In Formula One news, Williams has won a £26 million lawsuit against former sponsors, giving them a boost ahead of the new season.

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Williams wins £26 million in a lawsuit against former sponsors, giving them a boost ahead of the new season.

Prior to the 2022 season, WILLIAMS will be given a boost.

The Williams Formula One team has received a huge boost ahead of the new season after winning a 26 million pound ($35.7 million) arbitration award after their former title sponsor ROKiT backed out of two multi-year sponsorship deals.

Following a contract extension in 2019, ROKiT was set to be Williams’ title sponsor until the end of the 2023 Formula One season.

The telecommunications company was initially announced as a three-year sponsor, but it was announced that Williams and ROKiT had parted ways prior to the delayed start of the 2020 season, which saw the COVID-19 pandemic sweep the globe.

The London Court of International Arbitration had ordered ROKiT to pay the Oxford-based team “roughly £26.2 million in missed payments, as well as a (dollar)1 million bonus payment,” according to Motorsportweek.com.

ROKiT stated that they would pay Williams in installments of £3.5 million to £5 million as part of the title sponsorship agreement.

Williams filed a new lawsuit, this time in the United States, after no payments were made.

ROKiT owner Johnathan Kendrick reportedly stated that he would pay (dollar)1 million by March 2020, with a company employee later sending a document to Williams transferring the (dollar)24.4 million owed to them at the time.

Williams were having financial difficulties at the time, and the family-run business was acquired by Dorilton Capital, a US investment firm, later in 2019.

According to the report, ROKiT claimed Williams had not “fulfilled its obligations under the deal after January 1, 2020,” an argument that was rejected by arbitrator Klaus Reichert SC when the case went to a federal court hearing in the US.

Despite the loss of George Russell, who has moved up to Mercedes to partner Lewis Hamilton, the Williams team can now focus on their 2022 season.

After a difficult stint at Red Bull, Canadian Nicholas Latifi will be paired with British-Thai driver Alex Albon.

“It’s fantastic to be able to confirm our driver line-up for 2022, and I’m delighted to be welcoming Alex to the team, as well as confirming our continued relationship with Nicholas into next year,” Williams boss Jost Capito said.

“We are ecstatic about our.

“Brinkwire News Summary.”

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