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
How MotoGP’s energy drink landscape could shift
No description available...
3h ago from Motorsport.com
Keeping Fabio di Giannantonio at VR46 'Plan A', admits...
No description available...
2h ago from Motorsport.com
CFMoto ‘fully committed’ to supporting potential...
CFMoto Aspar team boss Jorge Martinez says the Chinese manufacturer is...
1h ago from MotorsportWeek.c...
Manufacturers stand up to Liberty in Jerez as MotoGP...
No description available...
22h ago from Motorsport.com
Popular On IndyCarToday.com
Mick Schumacher shares injury update after breaking...
No description available...
1h ago from Motorsport.com
Rookie Caio Collet fastest in two-day Indy 500 open...
The NTT IndyCar Series held its traditional two-day open test for the...
17h ago from MotorsportWeek.c...
Rookie Caio Collet tops last day of Indy 500 Open Test...
No description available...
17h ago from Motorsport.com
Popular On TotalWRC.com
Toyota steps up WRC 2027 car testing with new look...
No description available...
23h ago from Motorsport.com
M-Sport weighs up WRC new car build as all options...
No description available...
1d ago from Motorsport.com
How Dani Sordo brings "different ideas" to...
No description available...
1d ago from Motorsport.com
Oliver Solberg explains crash that ended WRC Canary...
No description available...
3d ago from Motorsport.com
Popular On GunnersToday.com
Update: Man Utd could use Sir Alex Ferguson to beat...
Manchester United are reportedly considering using their legendary former...
1h ago from CaughtOffside.com
Paul Merson predicts Manchester United vs Liverpool...
I went to the Premier League game at the Emirates last weekend and I could...
49m ago from SportsKeeda.com
Arteta will seek to use perceived injustices as...
ager may have sought an edge with his fume after first-leg draw but...
2h ago from TheGuardian.com
'You're going to have to answer' – Thierry Henry...
Arsenal legend Thierry Henry has asserted that Gunners manager Mikel...
2h ago from SportsKeeda.com
Comments
Hottest News
Colton Herta says Cadillac need to see value in his FP1...
Colton Herta, Cadillac Formula 1 Team's test... Read More »
49m ago from GrandPrix247.com
World champion sprinter sues Mercedes F1 team: 'Unsafe,...
A world champion runner has begun legal action... Read More »
4h ago from GPFans.com
Ferrari make 'heads down' vow after F1 spring break study...
Fred Vasseur wants Ferrari to remain focused on... Read More »
49m ago from RacingNews365.com
