Hamilton floats?

Mon, 12 November 2007, 11:08

Even without him needing to win a world championship, Lewis Hamilton’s financial advisors have reportedly devised a way to immediately make $100m.

Although the 22-year-old rookie is apparently “close to signing a clutch of endorsement deals”, the Independent newspaper also claims that ‘Lewis Hamilton plc’ could be lucratively floated on the London Stock Exchange in the near future.

10 per cent of the company, with the McLaren driver as the main asset and his future earnings the incentive, could reportedly attract $100m, and the Daily Star observed that the scheme “would allow him to pocket a lump sum now and avoid the risk of losing out on future earnings if he is injured in a crash”.

Former F1 driver Justin Wilson pioneered the idea in 2003, to raise the money he needed to convince Jaguar bosses to hire him.

Rock veteran David Bowie also did a similar thing in 1997, raising nearly $70 million by selling bonds against his future earnings.

The Independent observed: “But the bonds were based on the future royalties from 25 albums Bowie had already recorded –- not races he had yet to win”.

Hamilton’s newfound financial power was also demonstrated last week when it was revealed that his success in 2007 helped a British toymaker to nearly double its profits.

Hornby, the maker of Scalextric slot car racing sets, has a licensing deal with McLaren, allowing it to market products in the form of Hamilton’s racers.

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