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McLaren posts loss after Mercedes, Whitmarsh payments
The McLaren F1 team posted a £25 million ($37.6m) loss in 2014, down from a £15m ($23m) profit in 2013, as a result of one-off costs and a downturn in performance, which saw the team fail to win a single race and secure just two podium finishes. The company's accounts show the overall McLaren Group made a loss of £16.3m ($24.6m), compared to a profit of £12.6m ($19m) in 2013, with much of that attributed to the Formula 1 team, rather than the 17 other companies it holds a stake in. One-off costs were the driving force behind a reduction in profit for the outfit, whilst their on-track performance also had a negative impact, helping to drive revenue down by 6.8...
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9y ago from GrandPrixTimes.com
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