Williams joins calls for fairer share of F1 pot

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“We have to bide our time,” deputy team principal Claire Williams told reporters on Monday after the former world champion published 2015 results showing significant improvement in revenues.

“I imagine we will all start negotiating new terms well ahead of 2020 and I hope that a revision and a re-distribution is something that's tabled as part of those discussions.”

Formula One teams have individual deals with the commercial rights holder CVC, represented by Bernie Ecclestone, which replaced the confidential 'Concorde Agreement' that previously governed the way the sport is run and revenues shared out.

Struggling smaller F1 teams such as Sauber and Force India have long argued that the distribution is skewed in favour of leading manufacturers, who receive special payments regardless of how they perform on the track.

Ferrari in line for bumper F1 payout

Ferrari, the only team to have been in the championship since 1950 and the most successful, is in line for a $70 million (R1 billion) special payment in 2016.

That, combined with revenues dictated by performance and a championship bonus, means Ferrari will be paid a total of $192 million (R2.8 billion) .

That is $20 million (R295 million) more than champion Mercedes and compares to $87 million (R1.3 billion) coming to Williams for finishing third in the past two seasons - beating Ferrari in 2014 and Red Bull in 2015.

Asked about the figures, Williams said all the teams had signed up to the current terms but hoped the landscape would change.

“I very much hope so because I’m a firm believer that sports should have equitable platforms to be successful,” she said. “I wouldn't have an issue if Ferrari got a heritage payment, but not as big as it is.”

Williams Grand Prix Holdings, which includes the F1 team, reported revenue of £125.6 million (R2.6 billion) in 2015 compared to £90.2 million (R1.9 billion) in 2014, cutting its operating loss from £37 million (R775 million) to £3.3 million (R69 million).

The increase in revenue was due mainly to increased commercial rights and sponsorship income after a successful 2014 season. Income from the commercial rights holder is paid a year in arrears.

Reuters


Original source: Williams joins calls for fairer share of F1 pot

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