Document reveals $110 MILLION blow for F1 team

One team on the Formula 1 grid have suffered a huge $110 million financial blow, an official document has revealed.

The team in question are Williams Racing - currently owned by US private investment firm Dorilton Capital.

READ MORE: Horner makes Ricciardo guarantee as Red Bull chief pays EMOTIONAL tribute following F1 exit

Despite achieving its best Constructors' Championship result since 2017, the iconic British team’s finances have taken a significant hit, reflecting a challenging period both on and off the track.

The loss represents a sharp increase from the previous year when the team reported a deficit of $23.4 million.

Revenues fell from $186.8 million in 2022 to $166.1 million in 2023, a drop largely attributed to reduced prize money following Williams’ last-place finish in the 2022 Constructors' Championship.

In an official statement, the team led by principal James Vowles cited this as a key factor: "Revenue was lower in 2023 as a result of lower commercial rights revenue associated with finishing 10th in the 2022 Constructors’ Championship".

Williams opting to trust the process

However, the significant investment in modernizing the team's facilities, a top priority for Vowles, also played a major role in the financial outcome.

The team acknowledged that while the losses have increased, they are in line with expectations.

"This is part of the company’s strategy to continue investing in all areas of the business to drive both on-track and commercial performance in pursuit of medium and long-term success," the statement continued.

Acquired by Dorilton Capital in 2020, Williams remains focused on future growth. The team is expected to benefit from increased prize money by 2025, following its current standing in the 2024 Constructors' Championship.

Retaining its current eighth place in the standings this season would secure further financial recovery heading into 2026, signaling hope for a more stable financial future.

Williams’ significant investment and forward-looking strategy highlight the ongoing challenges faced by even the most storied F1 teams in a fiercely competitive sport, but the team is banking on a long-term turnaround to restore its former glory.

READ MORE: McLaren chief RESIGNS in shock move

Related

Williams

Williams sign US star to exciting deal

• October 20, 2024 19:00

Azerbaijan Grand Prix

F1 team FINED by FIA after very strange Azerbaijan GP incident

• September 15, 2024 18:00