Williams budget "healthy" despite F1 prize money drop
Williams insists it has put in place a "healthy racing budget" for 2020, despite a drop in prize money earnings and lapse of some sponsorship deals
The Grove-based outfit is coming off the back of an incredibly disappointing 2019 campaign where its car was the slowest in the field.
The team ended up last in the constructors' championship as a result with just a solitary point.
The drop down the order has meant a fall in commercial rights income for the year ahead, and its financial matters have not been helped by some of its sponsorship deals coming to an end.
Unilever switched to McLaren and Polish oil company PKN Orlen departed along with Robert Kubica.
But with Williams having signed a number of fresh sponsorship deals to lift its income, on top of the contribution of title sponsor Rokit, it has further boosted its F1 team's finances with the sale of a majority stake in business arm Williams Advanced Engineering.
Just before Christmas, Williams announced that it was selling a majority stake in WAE to an independent private equity firm controlled by EMK Capital.
Speaking in Israel at the announcement of a test driver deal with Roy Nissany, who comes with backing, Williams deputy team principal Claire Williams said: "Sponsorship is hard, it isn't easy.
"We all know that and I don't think any team is finding the sponsorship market in F1 very easy.
"Our business model actually relies heavily on sponsorship and it's never easy.
"It hasn't been for the past decades, but we still managed to find a healthy racing budget with which to do what we need to do over the course of the year.
- Williams gears up for 2020 Formula 1 season
- Williams signs Nissany as official test driver
- Williams outlines factors in Nissany test driver call
- Latifi picks Rosberg's number for debut F1 season
- Williams confident of avoiding repeat of '19 delays
"We have that going into this year. Obviously as you all know, we sold a majority stake in Advanced Engineering, the proceeds of which come into the F1 team, in order to bolster the budget as well.
"So I have no concerns over the racing budget for 2020."
Williams revealed that its new car has passed all its crash tests without major drama this year, which is in contrast to 12 months ago when its 2019 challenger hit trouble early on.
Be part of the Autosport community
Join the conversationShare Or Save This Story
F1 teams and Pirelli had no warning of “painted” Shanghai track surface
FIA still chasing answers over bizarre Shanghai F1 grass fires
Why F1 2026 worst case fears could be key to new rules success
The short-term pain that hides a very real Williams improvement
2024 F1 Chinese GP sprint qualifying results: Norris takes pole
Williams may as well “go home” if spares situation changes its F1 approach, says Albon
New Time Attack competition for 1990s F1 cars launched by AGS successor
Red Bull in no rush to finalise 2025 F1 line-up
Oliveira reckons MotoGP “looks too easy” on TV now
The short-term pain that hides a very real Williams improvement
The short-term pain that hides a very real Williams improvement
How a Shanghai to Sheffield journey paved the way for China’s F1 hero
Why F1 2026 worst case fears could be key to new rules success
How the F1 driver market situation sits for each team with 2025 openings
Subscribe and access Autosport.com with your ad-blocker.
From Formula 1 to MotoGP we report straight from the paddock because we love our sport, just like you. In order to keep delivering our expert journalism, our website uses advertising. Still, we want to give you the opportunity to enjoy an ad-free and tracker-free website and to continue using your adblocker.
Top Comments