Formula One teams fail their financial MOTs
Sunday 29 March 2009
As Formula One's 10 teams get off to a flying start in today's season-opening Australian Grand Prix, a report by Dun & Bradstreet, the business information firm, has appeared on the teams' creditworthiness.
It shows they have been paying their bills much later in 2009 than in 2008. The data indicates which outfits are running healthy businesses and which may reverse out of the sport with financial problems.
The British Williams team had the biggest increase in late payments, indicating that Its finances may be far from pole position.
The dubious honour of the sport's latest payer, however, goes to the Force India team, owned by Indian aviation billionaire Vijay Mallya, which settles its bills 72 days late. World Champion McLaren is the second slowest payer while Toro Rosso, owned by Red Bull, is the only one to pay on time.
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