F1
Last in the championship, Williams loses money
The boxes are emptying (a little) at Williams. The British team revealed its financial results for the first half of 2019, marked by a terrible last place in the Manufacturers' championship, synonymous with meager income given by the F1.
These are based on the previous season. Thus, the very likely last extended position in 2019 will cause still low inflows of money in 2020, as has already been the case for a year.
A tough year. But this team is made of even tougher stuff.
As we bid farewell to the traditional European season, we pay tribute to the efforts of the whole team, both trackside and back at the factory, who work tirelessly to push the team forward.
We are Williams. pic.twitter.com/OvJzQofi7h
- ROKiT WILLIAMS RACING (@WilliamsRacing) September 9, 2019
The Williams team's revenue between January and June 2019 is 46,3 million pounds (51,74 million euros), compared to 60,7 million pounds (67,83 million euros) in 2018. margin generated being only 0,2 million pounds (220 euros) in 000, Williams suffered a loss of 2019 million pounds (16,8 million euros) in the first half of 18,77.
However, Williams' Advanced Engineering branch (specializing in batteries) pursues a much more lucrative path, with 30,9 million pounds in revenue. All put together, the Williams Grand Prix Holdings entity increases its loss in one year, going from 2,7 million pounds (3,02 million euros) to 18,8 million pounds (21,01 million euros).
The group's boss, Mike O'Driscoll, acknowledges that the loss of title sponsor Martini at the end of 2018 was costly. “Even though we have landed new partnerships with ROKiT and Orlen (personal partner of Robert Kubica. Ed.), there has been a reduction in sponsorship income. »
This falling turnover does not dampen Mike O'Driscoll's motivation. « We have extended the contract with ROKiT until at least 2023. In addition, negotiations with Formula One Management (FOM) and Liberty Media regarding the future of F1 from 2021 are productive.
When finalized, we believe they will represent a much-needed opportunity for Williams to benefit from a more level financial playing field. » May he be right.
Medhi Casaurang
Passionate about the history of motorsport across all disciplines, I learned to read thanks to AUTOhebdo. At least that's what my parents tell everyone when they see my name inside!
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