A Mercedes Formula One car driven by five-time world champion Juan Manuel Fangio has sold for over $29m at an auction in the UK today as part of a motorsport festival.
The Goodwood Festival of Speed regularly attracts huge crowds in the wake of the British Grand Prix as classic cars from Formula One and endurance racing are paraded and compete in the infamous hill-climb event. This year, as part of the annual auction, Fangio’s car was up for sale with the estimated price set at around $8m.
However, the car in which Fangio claimed the 1954 world championship eventually sold for three times that figure, with the lucky (and wealthy) buyer handing over £19.6m – around $29.6m.
It is the biggest amount paid for a classic racing car, dwarfing the $16m paid for a 1957 Ferrari 250 Testa Rossa two years ago.
The car was on show at Silverstone last month as Sir Stirling Moss (Fangio’s teammate) and current Mercedes driver Lewis Hamilton posed for pictures and compared their vehicles, leaving Hamilton in some shock when Moss explained that his car was not fitted with seatbelts.
VTB Group becomes title sponsor for Russian Grand Prix
Russian finance group VTB has been named as the new title sponsor for the Formula 1 Russian Grand Prix for 2017, set to take place on April 30.
Russia first joined the F1 championship calendar back in 2014, with the Sochi Autodrom being constructed in the city that hosted the Winter Olympics earlier that year.
For 2017, the race will feature a title sponsor for the first time, with an announcement being made by the VTB Group and F1 officials on Thursday.
As per a statement on the official F1 website: “The company’s branding has been included in the race’s logo and VTB has obtained additional advertising, marketing and communication options.”
“The right to be the title sponsor of such a major international project opens up new opportunities for both VTB Group and the Russian round of the FIA Formula One World Championship,” first deputy president and chairman of VTB management board Vasily Titov said.
“I am confident that our cooperation will become an example of an effective sponsorship in the area of motorsport for many companies. We are looking forward to seeing everyone at the 2017 Formula 1 VTB Russian Grand Prix in Sochi on 28-30 April.”
“The 2017 Formula 1 VTB Russian Grand Prix is not only a great event to attend to enjoy high-tech sporting battles and a wide range of entertainment, but is also a business platform of the highest level,” race promoter Sergey Vorobyev added.
“We are grateful to Bernie Ecclestone for making the decisions necessary for the development of this partnership and look forward to successfully working with Chase Carey and the new Formula 1 management team.”
Carey became F1’s new CEO last month following Ecclestone’s resignation, and was pleased to confirm the deal for VTB to become the Russian Grand Prix’s title sponsor.
“We are delighted to welcome VTB into the Formula One family as it becomes Event Title Partner of the Formula 1 Russian Grand Prix,” Carey said.
“VTB’s involvement will only add to the continued success of the event and we look forward to this being the start of a long and successful relationship.”
“I think there’s plenty of reasons to be very hopeful that we can do the next step as a team,” Perez said.
“I think in the four years that I’ve been in this organization, I’ve never seen it so stable, everyone knowing their job.
“In none of the teams that I’ve been in Formula 1 I’ve seen this level of confidence, organisation, everyone doing their jobs. So I think we have plenty of reasons to be happy for a great year.”
Force India owner Vijay Mallya has targeted a move into F1’s top three, and Perez sees no reason why the team cannot achieve this.
“Last year we finished fourth, so I see no reason why we cannot improve that,” Perez said.
“As I said before, the base is very solid. There are plenty of reasons to be hoping for that. That means a massive year for us, but I think Force India will be the big surprise this year
“I really hope that we can improve. I’m really optimistic about the car, about the season, so I do hope. It’s easy to talk now, but I have a feeling that Force India has done a tremendous job over the winter.
“I’ve seen the way everyone has worked in the team. I’ve been in talks all the time. I’ve been in the factory many times. I see what the people are doing, they’re explaining to me how the car is working, how big was the development rate for us.
“There are plenty of reasons to feel we can have a good year.”
While he is yet to drive the VJM10 on-track, Perez said that the car feels significantly quicker on the team’s simulator following the introduction of new technical regulations for 2017.
“It’s a big step from last year to this year, we think four to six seconds in margin of how much quicker the car goes,” Perez said.
“So the amount of downforce that we’re going to be generating this year is huge. Just looking at the car, it looks impressive. I think I’m going to have to go back and keep training my neck!”
Perez will get his first taste of the VJM10 car on February 27 when pre-season testing begins in Barcelona, Spain.
Longtime friends and Canadian countrymen James Hinchcliffe, 30, and Robert Wickens, 27, hatched a plan this offseason that will see the pair of drivers swap rides for a day.
Hinchcliffe, driver of the No. 5 Arrow Electronics Schmidt Peterson Motorsports Honda, will get to drive Wickens’ No. 6 HWA AG Mercedes-AMG C63 DTM car in Vallelunga, Italy on March 17 after he makes his first IndyCar start of the new year at St. Petersburg on March 12.
Meanwhile Wickens will have the opportunity to sample Hinchcliffe’s IndyCar for the first time at Sebring International Raceway’s short course next week on February 28, and return to his open-wheel roots.
Wickens was arguably one of open-wheel’s best prospects – perhaps even slightly higher rated than Hinchcliffe – as the two were growing in their careers. They’ve competed as teammates for Team Canada in the 2007-2008 A1GP season and as rivals, Wickens with Red Bull Forsythe Racing and Hinchcliffe with Sierra Sierra Enterprises, in the 2007 Formula Atlantic season. Wickens also made a couple later cameo appearances in North America thereafter before moving to Europe, supported by Red Bull, where he won the 2011 Formula Renault 3.5 World Series (a year after Hinchcliffe’s Schmidt Peterson Motorsports teammate, Mikhail Aleshin, did).
Despite being on Formula 1’s doorstep and testing with the Virgin team, he never got a proper chance at the series. Instead, he’s gone onto race-winning and championship-contending success with Mercedes in DTM.
Incidentally, both drivers were back in North America racing at the start of this year, in the 55th Rolex 24 at Daytona. Hinchcliffe competed in the Prototype class for Mazda Motorsports while Wickens was in the Prototype Challenge class with Starworks Motorsport.
“You have to take it just as seriously as one of your own races,” Hinchcliffe told NBC Sports at the time. “It’s crazy how much effort goes into this. I really see that sort of month of May fever around all the IMSA teams when you pull up to Daytona for the month of January, so to speak, because you start at the Roar in the beginning, then thrash on the cars for two weeks and then you come back and do a 24-hour race.”
Now, the longtime friends will be putting in their first days in their new cars in a unique ride swap opportunity.
“This whole thing is something that Robbie and I have joked about for a long time because, frankly, we weren’t sure it was ever going to happen,” Hinchcliffe said. “We both had an interest in kind of sharing our series with each other, and we kept talking about it. We decided we were going to try and take a swing at it, talked to all parties involved and amazingly it all worked out.
“It’s just a cool story; you’ve got two kids that grew up racing go-karts in Ontario,” Hinchcliffe added. “Fast forward a decade and a half, and here we are both professional racing drivers. To be able to get to do this, and share it with each other, is going to be awesome.”