Williams get cash injection from Latifi sponsorship
Will the money help propel Williams forwards in 2020?
Williams have been welcomed new team partner Lavazza on board for the 2020 Formula One season - coffee roasters Lavazza being a long-term sponsor of new driver Nicholas Latifi.
With Canadian food manufacturer Sofina having confirmed an extension to their existing partnership with Williams earlier on Wednesday, Lavazza have now added their support to the team - becoming not just a sponsor, but an official partner.
“Lavazza and ROKiT Williams Racing share similar values, we build our businesses around passion for work, and for our product," said deputy team principal Claire Williams. "These attributes around innovation and entrepreneurship provide solid foundations for our companies to build a strong partnership. I look forward to working with Lavazza and welcoming them into Formula One, for the 2020 season.”
Finishing last in the 2019 constructors' standings and with only a single point to show for the 21-Grand Prix, Williams have seen a massive chunk of prize-money disappear from their annual budget.
Even with a cost cap of $175million being introduced for 2021 and beyond, it would be impossible for teams like Williams to even contemplate spending even this much without significant amounts of sponsorship.
The announcements come at a very timely moment for the team and with pre-season testing in Barcelona just several weeks away.
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