In 2019, ROKiT, a mobile phone company, became the title sponsor of the Williams team. The agreement between the two parties was even extended until 2023.<\/p>\n
In 2020, a ROKiT-branded white and red race car was unveiled by the team. However, due to the COVID-19 health crisis, it was unable to be driven. Even though the season was supposed to resume in July 2020, the company ended its commitments with the team during the pandemic. The team’s owners then decided to seek legal action in the British court to receive the contracted amount. While the mobile phone company argued that the team had breached its contractual obligations, the London International Arbitration Court still ordered ROKiT to pay several million dollars.<\/p>\n
In the summer of 2021, the Williams team was sold to the American investment fund Dorilton Capital, which did not facilitate the procedure. However, the condemned company still does not pay the amount specified in the judgment. The Williams team then brings the case before the California court, this time in December 2021.<\/p>\n
The California court confirms the judgment rendered at first instance.<\/p>\n
The judgment rendered by the International Court of Arbitration in London in the case of Williams Grand Prix Engineering vs Rokit Marketing Inc. and Rok Marketing LLC, is confirmed in all aspects, states Judge Christina A. Snyder and orders the payment of the amount owed to the Williams team: Consequently, the following compensation is awarded: the defendant must pay the plaintiff the sum of \u00a326,220,094.25, as well as one million dollars for the costs incurred in this procedure.<\/p>\n
The ROKiT company, the title sponsor of Williams, will therefore have to pay over 32 million euros to the team, good news for its development!<\/p>\n","protected":false},"excerpt":{"rendered":"
In a ruling made public this week, the California court ordered Williams to pay financial compensation of over 30 million euros from its former title sponsor ROKiT.<\/p>\n","protected":false},"author":108,"featured_media":34446,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1,1749],"tags":[245,1503,1707],"class_list":["post-4778","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-f1","category-news","tag-economie","tag-sponsoring","tag-williams"],"acf":[],"yoast_head":"\n