Williams are prepared to end decades of family control and sell the struggling Formula One team to secure its future after tough times on and off ...
Williams are prepared to end decades of family control and sell the struggling Formula One team to secure its future after tough times on and off the track, deputy principal Claire Williams said on Friday.
The announcement is a major shift for a proudly British company co-founded by Frank Williams, Claire's father, and that won a string of world championships during a period of dominance in the 1980s and 90s.The team have won 114 races to date but have been last for the past two years. "Williams as a family have always put our Formula One team first," she told reporters in a Zoom call after annual results showed a loss of 13 million pounds in 2019 compared to a previous profit of 12.9 million.
Williams said nothing was ruled out but sidestepped a question about whether the company was at risk if a sale was not forthcoming.Williams said the review was not driven by any one, key factor such as the COVID-19 pandemic that has stalled the 2020 season and will have a big impact on revenues."We are fully funded throughout the remainder of this year to continue racing as and when we can go back to the circuit," she added. Formula One aims to start the season in July.
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