|
|
06 Mar 2003
Wilson, who is a driver for the Minardi Formula One racing team, is hoping to raise £1.2m for his team. He joined the team this year, promising he would contribute to the team's budget. The company's managing director, Jonathan Palmer, said all of Wilson's earnings would go into Justin Wilson plc.
He registered the plc on Monday in Companies House and yesterday issued a 34-page prospectus. The minimum subscription charge for shares in Justin Wilson plc is £500, but his advisors say any returns on the shares will be tax free in three years.
Investing in sports is a high risk option in the current economic climate, with the recent demise of F1 racing team Arrows being the latest example. And the prospectus confirmed the company was badly in need of cash, saying in its risk factors page: 'Minardi may fail to complete the F1 season through lack of funds.'
According to The Times, the investors have to believe that he will leave Minardi for one of the bigger teams and become a millionaire.
You may also like
Search thousands of financial jobs:
Search thousands of financial jobs:
Careers
Search for jobs
Click to search our database of all the latest accountancy roles
Create a profile
Click to set up your profile and let the best recruiters find you
Jobs by email
Sign up to receive regular updates with the latest roles suitable for you
Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
Visitor comments Add your comment