F1-Fansite.com

F1 News

Maldonado paid $25m to leave Williams F1

Pastor Maldonado
Pastor Maldonado
Felipe Massa, Williams FW36 Mercedes

Felipe Massa, Williams FW36 Mercedes

A $25 million termination payment from Pastor Maldonado's sponsor helped Williams to drive back into profit.

The publicly-listed British team released its 2013 financial results on Friday, showing a $20m operating profit despite a poor season on track.

The Telegraph newspaper said the result was helped by a one-off termination payment made by the Venezuelan oil company PDVSA, who wanted to move their backing of driver Maldonado to the Lotus team for 2014.

The report said the payment "is believed to be in the region of $25m", in the wake of a more than $8 million loss recorded by Williams just a year ago.

"We made good progress commercially through the winter months and Williams continues to attract an enthusiastic and very loyal group of partners and fans," team boss Sir Frank Williams said in Friday's statement.

"These annual results demonstrate that we continue to manage our business in a fiscally responsible way and provide the foundation from which we can continue to grow.

"We have started the 2014 formula one season well and hope we can continue to improve our performance," he added.

Book discounted tickets and reservate your hotel room in our F1 Tickets Shop.

Please share this article & subscribe to our FREE weekly F1 Newsletter

PinIt

Latest F1 News posts:

See older posts in our F1 Archive »

Stay Updated by F1-Fansite!

Subscribers can win a 2017 Photo Calendar!.
Buy F1 MerchandiseBuy F1 Merchandise of your favourite driver or team.

Early Booking Discounts on F1 Tickets

Buy F1 tickets cheaper at F1-Fansite.com 2017 Formula 1 Season Early Booking Discounts are:
F1 Grand Prix
Discount

Book F1 Tickets Australian F1 GP Australia '1735% discountBook Now
Book F1 Tickets Chinese F1 GP China '1710% discountBook Now
Book F1 Tickets Spanish F1 GP Spain '1720% discountBook Now
Book F1 Tickets Monaco F1 GP Monaco '17AvailableBook Now
Book F1 Tickets Canadian F1 GP Canada '17AvailableBook Now
Book F1 Tickets Austrian F1 GP Austria '1720% discountBook Now
Book F1 Tickets British F1 GP UK '17AvailableBook Now
Book F1 Tickets Hungarian F1 GP Hungary '1720% discountBook Now
Book F1 Tickets Belgian F1 GP Belgium '1711% discountBook Now
Book F1 Tickets Belgian F1 GP Singapore '1710% discountBook Now

Polls

Who would you choose for Rosberg's seat?

View Results

Loading ... Loading ...
F1 Polls