Wilson sells out!

Justin Wilson's innovative share offer hit its target - and then some - before it closed at the end of May. More than 900 people bought up the 2,400,000 shares that were issued in order to help the British driver raise the £1.2m he needed to secure his position with Minardi for the 2003 season

Jun 5, 2003, 2:54 PM

Wilson's manager, Jonathan Palmer, who came up with the idea, said: "There are going to be some disappointed applicants who are going to have their cheques returned. We have far exceeded our expectations.

"Clearly there has been a huge appetite, as we hoped, from members of the public and Formula One enthusiasts to take up the opportunity of owning a bit of a Formula One driver."

Two thirds of the investors bought the minimum £500 shareholding, another 20 percent paid £1,000 pounds and 90 people paid more. The applicants were mainly male although 15 percent of them were female.

Justin Wilson plc will collect all monies paid to the driver, with a view to doubling its investors' stakes, in the first instance. If Wilson continues to be successful, then they will then be entitled to receive an additional 10 percent of the plc's income until 2012.