I just both Fanatec setup for 2500€ 😂 I’m damn happy for all equipment! I love new DD+. Shipment takes 4 days and great response from warehouse. I was informed about every steps! Great!
Yeah mate. I got csl dd in 4 days, got the ali express 8nm psu. Got the srm mini emulator, printed my own adapter to 6x70mm and can put any wheel on it. Cannot complain. Most places charge $100aud per NM and it's like $700aud for all of the above and 8nm
Dobrze dla Ciebie, też wydałem sporo kasy na swój setup i po lekko ponad pół roku baza traci łączność i jest na ten moment niegrywalna. Oczywiście zero odpowiedzi od Fanateca i telefonów też nie odbierają. W każdym razie Twój model posiada już wbudowany QR2, więc ten problem powinien Cię ominąć.
You've been lucky! I've ordered and haven't heard a word. Only showing "Handed over to warehouse" been stuck there for some time. Just want to hear when the hell I'm getting my stuff!!
I have one question about all this.. how and when did the debt go from 30 million to 70 million?? I thought a month or so ago they said they had a debt of around 30 million... And also happy to hear that people are still buying fanatec and having faith in this company..
A 'profitable' quarter is good but profitability doesn't mean they can service their debt. If they can't service the debt, they're insolvent regardless of what the Q1 income statement says.
For me if Fanatec is sold to corsair I will just not bother with them as a company personally, I was looking to get Fanatec but all this 100% put me off and I picked up a Logitech G Pro instead but have been looking at something from Moza or Simagic as I want something with a good eco system in the future but I will not be looking at Fanatec if sold.
Well this is all super weird. I guess I'm going to go ahead and take a chance and buy some things. IDK. I'm tired of the weirdness affecting my purchases.
I bought the McLaren bundle and got it in 8 days shipped overseas. everything works fine and went according to plan. The takeover is paying its dues and I recommend especially for new racers
I ordered a Gran Tourismo DD Pro end of may. I got a Email that they have paypal issues 3 or 4 days later reassuring me that they will process my order untill Friday (today) I'm checking the order site regurarly as well as my emails... Nothing changed yet...
1:40 - Maybe because it has to do with a German company and Germans probably comment as well? - Because I figured that "fund" in Dutch (my native language) is "fonds" and it's basically the same in German. - I guess some people do it automatically.
I guess you can be profitable but still not be able to meet your debt repayments. Sounds like the debts they have are tens of millions and the profits are only a couple of million and banks don’t wait when they can get all kind back intime.
I hold nothing against you, but then I also have no stake in this. You're just telling it how it is and it interests me as a more casual racing-enjoyer, but some people seem to get triggered. - I'm just eating popcorn...
Seemed pretty weird to me as well. Pretty scary to see the fanatec stock went down by almost 25 € from 2021/2 till now. The stocks are worth almost nothing. So weird to see. Thought about buying some, but the fact that the company is 70$mil in debt when they’re only projected to make 110$mil is just scary. Someone has had to screw up big time.
I didn't know there was such a chaos until I had my GT DD Pro (which I bought less than a year ago) disconnecting all the time. It was two weeks ago, since then no answear from Fanatec after submiting the issue and no one picking the phone when I try to call instead. So now I'm waiting one more week so I can order the QR2, but it's a guess because I didn't find any info if this even fix the problem. Can anyone confirm that will work? To be honest I'm really waiting for a Moza to release a wheel base officialy for PS.
is the shaft pushed fully into the wheel base,mine kept slightly coming out and disconnecting, so got a new shaft clamp that screws up on both sides,and has not come loose since
@@kylesmith881 Are you drunk? What about the total debt owed and the EBITDA didn't you understand mate? It might come as a total surprise to you - but "profits", as you so eloquently put it in farmer language, would be profits in this case - even if they are made on top of debt. All companies take loans, even Apple or NVIDIA. The debt to EBITDA ratio in this case just isn't very high - they could literally repay all debt from just the Q1 earnings plus there are tons of easy adjustments (sponsorships, advertising etc.). And that is alarming. It's also bad for us as consumers - even if we use other brands. Competition is a driver of innovation - not corruption and in the worst case hostile takeovers.
The current product range is great, but they have obviously lost their way and in the future its all down hill from here. Especially if they get bought out.
To be fair, you had nothing at all to do with my decision to pretty much never buy Fanatec gear. Nobody did. That's my own decision, based on the fact that it's incredibly overpriced. I can get quite a bit better quality gear at similar price points from the likes of Asetek, Simucube, Simagic, etc. In fact, these brands make things Fanatec doesn't even have an answer for, such as FFB and hydraulic brakes.
Kinda nervous and have been back and forth about dropping ca. 1K given the current situation. Anyone bought Fanatec gear in the past weeks (EU/UK)? Did you have any issues? Thanks
Ordered on 31st of may. I got an email that something went wrong in their system that per paypal transactions weren't flagged as paid and that they're working on resolving it and the order should go to the logistics center by Today. Didn't get further updates yet but I'll keep you posted if it changes
Ordered, couple days after at the door, refund quick due to 1st cancelled order, tech support great response and helpful. That was my experience in the last week.
Buying into a new fanatec ecosystem in 2024 is a bad financial decision. Even if you only play on Playstation, simagic along with the cortex adapter for Playstation is a much better option than fanatec and possibly logitech too, depending on if you want more than just a base with pedals and 1 wheel option.
I wish I knew that earlier. I bought GT DD Pro because it was (I think) only full bundle from Fanatec at the time. Not even a year later, the wheel base started to loosing connection and now it doesn't even turn on anymore. ZERO response from Fanatec... My only hope now is that installing QR2 would fix it.
Some people just want to have native Playstation compatibility rather than playing with an adapter. You can claim that Simagic is way better all you want, but remember - a single update from Sony can very easily block 3rd party wheel support if they want to.
@@kosths_mlmt sounds logical at first but it doesn't work that way. It emulates a licensed device. If that code is broken, it will mean the licensed source device will also not work. Hasn't happened ever. It's just a half truth perpetuated by those who risk to lose and others who don't know better
The truth will come out in the end it always does. It will take a lot of different things to happen for people to come back to Fanatec or even start there sim racing journey with Fanatec after all this has happened. Only time will tell.
its all about the money. there are some dirty people in the world who will destroy a company to get it for cheap, its a long play, and if they win, then gamers lose. I just recently purchased the cs dd, and other things, got delivered in a week overseas. I have some problems with it, but i'm happy. just waiting for some other things to come back in stock so I can get more wheels done.
The last thing Fanatec need is Thomas Jackermeir back in any way, shape or form, he steered the company to near destruction. Corsair would take Fanatec forward and run it as a big company. The Corsair deal includes a shareholder compensation package (which is likely derisory but better than nothing at all). A few crybaby members of staff should be shown the door, it's a business!!
Glad I moved on from Fanatec to simagic. They were a good enough mid tier stepping stone coming from the logitech, but I couldn't care less what happens to the company. Their software sucks, their customer service sucks, and the majority of their products are mid.
Don't listen to the haters Kireth, i was negative at first because it sounded like you wanted to hurt Fanatec but I understand you're just reporting the truth!!
fanatec has had poor cusomer service for year a couple of time inside sim racing mentioned they had customer service issues and some of rthem videos are like 15+ years old at this point, we are not beeing told the hole story as its nothing new with fanatec having bas customer service so there has to be more to this
theres nothing wrong with fanatec equipment. people LIKE ME went for another manufacturer because they were having issues getting their stuff to anyone! all new fanatec purchasers said if you called them for an update, they had crap customer support / information. thats why....
Nice click bait video. So they're profitable in Q1 2024? Nicely skipping over the €5 million sales carried over from 2023........ahhhh not so profitable then. I guess truth and accuracy doesn't get clicks and subscribers.
Do you even know how business works? The bank is in it to make money, they don't care what fanatec sales looks like now, it's not their problem. They are correct, videos like this make people DONT want to buy their products. I'm glad I DIDNT listen to your nonsense. I still support Fanatec!!! Do better!!!
I wish Fanatec would support their custumers same way. I just had an issue with my wheel base and there is zero response for over two weeks from them and service phone is disabled. So if I don't find a way to fix it myself, then it's like throwing few hundreds euros in the garbage.
@nako6429 Yeah, that's the part that sucks. Hopefully, they can get all of that sorted out quickly with the new management. What kind of issues are you having?
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I just both Fanatec setup for 2500€ 😂 I’m damn happy for all equipment! I love new DD+. Shipment takes 4 days and great response from warehouse. I was informed about every steps! Great!
I can confirm. I received my 2200€ setup in 5 days last month. All good.
Yeah mate.
I got csl dd in 4 days, got the ali express 8nm psu. Got the srm mini emulator, printed my own adapter to 6x70mm and can put any wheel on it.
Cannot complain.
Most places charge $100aud per NM and it's like $700aud for all of the above and 8nm
Dobrze dla Ciebie, też wydałem sporo kasy na swój setup i po lekko ponad pół roku baza traci łączność i jest na ten moment niegrywalna. Oczywiście zero odpowiedzi od Fanateca i telefonów też nie odbierają.
W każdym razie Twój model posiada już wbudowany QR2, więc ten problem powinien Cię ominąć.
You've been lucky! I've ordered and haven't heard a word. Only showing "Handed over to warehouse" been stuck there for some time. Just want to hear when the hell I'm getting my stuff!!
@@FarCry164when and what did you order?
I received my clubsport f1 and pedals 8 days after I ordered them. Ordered on 5/28/24.
I have one question about all this.. how and when did the debt go from 30 million to 70 million?? I thought a month or so ago they said they had a debt of around 30 million... And also happy to hear that people are still buying fanatec and having faith in this company..
So they paid 70mil profit to the shareholders that they actually didnt have.. and thus created a loss of 70mil? 🤑
A 'profitable' quarter is good but profitability doesn't mean they can service their debt. If they can't service the debt, they're insolvent regardless of what the Q1 income statement says.
For me if Fanatec is sold to corsair I will just not bother with them as a company personally, I was looking to get Fanatec but all this 100% put me off and I picked up a Logitech G Pro instead but have been looking at something from Moza or Simagic as I want something with a good eco system in the future but I will not be looking at Fanatec if sold.
I really appriciate that you made so many videos about this topic - and want even to continue covering this story.
Thank you very much for that!
No problem thank you for your support!
Well this is all super weird. I guess I'm going to go ahead and take a chance and buy some things. IDK. I'm tired of the weirdness affecting my purchases.
I bought the McLaren bundle and got it in 8 days shipped overseas. everything works fine and went according to plan. The takeover is paying its dues and I recommend especially for new racers
Eight days from the day you ordered it? Or eight days after the "Ships in 4-7 days"
I ordered a Gran Tourismo DD Pro end of may. I got a Email that they have paypal issues 3 or 4 days later reassuring me that they will process my order untill Friday (today) I'm checking the order site regurarly as well as my emails... Nothing changed yet...
@@FarCry164 after I ordered
You're doing a good job reporting on this. It is information people need to know, and you're the only one reporting on it.
A lot of smoke and mirrors going on here!
1:40 - Maybe because it has to do with a German company and Germans probably comment as well? - Because I figured that "fund" in Dutch (my native language) is "fonds" and it's basically the same in German. - I guess some people do it automatically.
Fund is “Fond” in German.
Just got the DD pro a few weeks ago came in Early i have no complaints
I guess you can be profitable but still not be able to meet your debt repayments. Sounds like the debts they have are tens of millions and the profits are only a couple of million and banks don’t wait when they can get all kind back intime.
Corporate coop and assassins. Much of the noise on the Internet is unsubstantiated FUD. Pics or it didn't happen matter.
Their profits doubled but they're still bankrupt because 0x2 still equals 0 lol
Very informative, thanks Kireth, 😊.
Like deployed 👍
Loads of orders lately Iv put in no issues at all. Had an rma issue also which was flawless.
I made more orders since they have been in financial trouble hoping to help them get out of trouble
I am also in financial trouble and my donation link is above
I just wanna know when they are gonna make an updated McLaren wheel or another wheel in the 200-300 range that works on Xbox
Also I’ll come back and buy Fanatec! My setup is full Fanatec and it works perfectly for us console racers!
Peddles
Rockin Roll ❤️
This is what I subscribe for! 😎
Tell me there's a war between nerds without saying it. 💀 "The Rebel Alliance is taking over from Endor"
I hold nothing against you, but then I also have no stake in this. You're just telling it how it is and it interests me as a more casual racing-enjoyer, but some people seem to get triggered. - I'm just eating popcorn...
Seemed pretty weird to me as well. Pretty scary to see the fanatec stock went down by almost 25 € from 2021/2 till now. The stocks are worth almost nothing. So weird to see. Thought about buying some, but the fact that the company is 70$mil in debt when they’re only projected to make 110$mil is just scary. Someone has had to screw up big time.
I didn't know there was such a chaos until I had my GT DD Pro (which I bought less than a year ago) disconnecting all the time. It was two weeks ago, since then no answear from Fanatec after submiting the issue and no one picking the phone when I try to call instead.
So now I'm waiting one more week so I can order the QR2, but it's a guess because I didn't find any info if this even fix the problem. Can anyone confirm that will work?
To be honest I'm really waiting for a Moza to release a wheel base officialy for PS.
is the shaft pushed fully into the wheel base,mine kept slightly coming out and disconnecting, so got a new shaft clamp that screws up on both sides,and has not come loose since
Tech support is responding in few hours.
Fanatec profits double when there share holders get no money for there stock on the sale of the company is crazy.
Profits aren’t profits if they’re build off of debt 😂
@@kylesmith881 Are you drunk? What about the total debt owed and the EBITDA didn't you understand mate?
It might come as a total surprise to you - but "profits", as you so eloquently put it in farmer language, would be profits in this case - even if they are made on top of debt.
All companies take loans, even Apple or NVIDIA.
The debt to EBITDA ratio in this case just isn't very high - they could literally repay all debt from just the Q1 earnings plus there are tons of easy adjustments (sponsorships, advertising etc.).
And that is alarming.
It's also bad for us as consumers - even if we use other brands. Competition is a driver of innovation - not corruption and in the worst case hostile takeovers.
I just want to know ehe they are going to get on track and start shipping on time!
The current product range is great, but they have obviously lost their way and in the future its all down hill from here. Especially if they get bought out.
Fond is Fund in german..
If they got hacked, does that explain why they set their status to "we need to talk..." for about 3 mins before deleting on Wednesday?
Obviously.
To be fair, you had nothing at all to do with my decision to pretty much never buy Fanatec gear. Nobody did. That's my own decision, based on the fact that it's incredibly overpriced. I can get quite a bit better quality gear at similar price points from the likes of Asetek, Simucube, Simagic, etc. In fact, these brands make things Fanatec doesn't even have an answer for, such as FFB and hydraulic brakes.
These are expensive products and people tend to do pretty extensive research before purchasing
When thy start banning you from sites, means you reported some truth they didn't want explained? Keep up good the work!
Thank you!
Kinda nervous and have been back and forth about dropping ca. 1K given the current situation. Anyone bought Fanatec gear in the past weeks (EU/UK)? Did you have any issues? Thanks
Ordered on 31st of may. I got an email that something went wrong in their system that per paypal transactions weren't flagged as paid and that they're working on resolving it and the order should go to the logistics center by Today. Didn't get further updates yet but I'll keep you posted if it changes
Ordered, couple days after at the door, refund quick due to 1st cancelled order, tech support great response and helpful.
That was my experience in the last week.
Didn't change a thing till monday evening. Canceled my order and got it refunded today
Buying into a new fanatec ecosystem in 2024 is a bad financial decision. Even if you only play on Playstation, simagic along with the cortex adapter for Playstation is a much better option than fanatec and possibly logitech too, depending on if you want more than just a base with pedals and 1 wheel option.
I wish I knew that earlier. I bought GT DD Pro because it was (I think) only full bundle from Fanatec at the time. Not even a year later, the wheel base started to loosing connection and now it doesn't even turn on anymore.
ZERO response from Fanatec...
My only hope now is that installing QR2 would fix it.
Some people just want to have native Playstation compatibility rather than playing with an adapter. You can claim that Simagic is way better all you want, but remember - a single update from Sony can very easily block 3rd party wheel support if they want to.
@@kosths_mlmt sounds logical at first but it doesn't work that way. It emulates a licensed device. If that code is broken, it will mean the licensed source device will also not work. Hasn't happened ever. It's just a half truth perpetuated by those who risk to lose and others who don't know better
The truth will come out in the end it always does.
It will take a lot of different things to happen for people to come back to Fanatec or even start there sim racing journey with Fanatec after all this has happened. Only time will tell.
any morte recent updates
its all about the money. there are some dirty people in the world who will destroy a company to get it for cheap, its a long play, and if they win, then gamers lose. I just recently purchased the cs dd, and other things, got delivered in a week overseas. I have some problems with it, but i'm happy. just waiting for some other things to come back in stock so I can get more wheels done.
The last thing Fanatec need is Thomas Jackermeir back in any way, shape or form, he steered the company to near destruction. Corsair would take Fanatec forward and run it as a big company. The Corsair deal includes a shareholder compensation package (which is likely derisory but better than nothing at all). A few crybaby members of staff should be shown the door, it's a business!!
Shareholders get nothing, been clearly communicatee
@@ThomasMalmberg Not true
Yeah fond or fonds is just German. (Although I do of course realize, it's probably not an "original German word" in the first place...)
What about The Fonz?
@@Kireth that word, I don't know... 🤷🏼♂️
Glad I moved on from Fanatec to simagic. They were a good enough mid tier stepping stone coming from the logitech, but I couldn't care less what happens to the company. Their software sucks, their customer service sucks, and the majority of their products are mid.
Don't listen to the haters Kireth, i was negative at first because it sounded like you wanted to hurt Fanatec but I understand you're just reporting the truth!!
I hadnt realised Kireth had visited Fanatec and interviewed the former ceo, he's never mentioned it before??? Lol
Yep. And he drove the Nurburgring 😅
Really, didn't know that either. Lol
FRA = Thomas J. lol
fanatec has had poor cusomer service for year a couple of time inside sim racing mentioned they had customer service issues and some of rthem videos are like 15+ years old at this point, we are not beeing told the hole story as its nothing new with fanatec having bas customer service so there has to be more to this
theres nothing wrong with fanatec equipment. people LIKE ME went for another manufacturer because they were having issues getting their stuff to anyone! all new fanatec purchasers said if you called them for an update, they had crap customer support / information. thats why....
You deserve heat on this! Headline post. ‘Fanatec closing down’. Not inconvenient truth but the truth of irresponsible reporting and sensationalising.
Welcome to American Capitalism
Thomas got greedy simple... let corsair take over already
Nice click bait video. So they're profitable in Q1 2024? Nicely skipping over the €5 million sales carried over from 2023........ahhhh not so profitable then. I guess truth and accuracy doesn't get clicks and subscribers.
These kinds of videos really push me away from your channel. Stay focused on sim racing man… we don’t care about all this BS. We are sim racers..
Nothing wrong with giving us information as to what’s going on with fanatec. Keep up the good work mate, this makes me watch your channel more
Thanks mate 🔥🔥🔥
Do you even know how business works? The bank is in it to make money, they don't care what fanatec sales looks like now, it's not their problem. They are correct, videos like this make people DONT want to buy their products. I'm glad I DIDNT listen to your nonsense. I still support Fanatec!!! Do better!!!
I wish Fanatec would support their custumers same way. I just had an issue with my wheel base and there is zero response for over two weeks from them and service phone is disabled. So if I don't find a way to fix it myself, then it's like throwing few hundreds euros in the garbage.
@nako6429 Yeah, that's the part that sucks. Hopefully, they can get all of that sorted out quickly with the new management. What kind of issues are you having?