Kevin Magnussen will have to pay 20% of his income to his former agent

Last November, it was announced that a lawsuit would pit Kevin Magnussen against Dorte Riis Madsen. At the heart of the discussions was the cessation of payments made by the driver to his former manager when he learned he would not be retained for a second season at McLaren.

The court has made its decision, and it is Dorte Riis Madsen who is judged to be in the right. The driver is therefore ordered to pay 20% of all his cumulative income between September 1, 2015, and June 30, 2021, as well as the same percentage from the company that finances the driver’s career.

However, the pilot’s lawyer, Claus Barrett Christiansen, told our Danish colleagues at Ekstra Bladet: “We did not expect this. That being said, the result is probably more of a victory than a defeat. Dorte Riis got much less than she hoped for.”

To understand the lawyer’s reaction, it is indeed necessary to take into account that Anders Holch Povlsen, the owner of the Bestseller textile group, has invested nearly 17 million euros in the driver’s career since 2010. Consequently, it will be necessary to wait for all the company’s debts to be repaid before Kevin Magnussen can start truly receiving the full extent of his income.

However, the accounts published for last year show that the company’s equity is negative by seven million euros, with short-term debts reaching eleven million.

Doorte Riis Madsen will therefore hope that the driver remains in F1 for many years to come. Although his place for next year has not yet been officially confirmed by Haas, the Dane seems well positioned to achieve a third consecutive season with the American team. The same cannot be said for Romain Grosjean, as Ferrari might choose to place Charles Leclerc there in order to make room for Antonio Giovinazzi at Sauber.

With the participation of www.racingbusiness.fr