The Williams Formula One team had a relatively successful year last year, finishing third in the 2014 Formula One team championship but – despite the success – the team still reported a loss of $64 million from 2014. That happened primarily because Williams had to rid themselves of driver Pastor Maldonado from the previous year and pay off departing sponsor PDVSA – the state-owned Venezuelan petroleum company manipulated by Venezuelan’s nutball leader, Hugo Chavez – to the tune of $30.5 million. That, combined with a doubling of engine costs along with bonuses issued to all Williams employees for their third-place finish made up for the majority of the deficit.
For 2015, now that Maldonado is Lotus’ problem, the outlook is much brighter for Williams, which expects to either post a much-smaller loss or even a tiny profit.
The 2015 Formula One season continues with the Spanish Grand Prix in Barcelona at 5 a.m. [PDT] on NBCSN on May 10, 2015.
