Williams 2023 livery

Williams’ financial position “more robust” despite Latifi departure

2023 F1 season

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Williams’ commercial director James Bower has dismissed suggestions the team is in a financially weaker position having lost the funding that came with former driver Nicholas Latifi.

Bower spoke to select media including RaceFans at the team’s 2023 livery launch, where it was confirmed that Williams have a new major partner in oil supplier Gulf. However the brand has limited presence on the livery of Williams’ new car, and the sidepods were bare.

“We are in clearly a multiple-year commercial plan of how we rebuild the team,” said Bower. “I think there’s a perception about lost revenue from recent changes that is not [the case], there’s a perception and reality is slightly different.

“We are launching a number of new partners as we go into the season as well. So I think we’re in a more robust position than the team’s been in for a number of years. And we’re ambitious and aggressive in terms of how we are in the market as well and how we’re investing in building the Williams brand. And of course having Gulf as part of the commercial partner portfolio for that journey is really exciting.”

Bower indicated the team’s new commercial agreements were not too dissimilar to how previous partners had helped fund the team.

“I think the previous relationship was kind of multiple-year, and as you’ll know, before I joined [in 2021]. But I think we are building a world-class partner portfolio, and Gulf clearly are a key component of that going forward,” he said, before making reference to the loss of Latifi’s backing.

“We have commercial targets that will see us beyond any shortfall from the recent changes that [have been] referenced.”

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Nicholas Latifi, Williams, Silverstone, 2022
Latifi brought several sponsors with him to Williams
Williams’ connection to North America has not only been continued by replacing a Canadian driver with an American, Logan Sargeant, but also in being the only F1 team to have an office on the continent.

That New York office is led by Aidan Lyons, who is Williams’ chief growth officer and was previously vice-president of fan-centric marketing and senior marketing director at the National Football League, the most popular sport competition in the USA.

“There’s a number of American sports marketing specialists in that team,” Bower added. “We’re investing in fan activations around the US races and assets that we have in-market.

“So when those things come together, then with Logan and with Jamie Chadwick on the Academy as well, competing in [IndyCar support series] Indy Nxt, it’s building a kind of centre of gravity that is helping us commercially.

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Author information

Ida Wood
Often found in junior single-seater paddocks around Europe doing journalism and television commentary, or dabbling in teaching photography back in the UK. Currently based...

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One comment on “Williams’ financial position “more robust” despite Latifi departure”

  1. Indeed. If they still needed sponsor money from drivers, they would’ve kept him regardless of his performance level.

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