Latest news with #HitechGrandPrix
Times
12-05-2025
- Business
- Times
Oliver Oakes quit as Alpine F1 boss days after brother was arrested
The shock resignation of Oliver Oakes as Alpine team director came only days after his brother was arrested and charged by the Metropolitan Police. William Oakes, a director of the Hitech Grand Prix team, a company his brother owns, was arrested last Thursday and charged with 'transferring criminal property'. A Metropolitan Police spokesman said: 'William Oakes, 31, of Rugby was charged with transferring criminal property on Friday May 2 after he was stopped in the Silverstone Park area in Northamptonshire on May 1 in possession of a large amount of cash. He appeared before Northampton magistrates' court on Saturday May 3, and [has been] remanded in custody.' William Oakes was listed on Companies House as a director of Hitech in November 2022. Oliver Oakes, 37,
Telegraph
10-05-2025
- Sport
- Telegraph
The Russian oligarch, the arrested brother and the man at centre of an F1 storm
Up until the start of this week no one outside of Formula One or motorsport had heard of Oliver Oakes. In the space of a few days that has changed. Oakes's abrupt resignation from his role as team principal at Alpine F1 on Tuesday garnered headlines across sport, mainly because of the presumed involvement of Flavio Briatore. The septuagenarian Italian, who has been involved in a string of controversies in a colourful and controversial career, and who recently returned from a 'lifetime ban' from the sport, was said to have had a disagreement with Oakes over the team's driver line-up. But that still did not quite explain Oakes's sudden resignation. This was, after all, a highly rated young team principal – the second youngest in the sport's history when he was appointed last summer – who was being tipped to replace Christian Horner at Red Bull one day. Would Briatore have really let him go? A joint statement from the pair of them the following day, denying any fallout and suggesting that Oakes had departed for 'personal reasons', only added to the intrigue. Then on Thursday came a new twist: Telegraph Sport broke the news that Oakes's brother, his fellow director at his Hitech Grand Prix, a race team which competes in various world championships, as well as various other entities according to Companies House, had been charged last Friday, just days before Oakes's resignation. What is more, the Metropolitan Police confirmed to the Telegraph that William Oakes, 31, had been stopped in possession of what it described as 'a large amount of cash', charged with 'transferring criminal property' and remanded in custody after appearing before Northampton Magistrates' Court last Saturday. Oliver Oakes has not been accused of anything and is not wanted for questioning in relation to anything. He is understood to have travelled to Dubai after Miami but beyond that he has not surfaced in public. He declined to comment when contacted by the Telegraph Sport. What we do know is that there is a lot of uncertainty at his junior racing teams, who compete in F2, F3, GB3 and British F4, as well as the all-female F1 Academy. Oakes might have been driving for a Formula One team, rather than running one, had things worked out differently. From The King's School to karting champion Growing up in Norfolk, he grew up in the motorsport world. Oakes's father Billy was the founder and owner of the now-defunct F1 team Formula Renault, as well as the British F3 team Eurotek Motorsport. By the age of four, Oakes was driving karts. And while he was a pupil at The King's School, formerly known as King's Ely, he found enough time to take his karting extremely seriously, becoming the British Open champion in the sport twice. In 2005, now 17, he became a karting world champion, beating the likes of future F1 drivers Jules Bianchi and Valtteri Bottas to the top prize. This caught the eye of the newly formed Red Bull Junior Programme, as he joined Jaime Alguersuari, Sebastien Buemi, Brendan Hartley and a certain four-time F1 world champion named Sebastian Vettel as a member of the team. Like Horner, the Red Bull team boss whose shoes he has been tipped to fill, Oakes graduated from karts to race cars where he had a respectable if unspectacular career. He finished sixth in Formula BMW and went on to compete in various other championships including the British Formula 3 International Series in 2008 against Sergio Perez. But like Horner, he quickly realised he was more cut out for driving race teams from outside the cockpit. In 2011, Oakes formed Team Oakes, which took part in several major European and world competitions. Then in 2015 he formed Hitech Grand Prix, a team first started in 2002 but which he helped relaunch. It was there that his controversial association with Russian oligarch Dmitry Mazepin first began. Mazepin initially bought a stake in Hitech in 2016, when his son Nikita arrived to compete in F3, with the team also gaining Russian minerals company Uralkali as a sponsor. Over the years, the Russian – a close, personal friend of Russian president Vladimir Putin, with whom he sat in the Kremlin on the day Russia invaded Ukraine in 2022 – increased his holding in Hitech to 75 per cent via Cyprus-based investment company Bergton Management Ltd. In a series of decisions which were important enough to be discussed in Parliament, Mazepin's shares were all handed over to Oakes nine days before Russia's invasion. Oakes then formed a new company to take control of the shares just days after Mazepin and his son were sanctioned by both the Government and the European Union. Nikita Mazepin has since had his ban overturned by the European Court who ruled that 'association' with his father was not enough to warrant it. There is no suggestion Oakes was involved in any wrongdoing. Oakes, who said at the time that it was 'always part of the strategic plan for Bergton Management to exit Hitech in early 2022 and myself to own Hitech fully', has carried on running his teams very effectively by all accounts. Colleagues describe him as 'competent' and 'gregarious'. He was seen as the strait-laced Brit trying to run a tight ship at Alpine alongside the more volatile, combustible Briatore. The news cycle has moved on so fast that Oakes was still listed as the Alpine team principal on the French manufacturer's website on Friday. Once tipped to replace Horner, his future is now unclear.
Express Tribune
09-05-2025
- Automotive
- Express Tribune
Oliver Oakes resigns as Alpine F1 boss after brother William's arrest on financial crime charges
Oliver Oakes has resigned as Alpine F1 team principal, a move that comes shortly after his brother William Oakes was arrested and charged with a financial crime. The decision was announced on Tuesday, just before the team confirmed a driver change, replacing Jack Doohan with Franco Colapinto. William Oakes, a director at junior team Hitech Grand Prix, was arrested on May 1 at Silverstone Park and charged the following day with 'transferring criminal property,' according to the Metropolitan Police. Authorities said the 31-year-old was found carrying a large amount of cash. He was remanded in custody after appearing before Northampton Magistrates' Court on May 3. Oliver Oakes is not accused of any wrongdoing and has no known connection to the charges. He had joined Alpine from Hitech in 2024 and served less than a year in the team principal role. According to The Telegraph, Oakes travelled to Dubai from the Miami Grand Prix last weekend, and his current whereabouts remain unclear. In a joint statement released Wednesday, Oakes described his departure as a personal decision. 'It's been a privilege to lead everyone at Enstone, what a team, what a place,' he said. 'Flavio [Briatore] has been like a father to me, nothing but supportive since I took the role.' Briatore, who now assumes Oakes' responsibilities, added: 'We respect Oli's request to resign and have therefore accepted his resignation. The reasons are not related to the team and are of a personal nature.' The Independent reports that in 2022, Oakes took full ownership of Hitech Grand Prix from Russian oligarch Dmitry Mazepin, forming Hitech Global Holdings Ltd shortly after Mazepin was sanctioned by the UK and EU following Russia's invasion of Ukraine.
News.com.au
09-05-2025
- Automotive
- News.com.au
Wild arrest twist after Alpine boss resigns following Aussie driver's axing
The turmoil inside the Formula 1 garage of Alpine has taken a dramatic twist in the wake of team principal Oliver Oakes resigning. Oakes pulled the pin after less than a year in the position, a move that come only a day after it was announced Jack Doohan had been sacked. Many within the F1 community were quick to link Oakes' departure with Doohan's sacking after the Brit had been a major backer of the Aussie rookie. Oakes' departure however was noted as being 'of a personal nature' and on Friday it appeared the reason may have been revealed. The 37-year-old's young brother, William, was arrested by police on Thursday, May 1 and charged with 'transferring criminal property'. The Oakes brothers are co-directors of Hitech Grand Prix, which fields cars in Formula 2, Formula 3 and other junior categories. Hitech Grand Prix and holding company Hitech Global Holdings are both registered in Silverstone Park. The racing team's base is located in the Silverstone Park area, where 31-year-old William was detained by Metropolitan Police. 'William Oakes, 31, of Rugby was charged with transferring criminal property on Friday, May 2 after he was stopped in the Silverstone Park area in Northamptonshire on Thursday, May 1, 2025 in possession of a large amount of cash,' local police said in a statement. 'He appeared before Northampton Magistrates' Court on Saturday, May 3, and remanded in custody.' is not suggesting Oliver Oakes had any involvement in the matters involving his brother. Meanwhile, in the wake of Oakes' departure from Alpine, the team moved quickly to shut down any suggestions his resignation was due to disagreements with executive director Flavio Briatore. 'A lot has been said in the past 24 hours, incorrectly associating the decision of Oli resigning to an alleged disagreement, or that we shared different views. This is completely false and far from the truth,' Briatore said in a statement he posted on Instagram with Alpine. 'Me and Oli have a very good relationship and had long-term ambitions to drive this team forward together. 'We accept Oli's request to resign and have therefore accepted his resignation. 'The reasons are not related to the team and are of a personal nature.' Briatore is an infamous figure in the sport and the sight of him taking power at the team will not sit well with all F1 commentators. Briatore, who oversaw multiple world titles for Benetton in the 1990s and Renault in the mid-2000s, was the dominant figure of the 'Crashgate' scandal which saw his driver Nelson Piquet intentionally crash at the 2008 Singapore Grand Prix to help Renault teammate Fernando Alonso win the race. He was at the time given a lifetime ban by the FIA, Formula 1's governing body, for the incident. That ban was eventually overturned in a French court. He has also previously been convicted of crimes, including fraudulent bankruptcy and tax evasion. Alpine's decision to drop Doohan and install Franco Colapinto alongside Pierre Gasly did not go over well with Mick Doohan coming out swinging. The motorcycle legend attempted to come to the defence of his son as he took aim at the F1 team over the brutal move. The five-time MotoGP world champion posted a graphic of Doohan and Gasly's race results from the season so far on his Instagram stories. He was attempting to highlight just how poorly the Alpine car has been performing but F1 fans pointed out that the graphic he shared only served to emphasise how Jack was outclassed by his teammate. For the record, Gasly's results are 11th, 11th, 13th, 7th, DNF, 13th and Doohan's results are: DNF, 13th, 15th, 14th, 17th, DNF. F1 drivers are measured closely against their teammates first and foremost, and Doohan finishing behind Gasly would not have gone unnoticed within Alpine. Colapinto will now get a chance to prove his worth alongside Gasly while it remains to be seen if Doohan will get another chance to rekindle his Formula 1 career.
Time of India
09-05-2025
- Automotive
- Time of India
Alpine F1 boss Oliver Oakes' resignation came just days after brother was arrested for ‘transferring criminal property'
Oliver Oakes resigns as Alpine F1 boss amid his brother's criminal charges, prompting leadership changes and sparking internal speculation. (Credit: X) The Formula One world was thrown a curveball this week as Oliver Oakes announced his resignation as team principal of Alpine—less than a year into the role. The timing of his sudden departure has ignited speculation, especially as it followed the arrest and subsequent charging of his brother, William Oakes, on serious financial crime allegations. Formula 1 scandal brews as Alpine boss quits days after brother is charged by police William Oakes, 31, was charged last Friday by London's Metropolitan Police with 'transferring criminal property' after being caught with a 'large amount of cash' near Silverstone Park—a site synonymous with British motorsport and home to Hitech Grand Prix, where both Oakes brothers serve as directors. Operation Sindoor Operation Sindoor: Several airports in India closed - check full list Did Pak shoot down Indian jets? What MEA said India foils Pakistan's attack on Jammu airport: What we know so far William was remanded in custody following a court appearance in Northampton the next day. While Oliver Oakes has not been accused of any wrongdoing, his swift exit from Alpine, coming just days after his brother's legal troubles surfaced, has led to whispers of behind-the-scenes pressure. A source familiar with the situation disclosed that his resignation was 'concerned with the personal situation involving his family,' suggesting that the legal cloud hanging over his brother may have influenced his decision to step away. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Google Brain Co-Founder Andrew Ng, Recommends: Read These 5 Books And Turn Your Life Around Blinkist: Andrew Ng's Reading List Undo Hitech Grand Prix, the single-seater team both brothers have shaped since 2015, has remained tight-lipped about the situation. Likewise, Alpine declined to comment on Oakes' exit when contacted by media outlets. As of now, both brothers are still listed as active directors on Hitech's Companies House profile, with Oliver having majority control since mid-2023—just before he transitioned into his Alpine role. Interestingly, the leadership shuffle at Alpine didn't stop with Oakes. Within 24 hours of his resignation, the team announced that test driver Franco Colapinto would replace Jack Doohan for at least the next five Grands Prix, starting with the Imola weekend on May 16–18. This sparked further speculation of internal disagreements, particularly with Flavio Briatore, Alpine's executive advisor. However, Briatore clarified via Instagram, 'the reasons are not related to the team and are of a personal nature.' Adding to the intrigue is Alpine's current standing in the constructors' championship—they sit ninth after six rounds, far from where they had hoped to be in 2024. A team already struggling for form is now tasked with navigating a leadership vacuum mid-season. Hitech, meanwhile, has had its own share of headline-making developments. Founded by Oliver Oakes and once majority-owned by Russian oligarch Dmitry Mazepin—who has strong links to Vladimir Putin—the team saw its ownership shift in 2022 to Hitech Global Holdings Ltd, controlled by Oakes. Following that, Kazakhstan's billionaire Vladimir Kim bought a 25% stake in the operation. Despite an ambitious bid to join the F1 grid in 2026, Hitech's proposal was ultimately unsuccessful. As Oliver Oakes exits Alpine amid a family scandal and a struggling season, the F1 community will be watching closely to see how both Alpine and Hitech recalibrate their strategies. The sport thrives on high-stakes drama—but this latest twist is one that no paddock strategist could have forecast. Also Read: Lewis Hamilton believes Ferrari's F1 struggles are deeper than expected: 'Something is holding them back'
