All 11 teams on the Formula 1 grid this season are worth billions of pounds, but the financial security of each manufacturer hasn’t always been this certain.
Williams Racing were bought by owners Dorilton in 2020 in a deal worth £146m, which seems like a steal in the current market.
Toto Wolff sold 15% of his stake in the Mercedes F1 team at the end of last year for £230m, highlighting just how quickly the sport is growing around the world.
Williams are one of the most successful teams in Formula 1 history, having won nine constructors’ championships and seven individual titles.
However, before the Williams family sold, they struggled at the beginning and at the end of the 2010s.
The success of Felipe Massa and Valtteri Bottas between those two periods must be celebrated, but in 2011, Williams cashed in on one of the most lucrative pay driver deals in F1 history.
Williams earned £29.4m from Pastor Maldonado during the 2011 Formula 1 season
Before buying his stake in Mercedes, Wolff was part of the Williams ownership structure.
A report from ESPN at the time spoke about how Williams nearly merged with minnows Marussia to try to keep both teams alive.
Marussia eventually became Manor Racing, which folded in 2016; however, talking about the negotiations, Wolff said: “One of the discussions we had was with Marussia.
“They discussed it with Sauber as well. You have a high-profile, wealthy individual who funds the team with 50, 60 or 70 million a year, similar to Tony Fernandes, but, performance-wise, is not getting anywhere.
“Then you have a team which is self-funded, where you could buy a substantial minority stake, 5% maybe or more, and you could go on to the board. At the same time, instead of paying 50, 60, 70 million a year, you pay 20 or 30, and you promote your own brand. It would close Marussia, it would close Caterham or whatever.
“That’s why those discussions are getting nowhere.”
The report goes on to say that Maldonado brought £29.4m with him in order to confirm his Williams seat in 2011, which was confirmed when an Instagram post from Eduardo Ramirez shared the terms of the Venezuelan’s agreement.
Maldonado was backed by the Venezuelan oil company PDVSA, and he helped keep Williams alive, as well as achieving the best result in their recent history.
Pastor Maldonado’s Formula 1 career and how he achieved Williams’ most recent F1 win
Maldonado made his F1 debut with Williams in 2011 after winning the GP2 series the previous year.
The Venezuelan beat future F1 drivers such as Sergio Perez, Jules Bianchi and Romain Grosjean to that title, but only scored a single point during his maiden campaign with Williams.
However, Maldonado’s crowning moment came at the 2012 Spanish Grand Prix when he took pole position and won the race from Fernando Alonso.
It remains the last time Williams have won a Formula 1 race and was Maldonado’s only victory at that level.
Williams needed the financial backing Maldonado brought to survive on the grid, but after three years, he moved on to join Lotus.
Two seasons with the British team followed, and despite four top 10 finishes in his final six races of 2015, that was the last time he raced in Formula 1.
READ MORE: Juan Pablo Montoya reveals how much it costs to actually drive the Williams F1 car he owns
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