HalfTimeSayers
Player Valuation: £30m
Friedkin doesn’t own a dealership group. He is the distributor of Toyotas to dealer groups in a certain part of the US of behalf of Toyota. They will basically store units when they enter the country and distribute them to dealers when they are called down into stock (or they are forced upon the dealers as often happens when there is excess brought into any territory). They are part of the automotive distribution chain, but Billy-Joe Johnson in the Gulf States can’t go buy a car from Friedkin.It would perfectly ok if it is Toyota Corporate doing the sponsorship rather than Friedkin’s dealership group. Completely separate entities.
They are acting as agent or customer of Toyota, they aren’t part of Toyota at all. It’s a decent spot to be in as they are largely insulated from changing demand/margins, and they have been doing it a very long time. Not sure why everyone thinks it’s a given they can coerce Toyota into sponsorship. I hope they do (apart from Toyota branding and dealership corporate identities being heavily red!!), but it would be a bit like us being bought by Hermes delivery and expecting it to result in Next sponsoring us.