General
ROKiT still has to pay £10 million to Williams
- GPblog.com
Friday it was announced that the collaboration between Williams and title sponsor ROKiT has ended immediately. We wrote about it that it is striking that Williams was the party that tore up the contract, but now it is clear what the motives of the British race stable have been. After all, ROKiT did not comply with its counter conditions.
For the 2019 season, ROKiT still has to transfer some £10 million to Williams. There are also arrears for 2020. It is not yet clear exactly how much money this will involve.
ROKiT does not say a word about debt
ROKiT itself stated in a statement that it would like to remain active as a sponsor in motor sport, but this revelation via the official website of the Formula 1 may well make teams less likely to join forces with the telecommunications company. ROKiT itself has not reported anything at all about payments that still need to be made.
Halfway through the summer of last year, the contract between Williams and ROKiT was extended until 2023, but after that, the relationship quickly clouded.