Diniz buys into Prost – but won't race

Prost Grand Prix has announced that Pedro Diniz has become a 'significant' shareholder of the racing team

Diniz buys into Prost – but won't race

Diniz, whose family owns a successful chain of Brazilian supermarkets, decided to give up a possible race seat at Prost in favour of taking a managerial role in the French squad.

"Obviously, Alain gave me the option of driving for Prost Grand Prix next year," said Diniz. "It was a hard decision to make because I am a driver and I love racing. Since we have made a big investment in Prost Grand Prix, I have to think about long-term plans for my future and commit entirely to the success of the team."

The Prost team had suffered numerous setbacks this year, including failing to score a single point in the championship, then losing major sponsors Gauloises and engine supplier Peugeot. Team boss and four-times World Champion Alain Prost negotiated a deal for Ferrari to supply the team engines next season only recently and is delighted now to have secured the considerable investment from the Diniz dynasty.

"The alliance of Prost Grand Prix with Pedro Diniz is excellent news for the team," he said "It widens our commercial objectives and reflects our strategy, which is to become truly international. In the short terms, these new funds will be aimed at increasing our budget.

"Pedro and his father Abilio share entirely my views and ambitions on the future of Prost Grand Prix."

Diniz, perhaps better known more for the money he brings to a team rather than his natural talent, believes his experience as a driver will benefit him as he takes on his new role.

"I think the six years I have been in this sport will prove very useful in starting this new phase in my career and in contributing to the progress of Prost Grand Prix," he said. "I believe in Alain and this team, and that's where I see my future."

shares
comments
They're back! F1 returns after November test ban

Previous article

They're back! F1 returns after November test ban

Next article

Winter testing starts with a whimper…

Winter testing starts with a whimper…
Load comments
The drivers that need to strike gold before F1's summer break Plus

The drivers that need to strike gold before F1's summer break

OPINION: Formula 1 is about to break up for summer 2021, with the title battles finely poised. But it’s not just the latest round of Max Verstappen vs Lewis Hamilton that will be worth watching this weekend in Hungary, as plenty of drivers are eying big results to change the stories of their seasons so far

How Lotus F1 uncovered, then squandered its last ‘unfair advantage’ Plus

How Lotus F1 uncovered, then squandered its last ‘unfair advantage’

Cast in the mould of its founder Colin Chapman, Lotus was powerful and daring but 
flawed – as it proved through further soaring peaks and painful troughs into the 1980s. DAMIEN SMITH examines a game-changing era

Formula 1
Jul 27, 2021
The core problems Yas Marina’s long-awaited tweaks won't address Plus

The core problems Yas Marina’s long-awaited tweaks won't address

OPINION: Changes to the layout of Abu Dhabi’s circuit aim to reverse the trend of insipid Formula 1 races there - the promoter has even described one of the new corners as “iconic”. And that, argues STUART CODLING, is one of this venue’s abiding failings

Formula 1
Jul 26, 2021
How Ferrari offered Britain's next F1 prospect what Red Bull couldn't Plus

How Ferrari offered Britain's next F1 prospect what Red Bull couldn't

Last year's Formula 2 runner-up Callum Ilott could be on his way to becoming the first Briton to contest a grand prix in an Alfa Romeo since Reg Parnell in 1950. But, says OLEG KARPOV, the Ferrari Driver Academy protege is having to temper his ambition at the moment – outwardly at least…

Formula 1
Jul 25, 2021
The signs that point to F1's rude health Plus

The signs that point to F1's rude health

OPINION: Formula 1's calendar might still be facing disruption as the pandemic affects travel but, says MARK GALLAGHER, the business itself is fundamentally strong thanks to the epic rivalry taking place on track and the consistent arrival of new sponsors

Formula 1
Jul 24, 2021
The unexpected benefit of F1’s sprint race repeat Plus

The unexpected benefit of F1’s sprint race repeat

OPINION: Formula 1's sprint race trial at Silverstone drew mixed feedback on Saturday, but there remained the true test of how it would impact Sunday's Grand Prix. While fans were busy marvelling at Fernando Alonso's progress, a key lesson was being learned that would directly contribute to the dramatic lap one clash at Copse the following day

Formula 1
Jul 22, 2021
The off-track considerations that led to F1’s Hamilton/Verstappen Silverstone shunt Plus

The off-track considerations that led to F1’s Hamilton/Verstappen Silverstone shunt

OPINION: Formula 1’s 2021 title fight turned ugly last weekend when Max Verstappen and Lewis Hamilton collided at the start of the British Grand Prix. Verstappen thankfully walked away unharmed, but this had been a clash long-since coming

Formula 1
Jul 21, 2021
Will 2022's all-new cars look like F1's concept model? Plus

Will 2022's all-new cars look like F1's concept model?

Formula 1 provided its clearest example yet of what the 2022 cars are set to look like when it presented a full-scale concept to the world during the build-up to last weekend’s British Grand Prix. Underneath the special shiny livery was a design that hinted at the future, but teams will be digging into key areas that may reap differing results

Formula 1
Jul 20, 2021