|
|
|
|
Printable Page
01/23 05:52 CST Alex Palou ordered to pay McLaren Racing $12M in breach of
contract suit
Alex Palou ordered to pay McLaren Racing $12M in breach of contract suit
By JENNA FRYER
AP Auto Racing Writer
DAYTONA BEACH, Fla. (AP) --- Four-time IndyCar champion Alex Palou on Friday
was ordered to pay McLaren Racing more than $12 million in the breach of
contract suit the team filed when the Spaniard backed out of two different
deals with the racing team.
The Friday ruling from London's High Court came after a five-week trial last
year. McLaren initially sought almost $30 million in damages, but that number
was reduced to $20.7 million as the racing juggernaut sought to reclaim money
allegedly lost in sponsorship, driver salaries and performance earnings.
Palou was not ordered to pay anything related to Formula 1 losses McLaren said
it suffered when Palou decided to remain with Chip Ganassi Racing rather than
move to McLaren's IndyCar team in 2024. All the damages awarded to McLaren were
tied to losses the IndyCar team suffered by Palou's change of mind.
"The court has dismissed in their entirety McLaren's Formula 1 claims against
me which once stood at almost $15 million," Palou said in a statement. "The
court's decision shows the claims against me were completely overblown. It's
disappointing that so much time and cost was spent fighting these claims, some
of which the Court found had no value, simply because I chose not to drive for
McLaren after I learned they wouldn't be able to give me an F1 drive.
"I'm disappointed that any damages have been awarded to McLaren. They have not
suffered any loss because of what they have gained from the driver who replaced
me. I am considering my options with my advisors and have no further comments
to make at this stage."
Palou has won three consecutive IndyCar titles and the Indianapolis 500 since
this saga began midway through the 2022 season. He has four IndyCar titles in
the last five seasons.
___
AP auto racing: https://apnews.com/hub/auto-racing
|
| Copyright DTN. All rights reserved. Disclaimer. |
|
