Hoonigan filed for bankruptcy

[DavidB1126]

Man.

 

[Xraycer]

1.2 billion in debt?!

 

[332_RC]

1.2 Billion in debt? Jeesh! Staggering!

 

[luke66]

1.2 BILLION?

Sad to see though.

 

[WickedFog]

If they racked up that much debt, that's just pure stupidity, or intentional. I mean it's a bunch of guys building badass cars. How do you rack up that much debt? They could have bought 1000 Bugatti Veyron's with that kinda money.

 

[CertifiedMike]

1.2 B in debt and they want to raise half that in new capital. Perhaps I have misjudged the market here by a decimal point or 2???
The numbers are utter nonsense.

 

[ahr43]

Disappointing to read but not surprising. With inroads to US rallye events, WRC rallye feelers, Pikes Peak Hillclimb and Rallye Cross - none of which are cheap - big money outlay with minimal return. Other than keeping the brand to the fore in the motorsports media.

Reads like there is little room to downsize and compete in fewer events. At least the brand will live on in RC. Perhaps they can field an effort in RC? Be a great infusion for the hobby and a way for them to preserve the legacy.

 

[CertifiedMike]

I guess that's what it boils down to. A sponsership from Ford would result in more car sales ideally.
It's not like many of us could go out and buy/build a Ken Block Mustang for our garages. I'm not sure they could sell enough t-shirts to make this fly.

Your idea about models, r/c and other smaller scale avenues is great! A perfect way to preserve the history and keep it fresh!

 

[Finesavageboy2]

Edit: I think before Ken Blocks passing #RIPKenBlock, Ford actually ended up taking away the Hoonicorn. I think Hoonigan wanted to get funded 1.2 million dollars for a project but Ford said no, and pulled the plug on Hoonigan funding, and took the Hoonicorn with all of the other cars they funded. Now they are either crushed ord sitting in a warehouse

 

[DavidB1126]

crushed

They have better not

 

[CertifiedMike]

Prob just as well. I can't imagine what sort of nonsense could have been cobbled out of this electric sedan suv'ish looking mach thing thats been posing as a Mustang these days.
I can't wait to see them trying to drift a 12000lbs electro nightmare anyway.

 

[HPIguy]

Lots, and lots of speculation in this thread. Sadly, none of us will every really know the real answer. But 1.2bil in debt is insane. I thought only the US govt. was allowed that kind of credit line.

I did find this, which was interesting...



During COVID no one could go anywhere, so everyone watched YouTube, Netflix, Disney+ etc etc. everything saw artificial growth from people staying at home, YouTubers made more money from the increased views. The bigger channels started to get bought out by investment groups. Then COVID "went away" so the viewership started to drop. Investers don't like to loose money so they started to push for more content to be made. YouTubers who were employed by channels (but didn't own the channels) obviously didn't like the larger workload and making terrible content so they started to quit and make their own independent channels (like HertLife left Hoonigan).

 

[332_RC]

Edit: I think before Ken Blocks passing #RIPKenBlock, Ford actually ended up taking away the Hoonicorn. I think Hoonigan wanted to get funded 1.2 million dollars for a project but Ford said no, and pulled the plug on Hoonigan funding, and took the Hoonicorn with all of the other cars they funded. Now they are either crushed ord sitting in a warehouse

Sounds like a classic Ford move

 

[Finesavageboy2]

Thats also the reason why his last project was the HooniTron....

Sounds like a classic Ford move

If you look at it from Fords perspective, they had spent tens of millions of dollars on his projects. Fact: the Hoonicorn took 1.5 million dollars to build. It is sad but I get why they did it...

 

[332_RC]

Thats also the reason why his last project was the HooniTron....


If you look at it from Fords perspective, they had spent tens of millions of dollars on his projects. Fact: the Hoonicorn took 1.5 million dollars to build. It is sad but I get why they did it...

I'll be darned. 1.5 million of 1.2 billion in debt. And if it took 1.5 million to build a V8 AWD crap Mustang, when in reality it was probably more like 100k, then the company is only 3 million in debt. So, after chapter bankruptcy, they actually make money, hence Ford pulled the plug. Crooked huh.

 

[HPIguy]

Edit: I think before Ken Blocks passing #RIPKenBlock, Ford actually ended up taking away the Hoonicorn. I think Hoonigan wanted to get funded 1.2 million dollars for a project but Ford said no, and pulled the plug on Hoonigan funding, and took the Hoonicorn with all of the other cars they funded. Now they are either crushed ord sitting in a warehouse

From what I understand, it was more about his teaming up with Subaru and Vermont Sports car with Travis Pastrana. Both Ken and the then CEO of Ford were both very respectful and gave thanks to each other publicly about the parting of ways.

 

[CertifiedMike]

I'm sure there were lots of things that contributed but those dollar signs are just staggering! I don't know how anyone could expect to see a profit from something like this.
Its not a great idea to do business with a company who seemingly doesn't understand finaces at least. I could see this being a part of Ford stepping out too.
Dollars and cents is the reasoning behind most things like this. Maybe Ford could have better profitted from the partnership with marketing and product???

Seems like a lot of 'he said/she said' here.

A working 1/10 scale version of this car should only cost $150k, correct?
Sign me up!!!

 

[tntpoof]

Will Traxxas get the blame for this also..hmm iam sure they will acquire it..LOL

 

[DavidB1126]

Will Traxxas get the blame for this also..hmm iam sure they will acquire it..LOL

Yes Traxxas is always the problem(s)...
They are literally the Ford of RC.

 

[332_RC]

Will Traxxas get the blame for this also..hmm iam sure they will acquire it..LOL

Or sue em