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.
Apr 28, 2015, 1:09 PM EDT
Barber in the books for IndyCar, and it was a good one.
Apr 28, 2015, 11:50 AM EDT
A bucketload of stats coming out of Barber, the fourth race of the Verizon IndyCar Series’ season.
Apr 28, 2015, 10:21 AM EDT
Cape Motorsports with Wayne Taylor Racing has a big weekend in Barber in USF2000 and Pro Mazda.
Apr 28, 2015, 9:32 AM EDT
Honda closing on re-up for IndyCar beyond 2015, per an Indianapolis Star report.
Apr 27, 2015, 1:44 PM EDT
Honda set to take the wraps off its superspeedway oval challenger this Thursday at the Indianapolis Motor Speedway.
Apr 27, 2015, 1:37 PM EDT
NBCSN’s Townsend Bell looks back at the instant classic that was Barber, for MotorSportsTalk.
Apr 27, 2015, 11:20 AM EDT
Munoz, Andretti end sixth and 10th, adding to RHR’s fifth place, to give Andretti Autosport a triple top-10 at Barber.
Apr 27, 2015, 10:43 AM EDT
Williams has a down financial year in 2014 but should be much better off in 2015.
Apr 27, 2015, 10:12 AM EDT
Power ends P4 at Barber despite drive-through penalty early in the race.
Apr 26, 2015, 10:00 PM EDT
Watch the pair of Indy Lights races from Barber at midnight ET.
Apr 26, 2015, 8:49 PM EDT
It was Ron Capps’ Day in Baytown, Texas.
Apr 26, 2015, 8:24 PM EDT
Newgarden rolls out the thank you mat after scoring his elusive first IndyCar victory.
Apr 26, 2015, 8:08 PM EDT
Ryan Hunter-Reay not satisfied with first top-five finish of 2015.
Apr 26, 2015, 7:42 PM EDT
Penske pair still 1-2 after tough afternoon in Barber.
Apr 26, 2015, 7:10 PM EDT
Graham Rahal comes up short in best performance in a year.
Apr 26, 2015, 5:37 PM EDT
Newgarden scores first career win at Barber.
Apr 26, 2015, 4:43 PM EDT
We’re halfway at Barber, with Graham Rahal the leader at Lap 45 and pit stops underway.
Apr 26, 2015, 2:30 PM EDT
Meeke becomes the first British driver to win in the WRC in 13 years.
Apr 26, 2015, 2:29 PM EDT
Results from the Indy Lights’ series second race at Barber Motorsports Park.
- DiZinno: Barber, IndyCar’s southern gem, delivers an instant classic 0
- Ten with Townsend: Long Beach and Barber debrief 1
- NHRA: Capps storms to 2nd win of season, Funny Car points lead 1
- Relief, gratitude define the day where Newgarden finally gets first win (VIDEO) 1
- Graham Rahal can’t close deal in runner-up finish at Barber 2
- Josef Newgarden scores his first IndyCar win at Barber 15
- WATCH LIVE: Honda Indy Grand Prix of Alabama at 3 p.m. ET on NBCSN, Live Extra 1