Williams Formula 1 posts $13 million loss, announce decision to sell stake in company

Williams Grand Prix Holdings, which runs Williams Formula One has stated that it is evaluating to sell entire company after posting a loss of £13m loss in 2019 and a split from title sponsor ROKiT. Williams is third most successful team in sport with nine constructors’ titles and seven drivers’ titles.

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Williams set to be sold?

“As part of this new strategic direction, WGPH [Williams Grand Prix Holdings] board is undertaking a review of all various strategic options available to Company,” said Williams in a statement.

“Options being considered to include, but are t limited to, raising new capital for business, divestment of a mirity stake in WGPH, or a divestment of a majority stake in WGPH including a potential sale of whole Company. Whilst decisions have been me regarding optimal outcome yet, to facilitate discussions with interested parties, Company anunces commencement of a ‘formal sale process’.”

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Williams dominated large swas of 1980s and 1990s, winning multiple championships with likes of Alan Jones, Keke Rosberg, Nelson Piquet, Nigel Mansell, Alain Prost and Damon Hill. But its competitiveness has declined this century.

Although Williams went through a brief renaissance from 2014-17, when it finished third twice and n fifth twice, team has fallen off pace. Williams struggled during 2019, scoring only one point from Robert Kubica’s 10th-place finish at German Grand Prix in July.

Regarding an immediate sale, Williams said, " Company is t in receipt of any approaches at time of this anuncement and confirms that it is in preliminary discussions with a small number of parties regarding a potential investment in Company.. re can be certainty that an offer will be me, r as to terms on which any offer will be me. WGPH board reserves right to alter or terminate process at any time and if it does so it will make an anuncement as appropriate. WGPH board also reserves right to reject any approach or terminate discussions with any interested party at any time."

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