British Formula One team Williams insisted on Monday they were still "on track" despite announcing a £42.5 million loss for 2014. Team chiefs blamed the deficit on the ongoing "hangover" from some poor results, notably in 2013 when Williams finished ninth in the Constructors' Championship -- their worst placing in history. This led to reduced prize money and sponsorship after Williams -- who improved to third last year -- made a £11.9 million profit in 2013. "While 2014 at first glance was disappointing, it really was what we anticipated. We're on track," chief executive Mike O'Driscoll told the BBC. "What we are reporting today is essentially a...
Full Story »