P1racenews AI automatic summary:
F1 has bagged another extraordinary deal, whilst Red Bull’s and Williams’ financials are also revealed
F1 has secured a new 10-year, €1 billion sponsor deal with LVMH, which includes brands like TAG Heuer and Louis Vuitton. Red Bull Racing experienced a significant drop in profits for the 2023 F1 season despite strong performance on the track. Toto Wolff clarified his decision to elevate Kimi Antonelli directly to an F1 race seat at Mercedes. Daniel Ricciardo was replaced by RB with Liam Lawson in F1, while he explores potential opportunities in motorsport. FIA president Mohammed Ben Sulayem criticized the British media for what he perceives as prejudiced treatment towards him. Williams reported a substantial loss of £84 million in 2023, but the F1 team remains confident and sees no reason for concern.
