- F1 team may sanction partial or complete sale of the company
- Mercedes reaffirm commitment to F1 amid Wolff exit rumours
The Williams Formula One team is to consider putting itself up for sale in order to ensure its future. The team, still one of the most successful and longest running in F1 has been fiercely independent in the hands of owner Sir Frank Williams since its debut in 1977. However, after announcing losses of £13m last year and under increasing financial pressure because of the coronavirus, Williams are to open negotiations on the partial or complete sale of the company.
On Friday the team issued a statement announcing it was to take a “new strategic direction” and would use financial advisors to review their position and identify and assess businesses interested in investment or takeover. Williams stated they were already in discussions with a small number of potential investors.
Written by Giles Richards
This news first appeared on https://www.theguardian.com/sport/2020/may/29/williams-f1-team-open-negotiations-for-sale-amid-pandemic-pressure-motor-racing under the title “Williams F1 team open negotiations for sale amid virus pandemic pressure”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.
