News Details
McLaren pay $15 million compensation to Whitmarsh
A $15 million pay-out to former team principal 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. Whitmarsh joined McLaren as Head of Operations in 1989. In 1997, Whitmarsh was promoted to Managing Director, where he was responsible for managing the F1 operation and its partners and...
Full Story »
Full Story »
9y ago from GrandPrix247.com
0
You May Also Be Interested In...
$25m loss-making McLaren compensates Whitmarsh,...
$25m loss-making McLaren compensates Whitmarsh, Mercedes A $15 million...
9y ago from ThisIsF1.com
McLaren focusing for 2016 F1 rebound as it posts $25M...
McLaren focusing for 2016 F1 rebound as it posts $25M Loss McLaren...
9y ago from ThisIsF1.com
McLaren reports big loss for 2014
XPB Images
The McLaren Technology Group just filed its...
9y ago from F1i.com
F1 drivers sympathise with plight of Alonso
Two Formula 1 drivers, past and present, have sympathised with the...
9y ago from GrandPrix247.com
Elsewhere On The Network
Popular On MGPToday.com
MotoGP bans 2027-spec bike tests until conclusion of...
No description available...
20h ago from Motorsport.com
Marc Marquez cruises to MotoGP Sprint victory at Jerez
Ducati’s Marc Marquez cantered to a record-equalling fifth consecutive...
1d ago from MotorsportWeek.c...
Pedro Acosta still ‘focused' on KTM amid Honda...
Pedro Acosta's manager Albert Valera has provided an update regarding his...
1d ago from MotorsportWeek.c...
MotoGP teams agree on new rule for riders returning...
No description available...
2d ago from Motorsport.com
Popular On IndyCarToday.com
Robert Shwartzman still working to understand ‘very...
Robert Shwartzman is one of rookie three drivers racing in IndyCar this...
36m ago from MotorsportWeek.c...
Arrow McLaren extends partnership with RJ Reynolds
Arrow McLaren announced on Tuesday that it has extended its Primary...
16h ago from MotorsportWeek.c...
Scott McLaughlin on Alex Palou's supreme form:...
No description available...
1d ago from Motorsport.com
The game-changing decision that put Christian...
No description available...
1d ago from Motorsport.com
Popular On TotalWRC.com
Exclusive: Carlos Sainz Sr considering run for FIA...
No description available...
1h ago from Motorsport.com
WRC fan experience to be improved via service park...
No description available...
2h ago from Motorsport.com
Rally Portugal set to feature record-equaling WRC...
No description available...
6d ago from Motorsport.com
Toyota Gazoo Racing's silver lining
Toyota Gazoo Racing has a silver lining, literally. Not content with a...
1w ago from MotorsportWeek.c...
Popular On GunnersToday.com
Arsenal make offer for 'fantastic player' wanted by...
Arsenal manager Mikel Arteta has made it his priority to sign a new...
1h ago from CaughtOffside.com
“They will get smoked” - Manchester United legend...
Football pundit Rio Ferdinand has warned Mikel Arteta’s Arsenal ahead of...
1h ago from SportsKeeda.com
'We need to have big b***s' - Declan Rice sends...
Declan Rice believes Arsenal need to turn up at Paris Saint-Germain (PSG)...
1h ago from SportsKeeda.com
Arsenal, Manchester United and Chelsea locked in...
Arsenal, Manchester United, and Chelsea are reportedly going to battle it...
1h ago from SportsKeeda.com
Comments
Hottest News
F1 Today: Lewis Hamilton heading for Ferrari crisis as team...
Lewis Hamilton’s dream F1 marriage with Ferrari... Read More »
8h ago from GPFans.com
FIA makes clear McLaren decision after major inspection -...
McLaren's rivals raised concerns over how it was... Read More »
4h ago from RacingNews365.com
Pierre Gasly hails Flavio Briatore impact amid Alpine...
Pierre Gasly insisted Flavio Briatore is willing... Read More »
56m ago from MotorsportWeek.com
