GPWizard F1 Forum
F1 News & Discussions => F1 Teams => Topic started by: Scott on May 01, 2015, 07:28:38 PM
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I've had some doozy hangovers before, but nothing like that :crazy: :crazy:
Considering their accounting explanations and their finishing places last year and what will likely be 3rd place this year, I wouldn't worry too much about that kind of year end report.
http://www.bbc.com/sport/0/formula1/32483800
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They may be bigging up the hangover aspect but it's still one heck of a lot of money to lose in one year. when you consider the income/turnover was just £71.2million for the year. Losing £42.5mil means they spent £1.60 for every £1 they had coming in, :swoon: not many can run up debts like that and carry on. :confused:
Despite their claim that everything is now tickety-boo just who has financed this incredibly huge overhang, or is there a whopping big interest charge coming on next year's figures & ad infinitum? :DntKnw:
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But in 2013 they were no where in the standings, so their income from FOM was way below expectations. Add to that the whopping payout from Maldo's sponsors (I read it was somewhere around $20m) that they had on the books as an A/R but weren't paid until 2014. I don't think it is as dire as it sounds, and not really like they spent 1.6x their income.