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Williams keen to negotiate redistribution of F1 income

"I imagine we will all start negotiating new terms well ahead of 2020 and I very much hope that a revision and a redistribution [of income] is something that's tabled."

The Williams team will join the likes of Force India and Sauber in attempting to negotiate a fairer distribution of F1 revenue even though a likely resolution is still four years away.

The Grove team, which has benefited from increased income after finishing third overall in the past two F1 seasons and posted improved business figures for 2015, says it shares the smaller teams' belief that too much of the sport's money is divided up between a few elite operations, as well as being held back for its commercial rights holder.

While Williams has improved its share courtesy of recent results, perennial midfielders like Force India and Sauber believe that the most successful teams garner a higher-than-necessary amount under current agreements with commercial rights holder CVC which itself retains 40 per cent of all F1 income. In addition, the minnows argue that 'special payments' to Ferrari - for its role in bringing an added lustre to F1 - further distort the distribution, leaving those at the other end of the scale in perpetual danger of going out of business.

Williams and McLaren are understood to also receive extra payments for their long-standing involvement in the sport and are not struggling as much as some of the smaller teams, who can expect to receive around a quarter of the total payment made to Ferrari each season. With engine fees having risen with the introduction of the current V6 Hybrids, much of that income can be passed straight on to suppliers, adding further weight to the complaint sent by Sauber - the fourth 'oldest' team currently in the top flight - and Force India to the European Competition directorate towards the end of the 2015 season.

"I wouldn't have an issue if Ferrari got a heritage payment, but not as great as it is," deputy team principal Claire Williams told Reuters after announcing the team's improved financial figures, "I imagine we will all start negotiating new terms well ahead of 2020 and I very much hope that a revision and a redistribution [of income] is something that's tabled as part of those discussions ... because I am a firm believer that sports should have equitable platforms to be successful."

Williams Grand Prix Holdings, the group under whose umbrella the F1 team sits, reported an increase in revenue from £90.2m in 2014 to £125.6m last year, while operating losses fell from £37m to £3.3m in the same period.


Tagged as: Williams , CVC , Claire Williams , income

Related Pictures

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19.03.2016 - Free Practice 3, Sergio Perez (MEX) Sahara Force India F1 VJM09, Daniel Ricciardo (AUS) Red Bull Racing RB12 and Kimi Raikkonen (FIN) Scuderia Ferrari SF16-H
Kimi Raikkonen (FIN) Ferrari SF16-H leads Valtteri Bottas (FIN) Williams FW38. 01.03.2016.
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mrfill

April 11, 2016 7:52 PM

Did she forget to mention the $35m a year Williams get as an 'historic payment' ? Mercedes - that historic F1 team with about a dozen years as a team - also get a historic payment of $35m. McLaren (53 years continuous involvement) get $0



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