Trial worth 2.6 million euros in sight for Kevin Magnussen

Kevin Magnussen and his former agent have been engaged in a legal procedure since May. However, their attempt at behind-closed-doors conciliation ended in failure, which will therefore lead to a three-day trial next January. This information was confirmed to the Danish newspaper BT by the lawyer of Dorte Riis Madsen: “That’s correct and I can confirm it.”

To reach the court stage, the dispute between the two parties goes back a long way. The payments made by the driver to his manager at the time date back to September 1, 2015. Indeed, it was during this period that his departure from McLaren, his first F1 team, was agreed upon, even though the official announcement would only come a month later.

The Dane then believed that his agent had cast him in a bad light with the Woking management, which led to his departure after one season as a reserve driver.

However, if Kevin Magnussen has stopped his payments, he has not formally broken his contract. Yet, it was supposed to end on June 30, 2021. This is why Dorte Riis Madsen is claiming what was stipulated by the terms of the contract, namely 20% of all the driver’s income during this period. Furthermore, she believes she should receive 20% of the capital of the company that finances the young driver’s career, which is currently owned by Kevin Magnussen and Anders Holch Povlsen, the owner of the Jack&Jones brand, visible on the driver’s suit.

The total amounts claimed are not disclosed by the agent’s lawyer, but several sources estimate it to be around 2.6 million euros. However, Kevin Magnussen also wanted to involve his former lawyer, Kristian Paaschburg, as he believes that the contract in question was not drafted in his best interest but that the lawyer conspired to favor the agent. If he were to lose his case against Dorte Riis Madsen, he would turn against Kristian Paaschburg to ensure the financial burden falls on him.

This should not, however, significantly disrupt the off-season for the driver, who was confirmed in his position with Haas as early as this summer.

With the participation of www.racingbusiness.fr