WILLIAMS RACE SEAT COST NEARLY $50 MILLION

Nicolas Latifi joins Williams – Photo: LAT

Team Williams announcing that Canada’s Nicolas Latifi will be teammates with George Russell next season came as no surprise. But the millions of dollars involved are shocking even in a sport where pay drivers are common.

By DAN KNUTSON

Williams intended to have its test driver Latifi replace Robert Kubica in 2020 all along – but it had to wait until Latifi earned enough credits racing in Formula 2 this season so that he could qualify for a Formula 1 super license.

Nicolas is the son of multibillionaire Michael Latifi, a Canadian businessman who founded Sofina Foods. He invested £200 million (A$382 million) to buy 10 per cent of the McLaren Group in 2018. Just how much the senior Latifi is paying Williams is not made public, but in the leadup to the Abu Dhabi season finale sources in the Yas Marina paddock told AUTO ACTION that the figure is €30 million (A$49 million) per season.

Lance Stroll’s Canadian billionaire father Lawrence Stroll, of course, took things a step further by organising the consortium that bought the entire Force India now Racing Point team.

Many F1 drivers bring sponsors to their teams to help with expenses. Valtteri Bottas used to have a Finnish sponsor that paid first Williams and later Mercedes €8million (A$13 million) which became his annual salary.

Robert Kubica’s Polish sponsor contributed €14 million (A$23 million) this year and he kept €4 million for his salary. Williams net gain in 2020 is therefore €20 million.

Latifi will make his F1 racing debut in Melbourne on March 15 next year.

“I am thrilled to be stepping up as race driver for 2020,” he said. “I have thoroughly enjoyed working with the team this year, supporting them with the development of the car, and assisting wherever I can trackside and at the factory. I look forward to the journey ahead with the team, and I am excited to make my Formula 1 debut at the Australian Grand Prix in 2020.”

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