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$25m loss-making McLaren compensates Whitmarsh, Mercedes
$25m loss-making McLaren compensates Whitmarsh, Mercedes A $15 million pay-out to former boss Martin Whitmarsh contributed to the financial loss recorded by McLaren last year. Writing for Forbes, F1 business journalist Christian Sylt said the latest financial statements for 2014 showed McLaren paid 'compensation for (the) loss of office of a director', which surely must be Whitmarsh. Overall, McLaren turned a $19 million net profit for 2013 into an almost $25 million loss in 2014, with Sylt saying it is mainly due to the British team's performance dip. But another major cost was a $54 million fee paid to Daimler, after the Woking outfit switching from customer Mercedes power to works Honda...
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8y ago from ThisIsF1.com
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