Major financial impact revealed after F1 team's SHOCK driver signing

Williams Racing team principal James Vowles has revealed major financial implications for the team have arisen as a result of their recent shock driver signing.

Logan Sargeant - who had already been replaced for 2025 - lost his seat with the team ahead of the Italian Grand Prix this weekend after a huge shunt at Zandvoort last time out, most likely costing the team millions.

F1 HEADLINES: Italian Grand Prix rocked by early CRASH as Mercedes announce driver replacement

F1 RESULTS: Ricciardo LEADS key RB battle as Hamilton replacement crashes on debut

During free practice at the Dutch Grand Prix, Sargeant dipped a tyre on the wet grass, accelerating and sending his car spinning out of control and into the barrier at speed.

His car suffered huge damage as a result and quickly burst into flames- an agonising development for Williams given they had worked so hard to bring a full upgrade package to the event.

READ MORE: Hamilton replacement CRASHES as F1 debut rocked by red flag

Financial implications for Williams

Williams announced that Sargeant would be replaced for the remainder of the 2024 season by F2 and Williams junior driver Franco Colapinto.

It seems that hiring the Argentinian is set to have a positive effect in terms of finances, too. Whilst Vowles confirmed that Colapinto himself brings no money to the table, he did confess that the phone had not stopped ringing with Argentinian sponsors getting in touch.

"He brings no money with him," Vowles explained to Sky F1.

"What's been exceptional is that from the moment effectively we informed him and his management of the decision...the phone hasn’t stopped ringing yet of Argentinian companies coming on board as a result of it," Vowles revealed.

“What you’re going to see appearing on the car are stickers that are paying the right value and the right rate for it, so in other words, it’s not money because of Franco, they want to be exposed on the car and be proud of the fact that we’re running an Argentinian driver.

“But he, himself, if you know him enough, you’ll know throughout his career he’s been on a shoestring budget without any money, he hasn’t got anything to his name.”

Just hours after Vowles' comments, Williams announced a new partnership with Latin American e-commerce and digital payments giant Mercado Libre, with the brand set to sponsor the team from the Azerbaijan Grand Prix onwards.

Williams Racing today announces a new partnership with Latin American e-commerce and digital payments giant Mercado Libre.

Its iconic handshake logo will feature on the FW46 from next month’s Azerbaijan Grand Prix.

— Williams Racing (@WilliamsRacing) August 30, 2024

READ MORE: F1 safety car CRASHES at Italian Grand Prix

Related

F1 Social

F1 star in savage jibe after being caught out by team principal

• August 6, 2025 11:44

Latest F1 News

Williams announce major rival swoop as F1 stalwart with ‘unfinished business’ confirms return

• July 29, 2025 17:59