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Wilson`s unique scheme pays off
London, June 07: Justin Wilson has raised the funds to secure his place in Formula One to the end of this season.
London, June 07: Justin Wilson has raised the funds to secure his place in Formula One to the end of this season.
The English rookie has revealed that his unique share option scheme, through which fans could invest in his future, has been oversubscribed. The scheme closed last Friday with the £1.2m he needed to pay for his drive with Minardi banked.
"It has exceeded our expectations by quite some way," said Wilson's manager Jonathan Palmer. "The share issue was risky but Justin is a driver who deserved this."
Wilson's father Keith, who had risked his garage business if the share issue was not successful, said: "It's an enormous relief - a fantastic feeling.
"But I did not have any doubt we would get there. We are there now, so it's down to Justin to do the job."
Sheffield-born Wilson said: "It was obviously a risk, but I did not think about it. I just had to concentrate on my driving.
"Formula One is what I've always dreamed of, and my family has always been behind me."
The Justin Wilson plc scheme was launched at the season's opening race in Melbourne in March, with investors offered the chance to double their money in the space of three years.
The minimum investment was £500, and 70% of people have invested that sum. The 24-year-old was forced to adopt the unique funding scheme after being unable to secure an F1 drive despite becoming in 20001 the first Briton to win the Formula 3000 title.
Wilson, who missed out on a drive last year because his 6ft 3in frame could not fit into the Minardi cockpit, has impressed in his performances for the under-funded team this season.
Wilson has yet to score a point in his seven races but has been linked with a move to Jaguar Racing for 2004. And Palmer said Wilson would even be prepared to drive for free if he could get a drive in a better team next season.
"If Jaguar offered him a drive for no salary at all, if that's what they wanted to do and felt it was the best they could do, then one must obviously look at that seriously in view of the potential of the car," he said. "He wants to be in the most competitive drive he can be for 2004. The chances are that may not be Minardi.
"Obviously Jaguar is a very attractive team, he knows [Jaguar driver] Mark Webber very well, matched him very well [in Formula 3000] and as a British driver that would be a great thing to see.
"I think Webber and Wilson would make a formidable team. I think it would be great for everybody, for Jaguar and for Britain as well."
Wilson said: "Hopefully I can progress and be in a more competitive environment next year. That's what [Minardi boss] Paul [Stoddart] is hoping I can do and that's what we're all hoping I can do.
"It'll be sad to leave... but Paul expects me to move on as he did with Mark and Fernando [Alonso, now at Renault]."
Bureau Report
The English rookie has revealed that his unique share option scheme, through which fans could invest in his future, has been oversubscribed. The scheme closed last Friday with the £1.2m he needed to pay for his drive with Minardi banked.
"It has exceeded our expectations by quite some way," said Wilson's manager Jonathan Palmer. "The share issue was risky but Justin is a driver who deserved this."
Wilson's father Keith, who had risked his garage business if the share issue was not successful, said: "It's an enormous relief - a fantastic feeling.
"But I did not have any doubt we would get there. We are there now, so it's down to Justin to do the job."
Sheffield-born Wilson said: "It was obviously a risk, but I did not think about it. I just had to concentrate on my driving.
"Formula One is what I've always dreamed of, and my family has always been behind me."
The Justin Wilson plc scheme was launched at the season's opening race in Melbourne in March, with investors offered the chance to double their money in the space of three years.
The minimum investment was £500, and 70% of people have invested that sum. The 24-year-old was forced to adopt the unique funding scheme after being unable to secure an F1 drive despite becoming in 20001 the first Briton to win the Formula 3000 title.
Wilson, who missed out on a drive last year because his 6ft 3in frame could not fit into the Minardi cockpit, has impressed in his performances for the under-funded team this season.
Wilson has yet to score a point in his seven races but has been linked with a move to Jaguar Racing for 2004. And Palmer said Wilson would even be prepared to drive for free if he could get a drive in a better team next season.
"If Jaguar offered him a drive for no salary at all, if that's what they wanted to do and felt it was the best they could do, then one must obviously look at that seriously in view of the potential of the car," he said. "He wants to be in the most competitive drive he can be for 2004. The chances are that may not be Minardi.
"Obviously Jaguar is a very attractive team, he knows [Jaguar driver] Mark Webber very well, matched him very well [in Formula 3000] and as a British driver that would be a great thing to see.
"I think Webber and Wilson would make a formidable team. I think it would be great for everybody, for Jaguar and for Britain as well."
Wilson said: "Hopefully I can progress and be in a more competitive environment next year. That's what [Minardi boss] Paul [Stoddart] is hoping I can do and that's what we're all hoping I can do.
"It'll be sad to leave... but Paul expects me to move on as he did with Mark and Fernando [Alonso, now at Renault]."
Bureau Report