Racing Point reports £116m loss in first F1 year

The higher number has been revealed in the newly published first year accounts for Racing Point, which was established as a new company in August 2018 after Force India went into administration.

Because of that timing, the accounts run from August 2018 to August 2019, whereas usually F1 teams operate in calendar years from January to December, thus fully reflecting the income and costs associated with individual racing seasons. The Racing Point accounts include the final nine races of 2018, and the first 12 of 2019.

The figures reflect the fact that Racing Point paid £90m to acquire the rights and assets associated with the original Force India team, and that the new team also took on the debts of the original company, so that creditors could be paid immediately – and the team would then subsequently be refunded when the administration process was complete.

The accounts also confirm that Stroll provided £142m of the total of £200m share capital, and thus the Canadian owns 71% of the shares, with the rest split between his fellow investors in the consortium he put together.

Income for the period is listed at just £46m – substantially less than the £77m featured in the last published Force India accounts in 2016 – because of the way revenue has been allocated as a result of acquiring the…

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