F1 News

William Storey is once again Rich Energy majority shareholder!

29 August 2019 at 17:55
Last update 29 August 2019 at 18:21
2
  • Joseph Tyrrell

Documents released by Rich Energy have revealed that their former CEO William Storey has regained majority control of the company after he was given enough shares to make him the majority shareholder.

Earlier this summer Storey was ousted from his position after trying to cut ties with Haas with whom they are title sponsors of. Following several legal battles, Rich Energy eventually changed to Lightning Volt and ownership of the company was handed over to the BDG group.

This saga has coincided with Haas' poor performances on track adding to their woes but they appeared happy to continue their relationship with the company. However, they did admit they would release the energy drink company from their deal for £35 million. 

In the latest turn of events, it appears Rich Energy is back in the control of Storey who now holds 6.5k of 10k shares in the company making him the majority shareholder. 

It is yet to be seen whether this will influence Haas' relationship with their title sponsor.