Williams announces eye-watering loss and explain why it was expected
F1 News
- Ludo van Denderen
Williams has announced an £84million loss from 2023. The team made huge strides with James Vowles at the helm, lifting themselves up to seventh in the Constructors' World Championship. It was their best result since 2017, but off track there was a huge financial loss.
The Group of companies' account filed earlier this week shows the £84 million loss from the calendar year. Revenue fell, and profits rose. However, this was offset by Williams' huge investment in its facilities to catch up with rivals in the F1 championship. As a result, this loss was not unexpected by Williams themselves.
Williams posted a loss of £84.2 million in 2023, which is a big increase on the previous year. Then the loss was £17.9 million. Revenue fell slightly in 2023, from £142.8m to £127m. That dip in money came due to their position in the 2022 World Championship. They finished last and therefore earned the least amount of prize money.
Williams has plenty of cash in hand
Incidentally, there is no need to worry about Williams for now. The team has equity of £67.3 million and thus - according to the team - "a solid financial base" to return to the front of the F1 grid. Alex Albon and Carlos Sainz will be driving for the team during the 2025 Formula 1 season.
This article has been created in collaboration with Matt Gretton