P1racenews AI automatic summary:
Williams has recorded a financial loss of £84 million after the 2023 Formula 1 World Championship, in which the team finished seventh in the Constructors’ standings. The Wantage-based squad ended the year on 28 points, with 27 scored by Alex Albon and one by Logan Sargeant. The company accounts of Williams Grand Prix Engineering reveal […]
The Wantage-based squad finished the year with 28 points, with 27 contributed by Alex Albon and one by Logan Sargeant. Williams Grand Prix Engineering posted a loss of £84.2 million for the 2023 financial year, up from £17.9 million in 2022. Revenue dropped from £142.8 million to £127 million due to lower commercial rights revenue from finishing 10th in the 2022 constructors’ championship. Despite increased losses, Williams’ strategy focuses on investing in all areas of the business for long-term success and performance improvement. Owned by Dorilton Capital since 2020, Williams looks to return to the front of the grid through continued investment in technology and people. Currently eighth in the championship with 16 points, Williams sees Albon and Colapinto leading their lineup after Sargeant’s replacement.
