Apr 29, 2013, 12:04 PM EDT
Williams posted a $7.8m loss last year despite scoring its first F1 victory since 2004. The Formula One team reported its annual results for 2012 on Monday.
Chief executive officer Alex Burns noted that $14.59m in income from Formula One “has not been included in these results because of the technical interpretation of today’s accounting standards”.
Founder and team principal Sir Frank Williams said: “2012 saw Williams make encouraging progress on and off the track and we are determined to continue that upward trend in 2013.”
“The win at the 2012 Spanish Grand Prix was a particular highlight and we continue to develop strong sponsorship partnerships and engineering relationships. At the end of the year the Williams F1 Team finished eighth in the FIA Formula One World Constructors’ Championship.”
“There is still a way to go for the team to get to where we should be, but improvements on previous seasons are evident.”
It’s been a period of mixed fortunes for Williams. Their win in Spain came after the surprise resignation of chairman Adam Parr. Over the remainder of the season they generally failed to deliver on the potential of the FW34.
The team has also lost chief operations engineer Mark Gillan since then and executive director Toto Wolff, who moved to Mercedes.
The loss of Sir Frank’s wife Virginia to cancer came on the eve of the new season. The team is yet to score a point in four races this year, but has a major upgrade planned for the next race at the scene of its 2012 triumph.
Mar 27, 2015, 9:05 AM EDT
Scott Speed, Loic Duval set for further Formula E starts in Long Beach.
Mar 27, 2015, 9:00 AM EDT
Team should qualify for Sunday’s Malaysian Grand Prix, thus completing its comeback.
Mar 27, 2015, 8:00 AM EDT
British driver planned to use a blue helmet to pay homage to Mercedes title sponsor Petronas in Malaysia.
Mar 27, 2015, 3:31 AM EDT
British driver responds to the pace shown by Mercedes teammate Nico Rosberg in FP1 by topping the second session on Friday.
Mar 27, 2015, 1:45 AM EDT
Catch all of the action from second practice live on NBCSN and Live Extra.
Mar 26, 2015, 11:31 PM EDT
Defending world champion forced to stop his car out on track early in practice, but Rosberg enjoys a more fruitful session.
Mar 26, 2015, 10:00 PM EDT
Malaysian GP FP1 about to launch.
Mar 26, 2015, 5:30 PM EDT
Finnish driver believes that the team has made a big step forward over the winter.
Mar 26, 2015, 4:00 PM EDT
A quick look through the runners in Indy Lights, Pro Mazda and USF2000 for 2015.
Mar 26, 2015, 4:00 PM EDT
Difficulties faced by a number of teams give Sauber an early chance to rack up some points.
Mar 26, 2015, 3:00 PM EDT
“I find it quite funny and interesting that the opinion is coming from individuals who have had so much success.”
Mar 26, 2015, 2:40 PM EDT
He’s finally the champion, but Will Power enters 2015 still with more to prove.
Mar 26, 2015, 2:00 PM EDT
NBCSN’s Will Buxton brings you the latest insight and interviews ahead of the Malaysian Grand Prix.
Mar 26, 2015, 1:00 PM EDT
Spaniard rejects claim that he thought he was in 1995 following his accident in pre-season.
Mar 26, 2015, 12:09 PM EDT
Two-time NHRA Funny Car champion Cruz Pedregon and NASCAR Sprint Cup driver Joey Logano spent an afternoon in each other’s respective worlds — and cars — on Wednesday.
Mar 26, 2015, 12:00 PM EDT
Luke Smith and Tony DiZinno give their verdict on this weekend’s Malaysian GP as Fernando returns, Manor hopes to fire up, and Red Bull prepares to declare war on Renault.
Mar 26, 2015, 11:00 AM EDT
Formula 1 heads to Malaysia for the second round of the 2015 season, but will Lewis Hamilton be able to double up and maintain his winning streak?
Mar 26, 2015, 10:00 AM EDT
Coyne heads into the season with two lesser experienced drivers, but looks to play spoiler.
Mar 26, 2015, 9:00 AM EDT
IndyCar has a wave of younger talent in the series, who need to start winning sooner rather than later.
Mar 26, 2015, 8:00 AM EDT
Both drivers failed to race in Australia due to injury, but will return this weekend.
- Hamilton hits back by topping second practice in Malaysia 0
- Rosberg quickest in Malaysia FP1 as Hamilton hits trouble 1
- Now IndyCar’s champion, Will Power’s mindset hasn’t changed heading into 2015 0
- Alonso moves to clear up testing crash conspiracy theories 2
- NHRA Funny Car driver Cruz Pedregon trades seats for a day with NASCAR counterpart Joey Logano 2
- Can IndyCar’s next generation take it to the established veterans? 1
- Fernando Alonso talks return in Malaysian GP 3