Breaking news: Big changes are in at Rich Energy, the questionable energy drinks brand sponsoring Haas F1 team.
CEO and owner William Storey finally admits defeat and sells his controlling share of Rich Energy whilst the other minority shareholders attempted to rescue their investment after the shock Twitter announcement by Storey himself that Rich were no longer sponsoring Haas. The brand will now be renamed Lighting Volt Energy after Storey sell his stake and dissolves the brand.
Companies House has posted a string of company changes. Matthew Kell has become the director of Lighting Volt Energy.
Storey has just posted what is probably his last tweet from the official Rich Energy twitter claiming that he was ‘disgusted’ and had to sell his stake.
William Storey founder of @rich_energy has sold his majority stake in the legal entity of Rich Energy Ltd to a third party. This was in disgust at conduct of duplicitous minority stakeholders. In the words of @Schwarzenegger he'll be back!#richenergy #F1 #nobull #williamstorey pic.twitter.com/wvjRBAIqx9
— Rich Energy (@rich_energy) July 16, 2019
The new CEO of Rich Energy, now called Lightning Volt Energy, is Matthew Kell. The new registered address for Rich Energy is ‘The BDG Group’ in London – ‘unlicenced solvency practitioners’. One does wonder how legitimate such a new company CEO is in terms of taking the brand on as a going concern when they clearly have a track record of winding up businesses.
The new director of 'Rich Energy' / Lightning Volt, Matthew Kell, is interesting. He's currently the director of EIGHT UK companies, all of whom he's only acquired within the last 10 months or so. All were renamed upon his takeover. #F1 #RichEnergy
— Thomas Maher (@thomasmaheronf1) July 16, 2019
Rich Energy Haas crisis: Complete story (updated)
On Thursday before the Silverstone GP, the confusing situation at Haas sponsor Rich Energy was the dominant topic in the paddock. Now the situation is getting even crazier.
Some time ago, TJ13 surmised that the tweet that started it all off could well have been an account hacked or a bizarre PR stunt ahead of the British GP, the home race of sorts of Rich Energy. Yet it came to light that actually a very real split of senior partners of the fledgling energy drinks company has appeared, with one party claiming that a “rogue” employee had declared the termination of sponsorship with the Haas F1 team, and that the decision was not valid or true.
TJ13 has decided to summerise below the events thus far in chronological order to provide our readers with the full story as…. READ MORE