Ricciardo and former manager settle $12M commission dispute

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Daniel Ricciardo and former advisor Glenn Beavis have reached a settlement in their $12 million dispute over unpaid commissions which was brought to the High Court of London last summer.

Last summer, Beavis filed documents in the United Kingdom alleging the nonpayment by Ricciardo of the advisor's 20% commission on the driver's contract with current employer Renault.

Beavis claimed he had helped negotiate and secure the Aussie's two-year deal - estimated to be worth a whopping $55 million - during Ricciardo's final season with Red Bull.

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The two parties have amicably settled their differences for an undisclosed sum according to a statement.

"Daniel Ricciardo and Glenn Beavis are pleased to confirm that they have reached an amicable settlement over the amounts due to Glenn and thus bringing to an end the proceedings in the High Court in London. Daniel and Glenn wish each other well in their future endeavours."

Ricciardo and Beavis' formal relationship goes back to 2013 when the latter started to provide management and consultancy services to the driver through a dedicated British Virgin Islands entity, Whitedunes, of which Ricciardo is the beneficial owner.

However, the collaboration between the two was apparently terminated in late 2018.

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Phillip van Osten

Motor racing was a backdrop from the outset in Phillip van Osten's life. Born in Southern California, Phillip grew up with the sights and sounds of fast cars thanks to his father, Dick van Osten, an editor and writer for Auto Speed and Sport and Motor Trend. Phillip's passion for racing grew even more when his family moved to Europe and he became acquainted with the extraordinary world of Grand Prix racing. He was an early contributor to the monthly French F1i Magazine, often providing a historic or business perspective on Formula 1's affairs. In 2012, he co-authored along with fellow journalist Pierre Van Vliet the English-language adaptation of a limited edition book devoted to the great Belgian driver Jacky Ickx. He also authored "The American Legacy in Formula 1", a book which recounts the trials and tribulations of American drivers in Grand Prix racing. Phillip is also a commentator for Belgian broadcaster Be.TV for the US Indycar series.