F1 » F1's best and worst bill-payers revealed

An independent report has cast some light upon the speed with which F1 teams settled their financial debts in 2010 - and despite an estimated £1.3 billion budget between them, it seems some weren't very speedy at all...

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January 10, 2011 12:56 PM

It does matter. Because these 17 days mean they paid 17 days after the payment deadline, not the date of delivery. If their payment deadline is, as it happens with most companies, 60 or 90 days, 17 days is a lot.

Besides, try telling that to the workers who have to wait around for 17 days with no money. They have families, you know...

SPF1 - Unregistered

January 10, 2011 1:08 PM

Simplest way to deal with slow payers is to insist on cash up front. Not honouring payment terms is a breach of trust. Treat them accordingly until "trust" is restored

Robbo - Unregistered

January 10, 2011 1:24 PM

Paying on time says to your suppliers and contractors that you are professional and you value their contribution. People who pay on time get better service in the end because they become a preferred customer of the service supplier. Pay your builder as soon as he presents his progress payment and he will prioritise your job over the slow payers. Same with contractors and service suppliers generally. Red Bull's success is in part a reflection of the professional attitude and respect the organisation shows to the people they employ, contract and engage.

brendan - Unregistered

January 10, 2011 2:12 PM

you could say its easy to pay on time when your spending beyond the budget rules...

but anyway it hardly seems that interesting.

id rather see their actual budgets. remember they did that a few years when renault won in 05/06 they had the 5th biggest budget.

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