F1 News, Reports and Race Results

Williams received £10M windfall for releasing Bottas!

Mercedes made Williams an offer it could not refuse last winter to secure the services of Valtteri Bottas following the retirement of Nico Rosberg.

The German manufacturer was left with few reasonable choices to replace the reigning world champion at the end of last year and set its sights on the Finnish driver who was contracted to Williams for 2017.

Williams reports profit boost at start of 2017

According to Motorsport.com, the Grove-based outfit was convinced to release its number one driver in exchange for £10 million!

Williams Grand Prix Holdings, which is a publicly quoted company, released its financial results for the first half of 2017 this week, revealing that its racing team generated a profit of more than £10.4 million.

Without the lavish Mercedes payment received in exchange for Bottas, profits at Williams would have likely been close to nothing.

Rosberg's retreat from the sport saved Mercedes the payment of a hefty retainer, estimated at $20 million, which would have been owed to the German had he stayed with the Silver Arrows squad in 2017.

Overall therefore, despite its buy-out of Bottas' contract, Mercedes likely saved itself some cash.

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Phillip van Osten

Motor racing was a backdrop from the outset in Phillip van Osten's life. Born in Southern California, Phillip grew up with the sights and sounds of fast cars thanks to his father, Dick van Osten, an editor and writer for Auto Speed and Sport and Motor Trend. Phillip's passion for racing grew even more when his family moved to Europe and he became acquainted with the extraordinary world of Grand Prix racing. He was an early contributor to the monthly French F1i Magazine, often providing a historic or business perspective on Formula 1's affairs. In 2012, he co-authored along with fellow journalist Pierre Van Vliet the English-language adaptation of a limited edition book devoted to the great Belgian driver Jacky Ickx. He also authored "The American Legacy in Formula 1", a book which recounts the trials and tribulations of American drivers in Grand Prix racing. Phillip is also a commentator for Belgian broadcaster Be.TV for the US Indycar series.