Apr 29, 2013, 12:04 PM EST
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.
Dec 17, 2014, 8:47 PM EST
NASCAR revealed the 2015 schedules for the Whelen Modified Tour and its Southwest Modified Tour, including a first-time visit at the legendary Hickory (NC) Motor Speedway.
Dec 17, 2014, 7:23 PM EST
Do you like watching old racing videos and programs from the past? If so, you’re going to love this BBC video about NHRA drag racing from back in 1990.
Dec 17, 2014, 6:38 PM EST
Kurt Busch got the chance to tell his side in the legal battle with former girlfriend Patricia Driscoll. We break down what Kurt said in court on NASCAR America.
Dec 17, 2014, 5:16 PM EST
Kurt Busch testified Wednesday he asked former girlfriend Patricia Driscoll numerous times to leave his motorcoach on the night she claims the NASCAR driver struck her head several times.
Dec 17, 2014, 3:03 PM EST
The race to the finish line of Phase 1 of Daytona Rising at Daytona International Speedway kicked into high gear Wednesday, with a record 1,002 construction workers on-site.
Dec 17, 2014, 3:00 PM EST
Porsche Mobil 1 Supercup’s status grew in 2014. We caught up with the series manager during Austin F1 weekend.
Dec 17, 2014, 2:00 PM EST
Ferrari mass exodus continues.
Dec 17, 2014, 1:30 PM EST
At least two IndyCar stars will join the Rolex 24 lineup, but teams are TBD.
Dec 17, 2014, 1:23 PM EST
Ben Kennedy, the great-grandson of NASCAR founder Bill France Sr. and 2014 Camping World Truck Series Rookie of the Year, will race for Red Horse Racing in 2015, the team announced Wednesday.
Dec 17, 2014, 12:46 PM EST
As we continue our series on the top 30 drivers of the 2014 NASCAR Sprint Cup Series, next up is series veteran Greg Biffle.
Dec 17, 2014, 12:10 PM EST
James Hinchcliffe tests Tuesday at Sebring with Schmidt Peterson.
Dec 17, 2014, 12:00 PM EST
Crafton made history in the NASCAR Camping World Truck Series this year as its first back-to-back champion.
Dec 17, 2014, 11:00 AM EST
Allmendinger propelled his single-car team into the Chase with a win at Watkins Glen.
Dec 17, 2014, 10:32 AM EST
We’ve all been there, Jimmie. We’ve all been there.
Dec 17, 2014, 9:00 AM EST
No drivers, but DCR’s shock/damper program should be good in 2015.
Dec 16, 2014, 8:04 PM EST
It’s not an ideal situation for NASCAR, but as the NASCAR AMERICA gang explained today, it’s not a hopeless one either.
Dec 16, 2014, 7:14 PM EST
Patricia Driscoll broke down on the stand during the hearing in Dover, Delaware.
Dec 16, 2014, 5:30 PM EST
A two-day website auction on the assets of the former F1 outfit began today.
Dec 16, 2014, 4:44 PM EST
Scott Hargrove to test for 8Star’s Indy Lights team.
Dec 16, 2014, 4:30 PM EST
Coming up: What will Sprint’s departure in 2016 mean for NASCAR’s future?; Steve Letarte revisits his final race as a crew chief; more on the health of Brian Vickers; the inspiring story of the NHRA’s Jay Blake.
Video from NASCAR America
- Kurt Busch calls ex-girlfriend’s allegations a ‘fabrication’ 6
- Fry, Tombazis out as part of Ferrari’s ongoing restructuring 1
- Sprint to end title sponsorship of NASCAR’s Cup Series after 2016 (VIDEO) 17
- NBC SportsWorld: The vision of blind NHRA crew chief Jay Blake 1
- Rutledge Wood joins NBC Sports Group’s NASCAR and motors coverage 6
- NASCAR expands Sprint Unlimited field to include Chase drivers 3
- Health issues to sideline Brian Vickers for early part of 2015 Sprint Cup season 5