News Details

Maldonado paid Williams $25 million to end contract

Pastor Maldonado A $25 million contract termination payment from Pastor Maldonado's sponsor PDVSA 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...
Full Story »
3y ago from GrandPrix247.com 0
Share

You May Also Be Interested In...

Maldonado paid $25m to leave Williams

A $25 million termination payment from Pastor Maldonado's sponsor helped...
3y ago from GrandPrix.com

Williams drives back into the black

Formula One team Williams returned to profit last year, despite a poor...
3y ago from SuperSport.com

Investigator questions Ecclestone's blackmail claims

A German investigator cast doubt on the credibility of Bernie...
3y ago from F1Pulse.com

Williams increases income by 25%

Williams Grand Prix Holdings PLC (WGPH) has announced its financial...
3y ago from Crash.net

Elsewhere On The Network

Popular On MGPToday.com

WorldSBK and BSB now available on Amazon, MotoGP next?

Amazon will now broadcast Eurosport and ITV content, and is in the running...
1d ago from BikeSportNews.com

‘Nicky will be missed by all of us’ - Wayne...

Rainey says Nicky Hayden will be remembered for his work ethic, his...
2d ago from BikeSportNews.com

MotoGP Le Mans: Last-lap crash a mystery for Rossi

Rossi is mystified by the last-lap crash which saw him lose at least 20...
4d ago from BikeSportNews.com

Hayden in critical condition after collision with car...

Ex MotoGP world champion and current Honda World Superbike factory rider...
1w ago from MotoGPFanatic.com

Popular On IndyCarToday.com

Doctors outline Bourdais’ recovery timeline

One day after being released from the hospital to begin rehabilitation...
3h ago from Racer.com

Frye on third IndyCar manufacturer interest

IndyCar CEO Mark Miles and competition president Jay Frye continue to...
4h ago from Racer.com

Popular On TotalWRC.com

Paddon: Portugal brought the fun back

Kiwi takes positives from disappointing result
5h ago from WRC.com

Stomach bug floors Latvala

Finn twice visited hospital with severe stomach upset
8h ago from WRC.com

Carlos Sainz drives Rally Portugal's Fafe stage with...

Two-time World Rally Champion Spaniard back at the wheel of a rally car on...

2017 Vodafone Rally de Portugal – Analysis:...

Sebastian Ogier used all his skill and guile to take an intelligent win in...

Popular On GunnersToday.com

Chelsea FA Cup final injury news: Nemanja Matic to...

Chelsea to start Nemanja Matic in FA Cup final with Cesc Fabregas on the...
3h ago from DailyMail.co.uk

Arsenal prepare surprise move to complete Hazard...

Arsenal are reportedly among the contenders to sign Borussia...
3h ago from ArsenalFever.com

DAVID WOODS COLUMN: Prem needs play-offs, irritating...

GETTY Manchester United won the Europa League and qualified for the...
4h ago from DailyStar.co.uk

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.