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 »
10y 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...
10y 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...
10y ago from ThisIsF1.com
McLaren reports big loss for 2014
XPB Images
The McLaren Technology Group just filed its...
10y ago from F1i.com
F1 drivers sympathise with plight of Alonso
Two Formula 1 drivers, past and present, have sympathised with the...
10y ago from GrandPrix247.com
Elsewhere On The Network
Popular On MGPToday.com
Construction moving forward at Buenos Aires for...
No description available...
2h ago from Motorsport.com
Ducati playing “catch-up” to Aprilia but insists...
No description available...
7h ago from Motorsport.com
Massimo Rivola: Aprilia has become the ‘benchmark’...
Massimo Rivola has admitted that Aprilia has become the current reference...
8h ago from MotorsportWeek.c...
Why Gresini has flirted with leaving Ducati in MotoGP
No description available...
1d ago from Motorsport.com
Popular On IndyCarToday.com
Mick Schumacher: “I thought I was ready — but I...
No description available...
6d ago from Motorsport.com
Fast-paced schedule proving beneficial for IndyCar’s...
The NTT IndyCar Series recently completed its fourth racing weekend in...
4d ago from MotorsportWeek.c...
Winners and losers from IndyCar at Barber Motorsports...
No description available...
5d ago from Motorsport.com
Pato O’Ward left searching for answers after...
No description available...
6d ago from Motorsport.com
Popular On TotalWRC.com
Storm damage forces changes to WRC Rally Islas...
No description available...
2d ago from Motorsport.com
Kalle Rovanpera returns to WRC with Subaru
Double WRC Champion Kalle Rovanpera is set to return to the WRC next year...
4d ago from MotorsportWeek.c...
Former FIA vice president and WRC boss Morrie Chandler...
No description available...
6d ago from Motorsport.com
Subaru teases new rally car for Japanese Championship
No description available...
1w ago from Motorsport.com
Popular On GunnersToday.com
Arsecast Extra Episode 689 – 05.04.2026
Welcome to another Arsecast Extra, the Arsenal podcast, with myself and...
6h ago from Arseblog.com
Alan Shearer makes bold Premier League title...
Newcastle United legend Alan Shearer believes that Arsenal will find it...
7h ago from SportsKeeda.com
Southampton social media brutally trolls Arsenal after...
Southampton’s social media team has added salt to the wounds of the...
7h ago from CaughtOffside.com
Mikel Arteta takes full responsibility for Arsenal's...
Arsenal boss Mikel Arteta attributed the team's 2-1 FA Cup quarter-final...
8h ago from SportsKeeda.com
Comments
Hottest News
Mekies: ‘We all agree’ F1 must bring back flat-out...
Red Bull team principal Laurent Mekies has made... Read More »
2h ago from F1i.com
Franco Colapinto sends defiant message amid rapid Alpine...
Franco Colapinto scored his first point for... Read More »
1h ago from RacingNews365.com
Red Bull reveals why it is so far behind the competition in...
Red Bull is paying a heavy price for a decision... Read More »
4h ago from MotorsportWeek.com
