Richard Hammond has disclosed that he used substantial amounts of his personal wealth to pay staff at his car restoration business, The Smallest Cog, during periods of financial difficulty. The former Top Gear host, 56, spoke about the pressures of keeping the venture afloat in an interview with The Telegraph.
Financial Strain and Personal Sacrifice
Hammond, who co-owned the business since 2008, admitted there were moments when he questioned whether launching the workshop had been a wise decision. He said: "We have had moments, just like any business. Plenty of times when you think, 'I really wish I hadn't started this.' But right now we're in a really good place. We have a fantastic team, who are really motivated."
He also revealed that he had personally intervened to cover the firm's outgoings, including staff salaries. "I have done that, yeah. Fortunes, just to pay people's salaries. But now it's just about supporting itself. Which is what I always wanted to do. It's not going to make me any money, but if it doesn't take my money, that's good. I've sold a lot of cars to keep this."
The Smallest Cog and Its Vehicle Collection
The Smallest Cog, established five years ago with a team of mechanics and craftsmen, has been chronicled in the Discovery+ programme Richard Hammond's Workshop. The workshop houses a notable collection of vehicles, including a Land Rover Series 1, a Porsche, a Rolls-Royce, a Jaguar XJ and a Ferrari.
Hammond's remarks come amid broader shifts in his business interests. Earlier this month, reports confirmed that Hamster's Wheel Productions, the independent production company he established with his former wife, Mindy, in 2008, had gone into voluntary liquidation after 18 years of trading. The company produced programmes including Richard Hammond's Blast Lab, Wild Weather and Lab Rats. Despite winding down operations, the firm remained financially sound, with documents lodged at Companies House showing £2.3 million in assets and an additional £1.45 million owed to the company, plus £176,573 recoverable in corporation tax.
Personal Losses and Career Changes
Hammond had previously disclosed on the High Performance podcast that he had suffered significant financial losses from his earnings on The Grand Tour. He said: "Don't forget, I've also, in the last two years, lost my father, my dog, my marriage, my house [laughter] and a chunk of the money I earned from The Grand Tour."
During the podcast, Jake asked about the latest series and noted that Hammond had invested £500,000 of his own money in the venture. Hammond replied: "And since then, I've got divorced. So it's not altogether brilliant."
His father, Alan, died from cancer aged 80 in February last year, while Richard and Mindy confirmed their separation in January after almost three decades together. The final episode of The Grand Tour also marked the end of his 22-year on-screen partnership with Clarkson and May.
Speaking about the upheaval, he told The Telegraph: "Yeah, quite a lot's happened," before adding: "but they're the things that happen to people in their 50s, aren't they? I think we are designed to deal with those things. And coming in here, there's an air of optimism around the workshop now."
