And please spare us the "that's from 2010, things are different now" stuff. It's not different, apart from they don't own the whole team, now. If the vehicles are flying Bebevco colors, Bebevco is paying for it.
It's done under the heading of 'marketing', but the CEO is unable to offer any tangible or verifiable benefit the racing involvement has brought to the company or brands. The lack of success the brands enjoy is evidence that this marketing strategy does not work. It's done because the CEO gets off on racing and for no other reason.
You can make excuses and split hairs all you want, but if the company is spending money on useless marketing and in turn has to sell shares to fund its 'projects', then shares are being sold to pay for useless marketing, which just happens to be the CEO's stated passion, one which he is quoted as having said he would "do anything to get back to the track."
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