- Formula money
Formula One teams bad at paying their debts
- Teams:
- Racing Point
- |
- Red Bull
Force India pays bills later than most of its Formula One team rivals, according to a report in the Daily Mail.
The newspaper said the team, which is owned by the Indian liquor baron, politician and billionaire Vijay Mallya, pays bills on average 30 days past due. "If Vijay sold his yacht, it would keep the team going for a couple of years," said an unnamed supplier.
On the other end of the scale, business information firm Dun and Bradstreet found that 2010 drivers' and constructors' champions Red Bull is the only team in F1 that pays its bills when they are due. The report, comparing data from December 2009 to November last year, said Red Bull's punctuality is due to a recently-boosted budget.
On average, however, F1 teams reportedly pay their bills 28 days late, which is four days later than the previous Dun and Bradstreet report.
The worst offender is F1 newcomer Team Lotus, paying its bills 180 days late, but the report showed that even Ferrari and Mercedes usually fail to pay suppliers on time.
© ESPN Sports Media Ltd.
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