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Did a $1,000,000 direct deposit hit Coops account Monday morning? Are they paid out yearly, quarterly, every 6 months? I can’t imagine and will never experience that amount of income coming in so I’m curious as to how it works with their win bonus's, salaries and sponsorship payouts.
I’m not sure how it’s negotiated these days, but I remember Bob Hannah saying that he stretched his contract payments out so far that he was getting checks from Yamaha, Suzuki, and Honda at the same time.
its more than $1m from Yamaha
Probably some kinda cashier's check...
Monthly......
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The payment protocol is probably detailed in his contract. As Rickyisms mentioned, Hannah negotiated his to payout over long terms instead of one lump sum. I bet some racers take this option now, as well.
I am betting they are some form of annuity that pays out over an extended time.
Then they shop around for a good interest rate to purchase their Lambo/Ferrari/Audi/Lexus/Mercedes.
Blu cru debit card redeemable for all parts and accessories purchases at local Yamaha dealers.
in european rally, skoda (VW Group) pays a bonus for drivers racing on skoda fabias.... But its actually discounts when buying new parts from Skoda Motorsport
most the time they go to the HQ to pick up championship bonus
They get a monthly deposits into their bank account for their salaries, and two ways for bonuses depending on what you negotiated, Tuesday morning after, or the end of the month.
I’ve seen it both ways.
I believe it's a very large cardboard cheque, about 2 ft *6 ft.
Precious metals
You know those gift cards at Target that are good at like 4-5 places. A box full of those.
That is smart the way Hannah did it.
Hannah's deal was 1 dollar a day for a million days
He was getting checks from Yamaha 20 years after his last day with them. He had them put the money in an interest bearing account.
They could dip into the primary funds if they needed to, but the intrest was all his, and they sent him a set amount until it was gone.
Bob was smart, he was the one that negotiated Mark Barnetts deal that was the first million dollar factory contract, and had it set up similarly. Mark said it was the best thing he’s ever done and probably saved him financially.
Cool info. Thanks for sharing the details.
Beat me to it. LOL
Did JLaw ever get his bonus from Yamaha for his title?
Pit Row
😄
https://youtu.be/020sZ0PY8ko?si=aJ5y5kVSXgtw8LiN
I would assume so. But I'm sure it was gone in short order 😂
"Up in smoke"
I thought I heard Ryan Dungey did the same thing I hope he still gets paid with KTM situation if that's the case!
Yup They send out a crew like with the publishers clearing house for each bonus. Along with that giant check.
I made a giant check like those for a workers last pay check for a kid that was working for me. I used the real info off one of my company checks to print it out and he deposited the giant fake check into his account. using the mobile deposit and taking a photo of it. You could see his boots in the photo. And I was hoping that some real person would see it at the bacn and wonder if the check was big, or if the feet were little.
I read something that YOT couldn’t pay him his bonus and that’s how he got his rig and parts for the ‘09 season., got the YOT leftover stuff. I saw him post triple clamps for sale before for that gen yz250f, and graphics sets and crap. That was a few years back.
Coop negotiated to be paid in Bitcoin
Not a bad idea right now. Expected to go from 104k to 140k, possibly in the coming months. Nice way to turn 1 mill into 1.4 in 3-9 months.
Or zero
Yup was gonna go to zero at $5K, at $20k, at $40K, at 60K, at $100K
Yeah that’s basically what happened. He had a ton of YOT stuff he was selling for years.
not after tax's
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