16/10/2006
NEWS STORY
Although WilliamsF1 might be experiencing one of its most disappointing seasons, results-wise, in its 30+ year history, 2005 was hugely successful in terms of income, with the Grove outfit recording one of the biggest profits ever for a Formula One Team, according to Christian Sylt and Caroline Reid .
Although the Grove outfit only finished fifth in the 2005 Constructors' Championship, compared to fourth in 2004, thanks to a number of 'severance' payments, including BMW and Jenson Button, the last of the privateers added around £35m to the kitty, even though its main turnover for the year, including sponsorship and prize money, was down by £5m (on 2004).
BMW, which had a contract to provide engines for the British team until 2009, opted to go it alone, purchasing Peter Sauber's F1 team, while Jenson Button is thought to have paid out around £17m in compensation to terminate his contract with the team, and thereby remain with Honda.
This season, the Cosworth powered team looks likely to finish eight in the championship, its worst season since finishing seventh in 1988, before switching to Toyota powerplants in 2007.