAAS lawyer team outstrips NB lawyer team. This is sad. VERY sad.
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Oh..... I agree with you that it was a BS move by Nature's Bakery.... they knew full well that they could not afford to pay.... or were just idiots thinking they could.... I don't know which.... what I am saying is..... SHR ain't no mom and pop operation.... they have dealt with very large corporations in their sponsorship deals.. their money guys should have smelled arat from the start.... maybe SHR will win.... but.... it will be years ahead..... beaucoups of lawyer fees and by that time Nature's Bakery will be in recievership...... they might as well just write 2016 off as a loss and absorb the operating expense.... It was just a screwup....... no other sponsors knocking at the door so they took the only one there even though they were reluctant........ Hard to turn down the only money available even though you know he can't afford it and is probably a con...
 
kymartin6 said:
Oh..... I agree with you that it was a BS move by Nature's Bakery.... they knew full well that they could not afford to pay.... or were just idiots thinking they could.... I don't know which.... what I am saying is..... SHR ain't no mom and pop operation.... they have dealt with very large corporations in their sponsorship deals.. their money guys should have smelled arat from the start.... maybe SHR will win.... but.... it will be years ahead..... beaucoups of lawyer fees and by that time Nature's Bakery will be in recievership...... they might as well just write 2016 off as a loss and absorb the operating expense.... It was just a screwup....... no other sponsors knocking at the door so they took the only one there even though they were reluctant........ Hard to turn down the only money available even though you know he can't afford it and is probably a con...
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I dont believe that SHR would do that--they are too smart to make that kind of mistake....I think I read somewhere where Haas and one of NBs execs are/were friends. This may be a "look the other way due to friendship" thing and that is disappointing to me....
 
One of the articles mentions NB sold a portion of company. New "owners" have control of the purse strings. The sale may well be what saves their bacon. It's not the same business as SHR initially signed with. Lawyers will get rich...
 
This leaves SHR with basically 2 fully sponsored cars.
4- full. JJ BB M1
10-13 races? TA C3 AD M1
14-??? Races maybe 6?-8 M1 Rush?
41- 18-20 Monster State M1

Now I know that Haas CNC is technically a "sponsor" because its the companys money and not genes but just like anyone else im sure they would prefer outside money...

@Allenbaba are they in any new negotiations?
 
DanicaFreak said:
NB signed a legal document that they are on the hook for..this BS about Patrick not repping' em enough on social is just that BS also the protein powder stuff is BS. I think HAAS lawyer team outstrips NB lawyer team. This is sad. VERY sad.
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Unfortunately these things happen and it sounds like SHR had a pretty good idea what was going on.
 
Fordracing7 said:
This leaves SHR with basically 2 fully sponsored cars.
4- full. JJ BB M1
10-13 races? TA C3 AD M1
14-??? Races maybe 6?-8 M1 Rush?
41- 18-20 Monster State M1

Now I know that Haas CNC is technically a "sponsor" because its the companys money and not genes but just like anyone else im sure they would prefer outside money...

@Allenbaba are they in any new negotiations?
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I'm not gonna do any research on this...I would guess Hass CNC is nearly a billion dollar a year business. He can afford to float the whole deal for quite a while.
 
From the article TRL posted it is apparent that SHR smelled a rat with NB but chose to ignore the rat and the smell even after the agreement was modified and then in default. NB should have fulfilled their agreement but SHR should have read the tea leaves and realized that it was unlikely to happen.
 
Skoalbandit33 said:
From the article TRL posted it is apparent that SHR smelled a rat with NB but chose to ignore the rat and the smell even after the agreement was modified and then in default. NB should have fulfilled their agreement but SHR should have read the tea leaves and realized that it was unlikely to happen.
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20/20 hindsight? They expressed concern and then signed a guaranteed contract. Not sure what more they could have done?
 
Sounds like Haas has some income problems. Never could figure how Gene entered F1 with only a net worth of $250 million.
 
KTMLew01 said:
I'm not gonna do any research on this...I would guess Hass CNC is nearly a billion dollar a year business. He can afford to float the whole deal for quite a while.
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I don't think there is any question Gene would be able to fork over the unexpected $15-$20 million. I'm sure 2017 would be fine but like Ky also stated its an empty investment.
 
KTMLew01 said:
$740 million

The founder of Haas Automation, the largest CNC machine tool builder in the western world, Haas is estimated to have a estimated net worth of $740 million, according to a 2011 story in The Pacific Coast Business Times.Apr 11, 2014
NASCAR owner Gene Haas granted Formula One team - SBNation.com
www.sbnation.com/.../2014-nascar-gene-haas-american-formula-one-team-2015-stewart...
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That $740 million (from 2011 link) sounds bogus it you follow the link. Everything I've read on multiple links says $250 million net worth, even Bernie Ecclestone said he didn't think Gene could afford F1.

Gene has a way of moving numbers that racked up prison time before.
 
KTMLew01 said:
20/20 hindsight? They expressed concern and then signed a guaranteed contract. Not sure what more they could have done?
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Civillians like me were questioning NB's ability to pay when the sponsorship was announced so one of SHR's accountants should have been able to see the unlikelihood the contract would be fulfilled. People promise things all the time that they can't deliver on so you can't always believe what you are being told. Also there is no such thing as a guaranteed contract in NASCAR
 
How much longer is Danica's contract with SHR? Even if they ran a partial season they'd still have to pay her, not?
 
DWDawg said:
How much longer is Danica's contract with SHR? Even if they ran a partial season they'd still have to pay her, not?
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She will definitely run the entire season, her contract runs through 2018. But she may not make it past this year.
 
Fordracing7 said:
I don't think there is any question Gene would be able to fork over the unexpected $15-$20 million. I'm sure 2017 would be fine but like Ky also stated its an empty investment.
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I agree as it makes no sense for Haas to sponsor the 10 car as it would be throwing 20 million out the window.
 
Fordracing7 said:
She will definitely run the entire season, her contract runs through 2018. But she may not make it past this year.
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I would be very surprised to see her race after 2018 and somewhat surprised if this is not her last year. DP is a brand and NASCAR is just part of her brand but she really doesn't need the platform any longer.
 
https://atyourservice.haascnc.com/Haas_2014_Best-Year-Ever

Skoalbandit33 said:
Civillians like me were questioning NB's ability to pay when the sponsorship was announced so one of SHR's accountants should have been able to see the unlikelihood the contract would be fulfilled. People promise things all the time that they can't deliver on so you can't always believe what you are being told. Also there is no such thing as a guaranteed contract in NASCAR
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Guess i misunderstood the word CONTRACT? Legal and binding contract. The lawyers will decide if it was "guaranteed" I suppose.

DWDawg said:
How much longer is Danica's contract with SHR? Even if they ran a partial season they'd still have to pay her, not?
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Through 2018. But I would assume there is an out for both parties.
 
Skoalbandit33 said:
I agree as it makes no sense for Haas to sponsor the 10 car as it would be throwing 20 million out the window.
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But spending 20 million on KB wasn't "throwing it out the window"? How do you quantify worth? If you don't win championship it was money wasted?

Taco said:
Old story and I can't find anything up to date on assets or debt, since its a privately held company. 1 billion in revenue means nothing to me with seeing the bottom line.
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Sorry. Best i got. They may close next week...

Skoalbandit33 said:
I would be very surprised to see her race after 2018 and somewhat surprised if this is not her last year. DP is a brand and NASCAR is just part of her brand but she really doesn't need the platform any longer.
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I suspect 2017 is her last year. Sponsor or not. She's had enough of the grind and running back with the junkers.
 
Taco said:
Old story and I can't find anything up to date on assets or debt, since its a privately held company. 1 billion in revenue means nothing to me with seeing the bottom line.
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Are you familiar with the operating statements and cash flow summaries of other private companies generating annual revenues of $1,000,000,000 or more?
 
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