A well-documented article published by financial news service Bloomberg showed that Ross Brawn and other directors of the Brawn Grand Prix team made millions of dollars after their Formula 1 team won the World Championship title last year.
According to the article written by Alex Duff, Ross Brawn shared $31 million with his co-directors before the team was sold to Daimler AG’s Mercedes and Abu Dhabi fund Aabar Investments PJSC for about US $170 million.
Duff base its article on the financial filing made by the team.
The financial filing at Companies House in London was by Mercedes-Benz Grand Prix Ltd., which was formerly Brawn GP Ltd.
The filing said Ross Brawn, who led a management buyout of Honda Motor Co.’s Formula 1 team when the carmaker quit, loaned 3.5 million euros to the team as it struggled to stay in business in March 2009, adding the amount was repaid during the year.
The business filing also showed a $152 million profit for 2009, from which Brawn paid himself and his colleagues more than $10 millions.
The directors have remained with the team, now called Mercedes Grand Prix, which is currently fourth in the 2010 standings.
According to the article written by Alex Duff, Ross Brawn shared $31 million with his co-directors before the team was sold to Daimler AG’s Mercedes and Abu Dhabi fund Aabar Investments PJSC for about US $170 million.
Duff base its article on the financial filing made by the team.
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| Jenson Button, Brawn GP, 2009 (Photo: WRI2) |
The financial filing at Companies House in London was by Mercedes-Benz Grand Prix Ltd., which was formerly Brawn GP Ltd.
The filing said Ross Brawn, who led a management buyout of Honda Motor Co.’s Formula 1 team when the carmaker quit, loaned 3.5 million euros to the team as it struggled to stay in business in March 2009, adding the amount was repaid during the year.
The business filing also showed a $152 million profit for 2009, from which Brawn paid himself and his colleagues more than $10 millions.
The directors have remained with the team, now called Mercedes Grand Prix, which is currently fourth in the 2010 standings.