Williams Up For Sale After £13m Loss Last Year

50
708

Williams Up For Sale After £13m Loss Last Year

The Williams Formula 1 team and wider company group are up for sale after posting a £13m loss last year.

The momentous decision marks a major change in direction for a company whose founder Sir Frank Williams had previously always insisted on retaining control.

Deputy team principal Claire Williams said: “Frank has always ensured he puts the team, business and our people first, and that’s what we’re doing now.”

She said the aim was to secure the team’s future through internal investment.

Sir Frank, 78, is no longer involved in the day-to-day running of the team.

Claire Williams said: “Frank is always aware of and up to speed with every decision the board takes and is supportive.

“He wants to ensure the future success of his team and understands and agrees this is the right time to seek inward investment to achieve that.”

The company said in a statement that they were considering “various strategic options… including but not limited to raising new capital for the business, a divestment of a minority stake in Williams Grand Prix Holdings, or a divestment of a majority stake in WGPH including a potential sale of the whole company”.

It said the company was “not in receipt of any approaches at the time of this announcement” but said it was “in preliminary discussions with a small number of parties regarding a potential investment”.

Claire Williams said in a conference call that the aim was to complete the process “within the next three to four months, but we are fully funded throughout the remainder of this year”.

Asked if the company was at risk if the team could not be sold, Claire Williams said: “I have every confidence we will find the investment we need.”

Managing director Mike O’Driscoll said there were “no prescribed outcomes” and that a “whole sale is just one option”.

The move comes in the wake of Williams finishing last in the constructors’ championship for the second year in succession in 2019, leading to a significant drop in income.

She said she believed the introduction of a budget cap from 2021 and new regulations aimed at levelling the field from 2022 made the team an attractive opportunity.

She said she was “very confident about this team’s future and our ability to succeed in our sport again because the environment in which we can compete is changing”.

She said there was “no one key factor” in the decision to put the company up for sale but the coronavirus crisis was a contributor.

https://www.bbc.com

F1 is facing a significant loss of income as a result of the lack of racing this year, with all major revenue streams under threat.

Man Utd In Dialogue For Extension On Striker’s Loan Deal

The sport is aiming to start a curtailed season in Austria at the beginning of July.

Williams also announced that they had “terminated its sponsorship arrangements with Rokit, effective immediately”.

Williams is one of the most successful teams in F1 history, and dominated large swathes of the 1980s and 1990s, winning multiple championships with the likes of Alan Jones, Keke Rosberg, Nelson Piquet, Nigel Mansell, Alain Prost and Damon Hill.

But its competitiveness has declined this century. Williams went through a brief renaissance from 2014-17, when it finished third twice and then fifth twice, but has fallen to the back in the last two years.

Williams Up For Sale After £13m Loss Last Year

50 COMMENTS

  1. Youre so great! I do not intend Ive check out anything similar to this prior to. So wonderful to locate somebody with some original thoughts on this subject. realy thank you for beginning this up. this site is something that is needed on the web, someone with a little creativity. useful job for bringing something brand-new to the internet!

  2. Hiya, I am really glad I’ve found this information. Nowadays bloggers publish just about gossips and internet and this is actually irritating. A good blog with exciting content, that’s what I need. Thank you for keeping this site, I’ll be visiting it. Do you do newsletters? Can’t find it.

  3. I will immediately grab your rss feed as I can’t find your e-mail subscription link or newsletter service. Do you’ve any? Kindly let me know in order that I could subscribe. Thanks.

  4. What i don’t realize is in fact how you’re no longer actually much more neatly-favored than you might be right now. You are very intelligent. You recognize therefore significantly in the case of this topic, produced me for my part consider it from so many various angles. Its like men and women are not involved except it’s one thing to do with Woman gaga! Your own stuffs excellent. At all times take care of it up!

  5. Thanks for the points shared on your own blog. Yet another thing I would like to express is that fat loss is not supposed to be about going on a dietary fad and trying to reduce as much weight as you’re able in a few months. The most effective way to shed weight is by having it gradually and following some basic suggestions which can make it easier to make the most through your attempt to shed weight. You may learn and be following some of these tips, yet reinforcing awareness never does any damage.

  6. I was just looking for this information for a while. After six hours of continuous Googleing, at last I got it in your web site. I wonder what is the lack of Google strategy that do not rank this type of informative sites in top of the list. Normally the top sites are full of garbage.

  7. It is my belief that mesothelioma will be the most fatal cancer. It has unusual traits. The more I actually look at it the harder I am assured it does not react like a true solid tissue cancer. If mesothelioma is usually a rogue viral infection, hence there is the probability of developing a vaccine and also offering vaccination for asbestos exposed people who are open to high risk connected with developing foreseeable future asbestos connected malignancies. Thanks for giving your ideas for this important ailment.

  8. It is appropriate time to make some plans for the future and it is time to be happy. I’ve read this post and if I could I want to suggest you some interesting things or suggestions. Maybe you could write next articles referring to this article. I want to read more things about it!

  9. Hello there, just became aware of your blog through Google, and found that it’s really informative. I’m going to watch out for brussels. I will be grateful if you continue this in future. Numerous people will be benefited from your writing. Cheers!

  10. The next time I read a weblog, I hope that it doesnt disappoint me as a lot as this one. I imply, I do know it was my option to read, however I really thought youd have something fascinating to say. All I hear is a bunch of whining about something that you can fix when you werent too busy searching for attention.

  11. certainly like your web site however you need to check the spelling on quite a few of your posts. A number of them are rife with spelling problems and I in finding it very troublesome to inform the truth nevertheless I will certainly come again again.

  12. Usually I don’t learn post on blogs, but I would like to say that this write-up very forced me to check out and do it! Your writing taste has been surprised me. Thanks, very nice article.

  13. I just could not depart your website prior to suggesting that I extremely loved the usual info an individual provide on your visitors? Is gonna be back frequently to investigate cross-check new posts

  14. When I initially commented I clicked the -Notify me when new comments are included- checkbox and currently each time a comment is added I get 4 e-mails with the same remark. Exists any way you can eliminate me from that solution? Thanks!

  15. I simply wanted to say thanks once again. I’m not certain the things I would’ve gone through without these opinions revealed by you regarding such question. Completely was a real hard condition in my circumstances, however , witnessing this specialized fashion you resolved the issue forced me to jump over fulfillment. Now i’m grateful for your work and in addition hope you realize what an amazing job that you are doing educating the others thru your web blog. Probably you haven’t come across any of us.

  16. Thanks for discussing your ideas. A very important factor is that college students have a solution between fed student loan plus a private education loan where its easier to go for student loan debt consolidation than with the federal student loan.

  17. I am really loving the theme/design of your site. Do you ever run into any web browser compatibility problems? A number of my blog audience have complained about my website not working correctly in Explorer but looks great in Opera. Do you have any solutions to help fix this problem?

  18. I have figured out some new items from your internet site about desktops. Another thing I have always presumed is that computers have become something that each home must have for many people reasons. They offer convenient ways to organize households, pay bills, go shopping, study, listen to music and perhaps watch tv series. An innovative method to complete many of these tasks has been a laptop. These desktops are mobile ones, small, effective and convenient.

  19. You really make it seem so easy with your presentation but I find this topic to be really something that I think I would never understand. It seems too complicated and very broad for me. I’m looking forward for your next post, I’ll try to get the hang of it!

  20. I am really loving the theme/design of your weblog. Do you ever run into any internet browser compatibility issues? A couple of my blog visitors have complained about my blog not working correctly in Explorer but looks great in Safari. Do you have any suggestions to help fix this problem?

  21. I must express my affection for your generosity supporting those who really need guidance on this important subject matter. Your personal commitment to getting the solution all-around had been extremely valuable and has continually helped others like me to get to their endeavors. Your helpful facts signifies a lot to me and additionally to my peers. With thanks; from everyone of us.

  22. Great post. I am a regular visitor of your web site and appreciate you taking the time to maintain the nice site. I will be a frequent visitor for a really long time.

  23. With havin so much content do you ever run into any issues of plagorism or copyright violation? My website has a lot of completely unique content I’ve either created myself or outsourced but it seems a lot of it is popping it up all over the web without my agreement. Do you know any solutions to help protect against content from being ripped off? I’d really appreciate it.

  24. There are some attention-grabbing closing dates in this article but I don’t know if I see all of them middle to heart. There’s some validity however I’ll take maintain opinion until I look into it further. Good article , thanks and we want more! Added to FeedBurner as nicely

  25. Oh my benefits! an outstanding post dude. Thanks Nonetheless I am experiencing concern with ur rss. Don?t understand why Unable to register for it. Exists anyone obtaining the same rss problem? Any person who recognizes kindly respond. Thnkx

  26. Thanks for all of your effort on this website. Kate loves going through internet research and it’s really obvious why. All of us learn all relating to the lively medium you render powerful suggestions by means of the blog and even boost response from other ones about this theme so our daughter has been understanding a great deal. Enjoy the rest of the year. You have been doing a pretty cool job.

  27. Can I just state what an alleviation to locate a person that really knows what theyre discussing online. You definitely understand just how to bring an issue to light as well as make it crucial. More people need to read this and comprehend this side of the story. I angle believe youre not a lot more prominent since you absolutely have the present.

  28. Hi there just wanted to give you a quick heads up. The words in your post seem to be running off the screen in Internet explorer. I’m not sure if this is a format issue or something to do with internet browser compatibility but I thought I’d post to let you know. The design look great though! Hope you get the problem fixed soon. Many thanks

LEAVE A REPLY

Please enter your comment!
Please enter your name here