Williams has reported a financial loss of £84 million following the 2023 Formula 1 World Championship, where they finished seventh in the Constructors’ standings.
The Wantage-based team ended the season with 28 points, with Alex Albon scoring 27 and Logan Sargeant contributing one.
The financial accounts of Williams Grand Prix Engineering show a loss of £84.2 million for 2023, a significant increase from the £17.9 million loss in 2022. Revenue also declined, dropping from £142.8 million to £127 million. The team explained: “While losses have increased compared to 2022, this aligns with expectations and reflects the company’s strategy of continued investment in all areas of the business to drive on-track and commercial performance for medium and long-term success.
“Revenue was lower in 2023 due to reduced commercial rights income associated with finishing 10th in the 2022 Constructors’ Championship.
“The notable improvement in on-track performance in 2023 results from ongoing investments in infrastructure, transformation, and personnel since 2020.
“The team’s long-term goal is to return to the front of the grid by continually investing in world-leading technology and talent.”
Williams, owned by Dorilton Capital since its acquisition from the Williams family in 2020, stated that their assets of £67.3 million demonstrate “a solid financial foundation to continue the team’s long-term strategy of returning to the front of the grid and achieving financial sustainability.”
Currently, Williams sits eighth in the 2024 Constructors’ Championship with 16 points, with Alex Albon leading alongside Franco Colapinto, who replaced Logan Sargeant after the Dutch Grand Prix.
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