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 »
9mo 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...
9mo ago from SuperSport.com

Interview with Lotus' Pastor Maldonado

– Lotus driver Pastor Maldonado looks ahead to the Spanish Grand...
9mo ago from GPUpdate.net

Maldonado targeting top five in Spain

Pastor Maldonado believes he can score a top five finish for Lotus in the...
9mo ago from Crash.net

Maldonado: Top five possible in Barcelona

– Pastor Maldonado believes he will be able to get a top-five...
9mo ago from GPUpdate.net

Elsewhere On The Network

Popular On MotoGPToday.com

VIDEO: Iannone - The Ducati is fantastic!

Andrea Iannone has high hopes for the 2015 MotoGP World Championship...
7h ago from Crash.net

Sepang Michelin test ends in fast crashes for front...

The first test of next season’s new MotoGP control Michelin tyres has...

Lorenzo fall offers peak inside Yamaha M1

Jorge Lorenzo's fast accident at Thursday's Michelin MotoGP test resulted...
1d ago from Crash.net

Crutchlow Ends Second Sepang Test On A High

Cal Crutchlow finished the second Sepang pre-season test in fine fashion...
23h ago from TheCheckeredFlag...

Popular On TotalWRC.com

Neuville relishes Rally Mexico return

Thierry Neuville is targeting a podium finish for the third year in a row...
1h ago from Crash.net

Mexico countdown: rally route

The WRC returns to hot gravel roads for the first time since the opening...
2h ago from WRC.com

Hyundai to introduce engine upgrade in Mexico

Mexico poses a unique challenge to WRC teams with altitudes reaching up...
1h ago from WRC.com

Sordo cleared for Rally Mexico after injury

Dani Sordo has been given the green light to return to the World Rally...
5h ago from Motorsport.com

Popular On GunnersToday.com

Abou Diaby could sign new Arsenal contract

GETTY Abou Diaby is out of contract at the end of the season The...
4h ago from Express.co.uk

Arsenal vs Everton: Team news, kick-off time, probable...

Arsenal vs Everton: Team news, kick-off time, probable line-ups, odds and...
4h ago from DailyMail.co.uk

Arsenal star Jack Wilshere undergoes surgery as Aaron...

GETTY Jack Wilshere is set to have surgery on his ankle The England...
4h ago from Express.co.uk

[Image] Surprising stats attest to Arsenal ace Mesut...

German playmaker Mesut Özil comes in for a lot of criticism regarding...
6h ago from AllArsenal.com

Comments

comments powered by Disqus

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.