Teddy Yip
Encyclopedia
Theodore "Teddy" Yip was a businessman from Indonesia who was instrumental in developing Macau
as a tourist destination and who was a Formula One
team owner in the 1970s.
, on the island of Sumatra
, Indonesia
in 1907 to Chinese parents. At that time Indonesia was the Dutch East Indies
, a colony of the Netherlands. Teddy Yip studied in the Netherlands and took Dutch nationality. He moved to Hong Kong
in the 1940s and began to build up his business empire which included travel agencies, hotels, casinos and trading companies. Yip spoke many languages including six Chinese
variants, Dutch
, English
, French
, German
, Malay
and Thai
, which helped him expand his businesses into property and finance .
Yip started racing cars for fun in the 1950s at the wheel of a Jaguar XK120
. In 1962 he and several partners, including his brother-in-law Stanley Ho
, formed the Sociedade de Turismo e Diversoes de Macau
with a monopoly to run all casino
operations and many other leisure activities in Macau, including lotteries, ferries and hotels. Teddy Yip established the Casino Lisboa
along with Stanley Ho
(the brother of his wife Susie Ho) and their two other partners (Yip Hon
and Henry Fok
). The Sociedade de Turismo e Diversoes de Macau
transformed Macau into a major tourist destination. Yip was the force behind the Macau Grand Prix
, a prestigious annual motor racing event in the streets of Macau often won by drivers who would go on to great success in Formula One.
in Formula 5000
and later in Formula One with Team Ensign
in 1974. There followed further involvement in America with Schuppan and then support of Alan Jones in the US Formula 5000 series in 1976. That year he established Theodore Racing
. It was run by Taylor and entered an Ensign for Patrick Tambay
in F1. After a difficult year in 1977, Yip commissioned Ron Tauranac
to build him a Formula One car. The car was difficult to drive and Eddie Cheever
failed to qualify in both Brazil and Argentina but Keke Rosberg
took the car to a shock victory at the 1978 BRDC International Trophy
at Silverstone, a non-championship race that was held in extremely wet conditions that year. Rosberg qualified for only one Grand Prix that year, in South Africa. The car was abandoned in mid-season. In America, Yip financially supported Dan Gurney
's Eagle team.
In 1979, Yip helped to fund Ensign but the car was not a success. The car was driven by Derek Daly
, Patrick Gaillard
, and Marc Surer
but there were no points scored. At the end of 1978 and through 1979 Teddy also funded a British F1 programme with Walter Wolf Racing
WR3, WR4 and WR6 for Dave Kennedy
who finished runner up in the series. His British F1 programme also ran Desiré Wilson
in Wolf WR4 to a famous win at Brands Hatch in 1980.
Kennedy moved to Shadow in 1980 with, initially, Stefan Johansson
and later Geoff Lees
as team mate but the team was chronically underfunded and using a very poorly engineered DN11 chassis. After a few races Yip took over ownership from founder Don Nichols and introduced a DN12 chassis which also proved a failure. After both cars failed to qualify for the French Grand Prix in June Yip closed down the Shadow team. Yip rethought his involvement in racing and ended most of his other activities in order to concentrate on F1.
With Sid Taylor and Julian Randles he established Theodore Racing Ltd. and recruited Tony Southgate
and team manager Jo Ramirez
. The new car was dubbed the TY01 and was driven by Tambay at the start of 1981. In the mid-season Tambay was lured away by Ligier and Yip gave the drive to Marc Surer. The same car was developed in 1982 and it became obvious that small teams could not easily survive in the turbo era. Yip merged Theodore with Ensign and used the Nigel Bennett-designed Ensign N183 design as a Theodore. The team hired drivers Johnny Cecotto
and Roberto Guerrero
but at the end of that season the team shut down and Mo Nunn moved to America, where he enjoyed great success as a race engineer through the 1980s and into the 1990s and eventually set up a successful team of his own in Champ Car
.
Yip had long run a team each year at the Macau GP and in 1983 was behind the switch from Formula Atlantic
rules to Formula Three
rules. The result was a huge success and Theodore Racing has won the event many times, notably with Ayrton Senna
in 1983.
Yip reduced his involvement in motor racing sponsorship in the late 1980s and finally sold his share of his company in Macau to his brother-in-law.
Macau
Macau , also spelled Macao , is, along with Hong Kong, one of the two special administrative regions of the People's Republic of China...
as a tourist destination and who was a Formula One
Formula One
Formula One, also known as Formula 1 or F1 and referred to officially as the FIA Formula One World Championship, is the highest class of single seater auto racing sanctioned by the Fédération Internationale de l'Automobile . The "formula" designation in the name refers to a set of rules with which...
team owner in the 1970s.
Early life and business career
Yip was born in MedanMedan
- Demography :The city is Indonesia's fourth most populous after Jakarta, Surabaya, and Bandung, and Indonesia's largest city outside of Java island. Much of the population lies outside its city limits, especially in Deli Serdang....
, on the island of Sumatra
Sumatra
Sumatra is an island in western Indonesia, westernmost of the Sunda Islands. It is the largest island entirely in Indonesia , and the sixth largest island in the world at 473,481 km2 with a population of 50,365,538...
, Indonesia
Indonesia
Indonesia , officially the Republic of Indonesia , is a country in Southeast Asia and Oceania. Indonesia is an archipelago comprising approximately 13,000 islands. It has 33 provinces with over 238 million people, and is the world's fourth most populous country. Indonesia is a republic, with an...
in 1907 to Chinese parents. At that time Indonesia was the Dutch East Indies
Dutch East Indies
The Dutch East Indies was a Dutch colony that became modern Indonesia following World War II. It was formed from the nationalised colonies of the Dutch East India Company, which came under the administration of the Netherlands government in 1800....
, a colony of the Netherlands. Teddy Yip studied in the Netherlands and took Dutch nationality. He moved to Hong Kong
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
in the 1940s and began to build up his business empire which included travel agencies, hotels, casinos and trading companies. Yip spoke many languages including six Chinese
Chinese language
The Chinese language is a language or language family consisting of varieties which are mutually intelligible to varying degrees. Originally the indigenous languages spoken by the Han Chinese in China, it forms one of the branches of Sino-Tibetan family of languages...
variants, Dutch
Dutch language
Dutch is a West Germanic language and the native language of the majority of the population of the Netherlands, Belgium, and Suriname, the three member states of the Dutch Language Union. Most speakers live in the European Union, where it is a first language for about 23 million and a second...
, English
English language
English is a West Germanic language that arose in the Anglo-Saxon kingdoms of England and spread into what was to become south-east Scotland under the influence of the Anglian medieval kingdom of Northumbria...
, French
French language
French is a Romance language spoken as a first language in France, the Romandy region in Switzerland, Wallonia and Brussels in Belgium, Monaco, the regions of Quebec and Acadia in Canada, and by various communities elsewhere. Second-language speakers of French are distributed throughout many parts...
, German
German language
German is a West Germanic language, related to and classified alongside English and Dutch. With an estimated 90 – 98 million native speakers, German is one of the world's major languages and is the most widely-spoken first language in the European Union....
, Malay
Malay language
Malay is a major language of the Austronesian family. It is the official language of Malaysia , Indonesia , Brunei and Singapore...
and Thai
Thai language
Thai , also known as Central Thai and Siamese, is the national and official language of Thailand and the native language of the Thai people, Thailand's dominant ethnic group. Thai is a member of the Tai group of the Tai–Kadai language family. Historical linguists have been unable to definitively...
, which helped him expand his businesses into property and finance .
Yip started racing cars for fun in the 1950s at the wheel of a Jaguar XK120
Jaguar XK120
The Jaguar XK120 is a sports car which was manufactured by Jaguar between 1948 and 1954. It was Jaguar's first sports car since the SS 100, which ceased production in 1940.-History:...
. In 1962 he and several partners, including his brother-in-law Stanley Ho
Stanley Ho
Stanley Ho, GBM, GLM, GBS, GML, OBE , also known as Ho Hung Sun, Stanley Ho Hung Sun, is an entrepreneur in Hong Kong and Macau. Ho is sometimes nicknamed "The King of Gambling", reflecting the government-granted monopoly he held of the Macau gambling industry for 40 years...
, formed the Sociedade de Turismo e Diversoes de Macau
Sociedade de Turismo e Diversões de Macau
The Sociedade de Turismo e Diversões de Macau, SA is a company in Macau owned by Stanley Ho and his family. Historically it held a monopoly to Macau's gambling industry as the only licensee for casinos. In 2002, the Macau government began issuing more licenses and the monopoly was broken...
with a monopoly to run all casino
Casino
In modern English, a casino is a facility which houses and accommodates certain types of gambling activities. Casinos are most commonly built near or combined with hotels, restaurants, retail shopping, cruise ships or other tourist attractions...
operations and many other leisure activities in Macau, including lotteries, ferries and hotels. Teddy Yip established the Casino Lisboa
Casino Lisboa, Macau
The original casino and the 12-storey round hotel tower were built in 1970 by Stanley Ho, Teddy Yip, Yip Hon and Henry Fok. A 270-room extension was added in 1991 for a total of 927 rooms. In 2006, another extension, the Grand Lisboa, was built next to the current complex. Therefore a total of 2362...
along with Stanley Ho
Stanley Ho
Stanley Ho, GBM, GLM, GBS, GML, OBE , also known as Ho Hung Sun, Stanley Ho Hung Sun, is an entrepreneur in Hong Kong and Macau. Ho is sometimes nicknamed "The King of Gambling", reflecting the government-granted monopoly he held of the Macau gambling industry for 40 years...
(the brother of his wife Susie Ho) and their two other partners (Yip Hon
Yip Hon
Yip Hon was a gambling tycoon in South China. His wealth was estimated to be HK$ 100 million. In his childhood, he stayed in Kong Mun of Kwangtung, and usually participated in gambling with his pocket money. He was nicknamed Kwai Wong Yip Hon (1904 – 7 May 1997) was a gambling tycoon in South...
and Henry Fok
Henry Fok
Henry Fok Ying Tung was a Hong Kong businessman. He has ancestral roots in Nansha, Panyu, now part of Guangzhou, Guangdong). Fok was the vice-chairman of the National Committee of the Chinese People's Political Consultative Conference of PRC since March 1993, and was possibly the most powerful...
). The Sociedade de Turismo e Diversoes de Macau
Sociedade de Turismo e Diversões de Macau
The Sociedade de Turismo e Diversões de Macau, SA is a company in Macau owned by Stanley Ho and his family. Historically it held a monopoly to Macau's gambling industry as the only licensee for casinos. In 2002, the Macau government began issuing more licenses and the monopoly was broken...
transformed Macau into a major tourist destination. Yip was the force behind the Macau Grand Prix
Macau Grand Prix
The Macau Grand Prix is a motor-racing event held annually in Macau, one of China's Special Administrative Regions. It is known for being the only street circuit racing event in which both car and motorcycle races are held...
, a prestigious annual motor racing event in the streets of Macau often won by drivers who would go on to great success in Formula One.
Motor racing
In the early 1970s Yip met Sid Taylor, a racing team manager and former racing driver from Ireland. Teddy Yip agreed to sponsor Vern SchuppanVern Schuppan
Vernon "Vern" Schuppan is a racing driver from Whyalla, South Australia. Schuppan drove in various categories, participating in Formula One, the Indianapolis 500 and most successfully in sports car racing.-Formula One:...
in Formula 5000
Formula 5000
Formula 5000 was an open wheel, single seater auto-racing formula that ran in different series in various regions around the world from 1968 to 1982. It was originally intended as a low-cost series aimed at open-wheel racing cars that no longer fit into any particular formula...
and later in Formula One with Team Ensign
Ensign (racing team)
Ensign was a Formula One constructor from Britain. They participated in 133 grands prix, entering a total of 155 cars. Ensign scored 19 championship points and no podium finish...
in 1974. There followed further involvement in America with Schuppan and then support of Alan Jones in the US Formula 5000 series in 1976. That year he established Theodore Racing
Theodore Racing
Theodore Racing was a Formula One constructor from Hong Kong founded by real estate magnate and millionaire Teddy Yip. They participated in 51 grands prix, entering a total of 64 cars. They scored 2 championship points.-History:...
. It was run by Taylor and entered an Ensign for Patrick Tambay
Patrick Tambay
Patrick Daniel Tambay is a French former racing driver. He competed in 123 Formula One World Championship Grands Prix, winning twice, securing 5 pole positions and scoring a total of 103 Championship points...
in F1. After a difficult year in 1977, Yip commissioned Ron Tauranac
Ron Tauranac
Ron Tauranac is the former Australian designer for Formula One driver Jack Brabham from 1962 until Brabham's retirement as a driver at the end of the 1970 season. Tauranac briefly owned and managed the Brabham team in 1971, but he sold the team to Bernie Ecclestone in late 1971...
to build him a Formula One car. The car was difficult to drive and Eddie Cheever
Eddie Cheever
Edward "Eddie" McKay Cheever, Jr. is an American racing driver who raced for almost thirty years in Formula One, Sports cars, CART and the Indy Racing League. Cheever participated in 143 World Championship Formula One races and started 132, more than any other American, driving for nine different...
failed to qualify in both Brazil and Argentina but Keke Rosberg
Keke Rosberg
Keijo Erik Rosberg , nicknamed "Keke", is a Finnish former racing driver and winner of the Formula One World Championship. He was the first Finnish driver to compete regularly in the series. Rosberg grew up in Oulu and Iisalmi, Finland...
took the car to a shock victory at the 1978 BRDC International Trophy
1978 BRDC International Trophy
The XXX BRDC International Trophy was held on 19 March 1978 at the Silverstone Circuit, England. It was the 30th running of the International Trophy, and the last to non-Championship Formula One regulations. The race was held over 40 laps of the Silverstone Grand Prix circuit...
at Silverstone, a non-championship race that was held in extremely wet conditions that year. Rosberg qualified for only one Grand Prix that year, in South Africa. The car was abandoned in mid-season. In America, Yip financially supported Dan Gurney
Dan Gurney
Daniel Sexton Gurney is an American racing driver, race car constructor, and team owner.The son of a Metropolitan Opera star, he was born in Port Jefferson, New York, but moved to California as a teenager...
's Eagle team.
In 1979, Yip helped to fund Ensign but the car was not a success. The car was driven by Derek Daly
Derek Daly
Derek Daly is a former racing driver from the Republic of Ireland. He won the 1977 British Formula Three Championship, and competed as a professional racing driver for 17 years participating in 64 World Championship Formula One Grands Prix, debuting on April 2, 1978. He scored a total of 15...
, Patrick Gaillard
Patrick Gaillard
Patrick Gaillard is a former racing driver from France. He participated in 5 World Championship Formula One Grands Prix, debuting on July 1, 1979. He scored no championship points....
, and Marc Surer
Marc Surer
Marc Surer is a former racing driver from Switzerland. He participated in 88 Formula One World Championship Grands Prix, debuting on 9 September 1979. He scored a total of 17 championship points....
but there were no points scored. At the end of 1978 and through 1979 Teddy also funded a British F1 programme with Walter Wolf Racing
Walter Wolf Racing
Walter Wolf Racing was a Formula One constructor from 1977 to 1980, notable for winning the very first race the team entered.-1975-77:In 1975, the Slovenian-Austrian-Canadian businessman Walter Wolf had started to appear at many of the F1 races during the season. A year later, he bought 60% of...
WR3, WR4 and WR6 for Dave Kennedy
Dave Kennedy
David Kennedy is a former racing driver from the Republic of Ireland. He was one of his country's first Grand Prix drivers, and is widely seen as having helped pioneer the Irish move into international racing....
who finished runner up in the series. His British F1 programme also ran Desiré Wilson
Desiré Wilson
Desiré Randall Wilson is a former racing driver from South Africa, one of only five women to have competed in Formula One. She entered one Formula One World Championship Grand Prix in 1980 with a non-works Williams FW07 prepared by Brands Hatch Racing, but failed to qualify...
in Wolf WR4 to a famous win at Brands Hatch in 1980.
Kennedy moved to Shadow in 1980 with, initially, Stefan Johansson
Stefan Johansson
Stefan Nils Edwin Johansson is a former Formula One driver from who drove for among others both Ferrari and McLaren during his Grand Prix career. Since leaving Formula One he has raced in a number of categories, including CART, various kinds of Sports car racing, and Grand Prix Masters...
and later Geoff Lees
Geoff Lees
Geoffrey Lees is a former racing driver from England. He participated in 12 Formula One World Championship Grands Prix, debuting on 16 July 1978. He scored no championship points.-Career:...
as team mate but the team was chronically underfunded and using a very poorly engineered DN11 chassis. After a few races Yip took over ownership from founder Don Nichols and introduced a DN12 chassis which also proved a failure. After both cars failed to qualify for the French Grand Prix in June Yip closed down the Shadow team. Yip rethought his involvement in racing and ended most of his other activities in order to concentrate on F1.
With Sid Taylor and Julian Randles he established Theodore Racing Ltd. and recruited Tony Southgate
Tony Southgate
Tony Southgate is a British engineer and former racing car designer. He designed many successful cars, including Jaguar's Le Mans-winning XJR-9, and cars for almost every type of circuit racing. He was responsible for the chassis design of Ford's RS200 Group B rally car...
and team manager Jo Ramirez
Jo Ramirez
Joaquín "Jo" Ramírez is an author and retired employee of several motor racing teams. From 1984 to 2001 Ramirez was coordinator of the McLaren Formula One team, including during the infamous Prost / Senna clash of the late-1980s.The third of eight children, Ramírez was born in Mexico City and...
. The new car was dubbed the TY01 and was driven by Tambay at the start of 1981. In the mid-season Tambay was lured away by Ligier and Yip gave the drive to Marc Surer. The same car was developed in 1982 and it became obvious that small teams could not easily survive in the turbo era. Yip merged Theodore with Ensign and used the Nigel Bennett-designed Ensign N183 design as a Theodore. The team hired drivers Johnny Cecotto
Johnny Cecotto
Alberto "Johnny" Cecotto is a former Grand Prix motorcycle road racer and Formula One driver...
and Roberto Guerrero
Roberto Guerrero
Roberto José Guerrero Isaza is a former racing driver from Colombia. He participated in 29 Formula One Grands Prix, debuting on 23 January 1982...
but at the end of that season the team shut down and Mo Nunn moved to America, where he enjoyed great success as a race engineer through the 1980s and into the 1990s and eventually set up a successful team of his own in Champ Car
Cart
A cart is a vehicle designed for transport, using two wheels and normally pulled by one or a pair of draught animals. A handcart is pulled or pushed by one or more people...
.
Yip had long run a team each year at the Macau GP and in 1983 was behind the switch from Formula Atlantic
Formula Atlantic
Formula Atlantic is a specification of open wheel racing car developed in the 1970s. It was used in professional racing through the IMSA Atlantic Championship until 2009 and is currently primarily used in amateur racing through Sports Car Club of America Formula Atlantic.-History:The history of...
rules to Formula Three
Formula Three
Formula Three, also called Formula 3 or F3, is a class of open-wheel formula racing. The various championships held in Europe, Australia, South America and Asia form an important step for many prospective Formula One drivers...
rules. The result was a huge success and Theodore Racing has won the event many times, notably with Ayrton Senna
Ayrton Senna
Ayrton Senna da Silva was a Brazilian racing driver. A three-time Formula One world champion, he is widely regarded as one of the greatest F1 drivers of all time...
in 1983.
Yip reduced his involvement in motor racing sponsorship in the late 1980s and finally sold his share of his company in Macau to his brother-in-law.