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
Interview: Massimo Rivola on Aprilia's rise from last...
No description available...
59m ago from Motorsport.com
Why Ai Ogura’s Yamaha move is Honda’s cruellest...
No description available...
1h ago from Motorsport.com
Why Ducati stronghold Jerez presents Aprilia’s...
No description available...
23h ago from Motorsport.com
MotoGP star Pedro Acosta wants to keep racing beyond 35
No description available...
1d ago from Motorsport.com
Popular On IndyCarToday.com
Pato O'Ward issues damning verdict on ‘Mario...
Pato O'Ward isn't chasing F1 any more after falling out of love with...
18h ago from MotorsportWeek.c...
Winners and losers from the IndyCar Grand Prix of Long...
No description available...
19h ago from Motorsport.com
IndyCar names officiating director ahead of Indy 500
IndyCar Officiating has announced Scot Elkins as the new Managing...
20h ago from MotorsportWeek.c...
IndyCar Officiating confirms Scot Elkins as Managing...
No description available...
21h ago from Motorsport.com
Popular On TotalWRC.com
Why Dani Sordo is excited for his WRC topflight return
No description available...
1d ago from Motorsport.com
Ott Tanak lands 2027 WRC car testing role with Toyota
No description available...
4d ago from Motorsport.com
Thierry Neuville wants to "make everyone proud...
No description available...
4d ago from Motorsport.com
The Rally1 rookie proving he belongs in the WRC top...
No description available...
6d ago from Motorsport.com
Popular On GunnersToday.com
Transfer Deadline Day Speculation Is Driving Football...
Every summer, the transfer window builds towards a familiar crescendo....
49m ago from CaughtOffside.com
Arsenal could look to sign Manchester City veteran as...
Arsenal are reportedly weighing up a move for Manchester City midfielder...
2h ago from SportsKeeda.com
The limits of perception
A critical thinking error that all humans make is that once we become...
1h ago from Arseblog.com
Pitch Points: the pioneering Pellegrino Matarazzo, a...
world of soccer throws up no shortage of questions. Today, Graham Ruthven...
3h ago from TheGuardian.com
Comments
Hottest News
Ferrari set to give Lewis Hamilton F1 monster to beat...
Ferrari are bringing a completely revised car... Read More »
2h ago from GPFans.com
Lewis Hamilton reveals crucial advice from his father that...
Lewis Hamilton has revealed a sound piece of... Read More »
49m ago from GPFans.com
How Esteban Tuero unintentionally crowned a king in F1
In 1998, a teenage Argentinian named Esteban... Read More »
59m ago from F1i.com
