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12th October 2007

According to a report in the UK’s Daily Telegraph newspaper the Grove, UK based WilliamsF1 Formula One team made a substantial loss of $57 million in 2006.

WilliamsF1’s loss was attributed in large part to the ending of its agreement with BMW under which it had received free engines and the ending of its title sponsorship contract with Hewlett Packard at the end of 2005.

In 2006 Williams raced with customer Cosworth engines for which the team had to pay around $20m before signing a deal for Toyota engines starting in 2007.

The paper also points out that in 2005 WilliamsF1 had made a $60 million profit.

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