(© Ben Johnston 2015)
The Williams Martini Racing Team have announced losses of £42.5 million last year. The Grove based outfit ended the 2014 Formula One season in third place in Constructors championship and saw the arrival of major commercial partners in Marti, Rexona and Hackett to name but a few.
Despite their losses the company is in a great place for this season due to increased revenues from sponsorship and the money that they will receive from Formula One commercial rights holder Bernie Ecclestone for finishing the season in third place.
The company expected to make a loss as they increased their investment in Formula One to enable them to be more competitive in 2014.
The Grove based outfit’s other businesses such as Williams Advanced Engineering which was set up in 2013 and they also have a new Hybrid business. The team improved their position in 2014 moving up the Constructors championship order from ninth place in 2013 to third place in 2014. The team also have a new power unit supplier in Mercedes who joined the team last year.
© Ben Johnston 2015