News Details

Maldonado paid $25m to leave Williams

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...
Full Story »
11y ago from GrandPrix.com 0
Share

You May Also Be Interested In...

Williams drives back into the black

Formula One team Williams returned to profit last year, despite a poor...
11y ago from SuperSport.com

Interview with Lotus' Pastor Maldonado

– Lotus driver Pastor Maldonado looks ahead to the Spanish Grand...
11y ago from GPUpdate.net

Maldonado targeting top five in Spain

Pastor Maldonado believes he can score a top five finish for Lotus in the...
11y ago from Crash.net

Maldonado: Top five possible in Barcelona

– Pastor Maldonado believes he will be able to get a top-five...
11y ago from GPUpdate.net

Elsewhere On The Network

Popular On MGPToday.com

Popular On IndyCarToday.com

Colton Herta leaves IndyCar to pursue F1 with Cadillac...

The Cadillac F1 Team has announced that it has hired IndyCar star Colton...

Rinus VeeKay separates from Dale Coyne Racing

Rinus VeeKay will not race with Dale Coyne Racing next season after...

Popular On TotalWRC.com

Popular On GunnersToday.com

'He is a player who lights up the stadium' -...

Arsenal legend Nigel Winterburn has hailed the Gunners' new signing...
7h ago from SportsKeeda.com

New signing profile: Piero Hincapie

Following some late left-sided departures, Arsenal managed to squeeze in...
8h ago from Arseblog.com

'It’s remarkable' – Collymore reacts to Mikel...

Arsenal had started their season with two victories out of two, but last...
15h ago from CaughtOffside.com

Collymore's column: Mikel Arteta criticism, Isak and...

In his exclusive column for CaughtOffside, former Liverpool striker Stan...
16h ago from CaughtOffside.com

Comments

Hottest News

Recent News


2014 GPToday.com
GPToday.com is not responsible for the news headlines and associated descriptions and images it indexes, the content of externally linked sites or the comments & postings of its users.

This website is unofficial and is not associated in any way with the Formula One group of companies. F1, FORMULA ONE, FORMULA 1, FIA FORMULA ONE WORLD CHAMPIONSHIP, GRAND PRIX and related marks are trade marks of Formula One Licensing B.V.