Last year, Williams’ turnover growth was more than £45 million, according to financial statements submitted to Companies House this week. The total income amount recorded by the team as of December 31, 2022 is 142.8 million pounds.
Williams finished in 10th and last place in the constructors’ championship last season and is therefore only entitled to 6% of the prize money, which is shared between the Formula 1 teams and their owners, the American company Liberty Media. By 2022, this fund exceeded $900 million.
While exact statistics regarding this fund and how the prize money is distributed among the ten teams are strictly confidential, experts estimate that Williams is owed around $75 million for last year. Since the championship participants’ budgets in 2022 were limited to $140 million, this amount covers more than half of the team’s operating costs.
“The 2022 season for Formula 1 was successful, the calendar consisted of 22 races, with a high attendance, and after the pandemic there was a return to well-known circuits,” the team said in a statement accompanying the financial report. “The increase in the number of stages, combined with the growing popularity of our sport in many countries, has led to an increase in revenue for commercial rights holders.
Our company has also benefited from market growth, increasing fan engagement and accelerating the development of our brand. Williams continued to invest to achieve improvements in all areas, both on and off the track…”
Williams’ economy is controlled by US investment fund Dorilton Capital, which acquired the team’s assets from the Williams family in 2020 for $200 million. Experts currently estimate this at $800 million.
Since this year, the team from Grove has improved significantly and now occupies 7th place in the Constructors’ Championship, at the end of the season it will receive a much larger amount of prize money, therefore development continues, which of course will benefit both Williams fans and its investors.
Source: F1 News
I am Christopher Clyde, an experienced journalist and content writer with a passion for sports. I have been writing about Formula 1 news for the past five years and am currently employed as an author at athletistic.com, one of the top sports websites in the US.
