Poor K-Mag! ...

[Calman]

Yet another legal/financial situation in F1, where we haven't even began racing again, after the summer break!!

It sounds like for every £1 K-Mag makes, he has to give back 99p!!!! ... Poor Sod.  All this, just when his performance behind the wheel is heading north.

https://www.autosport.com/f1/news/138239/magnussen-loses-legal-battle-with-exmanager

Best Regards,
Cal

[Jericoke]

It's hard to feel bad for athletes paid multiples of millions of dollars/euros/pounds, but so many of these 'managers' seem to be out there to make the managers rich, not their clients.

20% of everything until 2021 for not doing anything?  I appreciate Magnusson must honour the contract, but clearly the contract was written so that the manager of an 18 year old kid would get paid even if they're fired... how does that help their client? 

[Scott]

K-Mag is perhaps a little less happy than the rest of his countrymen in Danemark (Reportably the happiest people on earth).

Seriously, poor guy.  I hate that managers get 20%.  They should be on a salary with bonuses for handling successful negotiations.

[Calman]

It almost has a 'hint' of a movie plot, where some Italian Boss creates huge success for a wet behind the ears rookie, then turns the screws with pressure to pay back his debts, or unreasonable terms alongside famous quotes like "Remember, You Owe Me!!".

Best Regards,
Cal

[John S]

What is not explained, I think, is this discarded manager put in place the investment from the third party to get K-Mag to the grid in the first place.