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Lafiti keeps Williams afloat with loan of 50 million pounds
Several Formula 1 teams need to pull out all the stops to keep their heads above water. Half of the teams are already getting an advance on Liberty Media's TV funds and McLaren is considering taking out an extra mortgage. Williams, the team where the need was greatest, fortunately has a benevolent investor in Michael Lafiti. Because Nicholas Latifi will be driving for the Williams team next season, father Michael will do everything he can to keep that team afloat for the time being. That's why he now lends Williams an amount of 56 million euros. The collection of historic cars and the entire factory count as collateral for that loan. Should the British race stable not be able to repay the...
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5y ago from GPBlog.com
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