Paris – Mercedes-Benz has extended its contract with British Formula One outfit Williams until the end of 2025, the two firms announced on Friday.
Williams, who finished bottom of the championship last season after some of Force-India’s points were voided, announced poor financial results for the first quarter of 2019 on Tuesday with a drop of almost 24 percent in turnover compared to the same period last year.
“The financial results of Formula One reflect principally our last position in the constructors’ championship last year and the reduction of bonuses linked to it,” Williams chief executive Mike O’Driscoll said.
“There was also a global reduction in revenues linked to partnerships in relation to the first quarter of 2018.”
The original deal was set to finish at the end of the current campaign.
Williams are bottom of the constructors’ standings this term with their only point coming thanks to Robert Kubica’s 10th-placed finish at the British Grand Prix.
The next race of the season takes place in Singapore on Sunday, September 22.