According to a tweet by Scott Speed, “today should be the day my lawyer files this lawsuit against Red Bull…Had to tell my loyal twitter followers before they saw it online”. In a later post he made clear that he is looking for a ride for next season, “Sure not easy to find something when u start looking in December but we workin on it! Ill keep ya posted. sure we will find something”.(12-8-2010)
UPDATE: The former Formula One driver finished 30th in the standings in his second year in Sprint Cup and said he was notified by fax Nov. 24 that he would not be retained for 2011 by the team operated by the Austrian-based energy drink company. “I’m obviously stupid disappointed that I didn’t even get a phone call, not a conversation, not anything from anyone from Austria,” Speed said Wednesday in a phone interview. “They all showed up at Miami. None of them spoke a word to me. I got a fax.” Speed has said he had a contract for 2011 declined to discuss details, saying he has spoken to a lawyer about his options. “I can’t describe how upset I am just over the morality of it,” Speed said. “I don’t understand how you can treat people like this. Whatever. I know that’s not how I treat people.” Speed would not comment on the terms of his Red Bull contract because of advice from his attorney. “They thought it was OK to kick me to the curb and not try to do absolutely anything for me,” Speed said. “They didn’t want to pay me anything. They didn’t want to help me get into any other kind of ride. Nothing. They were, ‘OK, we’re done with you. Thank you for seven-and-a-half years.’ Speed wants to continue racing stock cars and would consider a competitive Nationwide or truck team.(Scene Daily)(12-8-2010)
UPDATE 2: NASCAR driver Scott Speed filed a $6.5 million breach-of-contract lawsuit Friday afternoon against Red Bull Racing, the team that released Speed following the 2010 season. In the lawsuit, filed in North Carolina Superior Court in Statesville, N.C., Speed claims that Red Bull did not fund the team as necessary to compete at the Cup level. According to the lawsuit, Speed signed a three-year deal in September 2007 for a salary of $300,000 in 2008, $500,000 in 2009 and $1 million in 2010. He would receive 50 percent of prize money for each top-10 finish, 45 percent for finishes 11th-20th and 40 percent of prize money for finishes of 21st or worse. In June 2008, the deal was amended to include 2011 at a salary of $1.5 million and options for 2012-2013 at raises of $500,000 annually. In January 2010, the deal was revised to cut Speed’s pay from $1 million to $500,000 for 2010, according to the complaint. In May 2010, Red Bull picked up Speed’s option through 2013, according to the complaint, but then fired him Nov. 23. The $6.5 million figure represents the salary Speed would have received from 2011-2013, in addition to the $500,000 reduction for 2010. Speed said Wednesday that the filing of the lawsuit was in hopes of being able to pay bills due next year, given that the chances of now getting a ride for 2011 are slim. Red Bull Racing officials indicated Wednesday that they would not comment on Speed’s release or any pending litigation.(Scene Daily)(12-11-2010)
