Chilton aims to repay those who have put their money up
Saturday 13 April 2013
Max Chilton is hoping to repay more than 30 separate investors who have helped fund his step up into Formula One.
Chilton has revealed giving up part of his future earnings with the formation of a company under the Enterprise Investment Scheme. Investors pay anything from £20,000 upwards to back Chilton, with the aim of a return down the line should he progress his career.
It is not a totally unique idea as Justin Wilson raised £1.2m for a seat with Minardi in 2003 by forming a public limited company and selling shares in himself. Chilton, 21, appreciates what is at stake given the cut in his potential salary beyond this, his debut year racing in F1 with Marussia, but he feels it is a risk worth taking.
“What I’ve done is not the dream way of doing things because you are giving away part of your future,” said Chilton. “But any driver on this grid would chop their arm off to get there, so if doing what we’re doing gives me my chance, then that’s the way to go about it.”
After a solid first practice session yesterday ahead of the Chinese Grand Prix tomorrow, Chilton managed four laps in the second before his engine cut out with an oil pressure issue. The team managed to get Chilton back out on track, but he was forced to pull over again.
Chilton said: “For a day that started so positively, it is disappointing to suffer such a setback.”
Don't mess with me, Diego Costa warns Manchester City ahead of Chelsea clash
Florida State quarter-back Jameis Winston suspended for half-a-game for yelling 'F*** her right in the p****'
West Ham vs Liverpool match report: Reds are caught cold by hot Hammers
Aston Villa vs Arsenal team news: Alexis Sanchez incorrectly named in starting line-up as Alex Oxlade-Chamerlain called up to start
West Ham vs Liverpool player ratings: Winston Reid? Diafra Sakho? Who rated highest from the Hammers' victory?
- 1 Scottish referendum: So how about the English now being given a chance to split from England?
- 4 Matthew Miller: American sentenced to hard labour in North Korea 'wanted to be Snowden II'
- 5 Iranian blogger found guilty of insulting Prophet Mohammad on Facebook sentenced to death
Scottish independence referendum: A nation divided against itself
Scottish referendum results: Cross-party consensus collapses amid Tory-Labour spat on the 'English question'
Scottish independence: David Cameron is becoming the 'George Bush of Britain'
Russia freezes Ukraine into submission: Kiev admits country doesn't have enough fuel for winter
Archbishop of Canterbury admits doubts about existence of God
Portuguese academic says British are 'filthy, violent and drunk'