Chapter 602: Chapter 237: Stuck in One’s Ways or Drawing on the Strengths of Others? (3)

Especially with the two drivers not sharing test data, Chen Xiangbei was so pressed for time that he couldn’t even test long distances, completely being forced into action.

If it hadn’t been for the rain race, let alone reaching the podium, whether he could score points was questionable.

"President Peng, Staler, what are your opinions?"

With everything that needed to be known already clear, Chen Xiangbei turned his gaze towards Peng Sheng of Jiuli Sports and Staler.

Although Chen Xiangbei often acted as the image of Chinese capital within the team.

He, after all, was not the shareholder investing money.

In such situations, a decision needs to be made by the actual shareholders.

"The Huali Group has completed the acquisition of Volvo, but according to the agreement, a $900 million investment is required to jointly establish a research center, which is crucial for attracting Volvo’s technology."

"Currently, the Huali Group desperately needs this sum of money, and President Li has fully entrusted me to handle this matter."

Speaking in Chinese, Peng Sheng elaborated on the underlying reasons, without worrying about leaking commercial secrets.

At the same time, he added, "Xiangbei, the next race will be held in East Sea, and Jiuli Sports has secured the hosting rights for this year. Our current funds are very tight; I want you to have a perfect home experience."

An incredibly honest response, with the core factor being a "shortage of funds," a 300% return is enough to make anyone’s heart race.

Chen Xiangbei was actually well aware of Huali’s "financial dilemma," even investing in the HRT Team was done through gritted teeth with a bank loan, which also led to the slow progress in subsequent research and testing, resulting in a significant capital gap.

For the Huali Group, absorbing Volvo’s technology takes precedence over running an F1 team.

Jiuli Sports is the same; hosting the Chinese Grand Prix is of a higher priority than operating an F1 team.

"Staler, what about you?"

Chen Xiangbei then asked Staler.

Compared to Huali and Jiuli, Staler is actually retired, with no significant needs or desires for money.

Chen Xiangbei was somewhat puzzled about how Briatore managed to persuade him to attend today’s meeting to sell his shares.

"My reason is very simple, to become a strong team, one can’t stick to old ways."

After finishing, Staler turned his gaze to Odetto.

"I believe Odetto understands this more profoundly than I do."

Facing Staler’s meaningful words, Odetto nodded in agreement.

"Bei, I understand your original intention to create a Chinese team, but think about the Prost Team and Super Aguri."

Within the paddock, there are more than just Chen Xiangbei who possess the vision of creating a national team.

Actions have been taken by both Prost and Suzuki Aguri, who each founded a "pure-blood" national team named after themselves.

Yet, the fate of these two teams was the same—failure...

F1 represents the pinnacle of automotive industrial technology, meaning if you want to become the crown jewel, you have to absorb the world’s top technologies and strongest drivers; confining the vision to a "pure-blood" national team is equivalent to being complacent.

Back then, Prost insisted on using French drivers, Peugeot engines, and chassis designed by French companies.

Which led them from being a mid-field team in the paddock to running themselves into last place and dissolution.

Not to mention Super Aguri, whose dream of an all-Japanese team led them to forcefully bring in Ino Yuji, who had never driven a Formula car, becoming the straw that broke the camel’s back.

Odetto was very clear that the current capability of Chinese giants is not sufficient to maintain the operation of an F1 team.

If HRT wants to become a championship team, and if Chen Xiangbei wants to be a championship driver, there’s need to attract enormous funding from various parties, drawing strengths from many to achieve great things.

The precedents are there, and a shift in thinking is needed.

However, Chen Xiangbei still found it difficult to accept, as he had faced many challenges to ensure that Chinese capital held absolute control of the team, and now they were about to surrender it, with everyone else seemingly in agreement, leaving him isolated.

"Doesn’t the BOSS need to relinquish some shares?"

Chen Xiangbei looked at Kalanbant; as long as Kalanbant released some shares, the Chinese capital would still be the largest shareholder, rather than ending up with even shares.

"The BOSS brought in technology for equity."

Briatore provided an explanation.

"What technology for equity?"

"Ferrari engine technology!"

"What does that mean?"

Chen Xiangbei was somewhat confused.

"Through private relations, the BOSS struck an agreement with Ferrari. We will be their customer team next year, with research engineers immediately dispatched to tune and fix the current Toyota engine’s deficiencies."

"Toyota has already exited the F1 paddock; we need stronger allies!"

The power unit is the toughest technical challenge for a new team to tackle in a short time.

Currently, the HRT Team’s Toyota engine deficiencies can only be managed by lowering power output for stable long-distance performance.

Clearly, if they can obtain Ferrari’s technical support, they wouldn’t need to manage engine issues remotely from the faraway Toyota R&D headquarters in Tokyo amidst time zone differences.

Moreover, as Toyota’s absence from the F1 paddock grows longer, the headquarters’ resource support for the race engine department will dwindle. Relying solely on the HRT Team’s own strength to solve the power unit issue would be extremely difficult.

In short, to become a championship team, HRT needs to unleash the full potential of the Toyota engine and ensure it doesn’t blow up!

Additionally, by becoming a customer team, HRT could begin developing and adapting the chassis for next year’s car early on, which would determine the team’s future!

At this point, Chen Xiangbei understood why the team members chose to support Briatore.

He indeed provided reasons that could not be opposed from all angles.

After a moment of silence, Chen Xiangbei said to Peng Sheng.

"Mexican Telecommunications can invest in the HRT Team, but the share proportions need to be delineated, ideally following the principle of 3:3:4, where Chinese capital must maintain the major shareholder position, and there needs to be additional funds." 𝗳𝚛𝚎𝚎𝘄𝕖𝕓𝕟𝕠𝚟𝚎𝕝.𝗰𝕠𝐦

"The future championship team is worth far more than one billion!"

Looking from the perspective of everyone in this era, they would surely regard buying 33% equity with one billion as a deal too good to pass up.

Bear in mind, currently, all F1 teams except Ferrari and McLaren are losing money, the type you could buy for just one US Dollar.

Red Bull Racing Team purchased the Jaguar Racing Team for a symbolic USD 1.

Even the bidding for the Honda Team was essentially USD 1, with Ross Brown’s extra contribution equivalent to taking on debts and asset personnel costs.

This is the limitation of an era without a god’s-eye view; Chen Xiangbei couldn’t explain much more.

All he could do was secure a good price, and while opening up, maintain the position of majority shareholder.

"I want it all" is indeed challenging, but Chen Xiangbei wants to try.