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 the entire company after posting a loss of £13m loss in 2019 and a split from title sponsor ROKiT. Williams is the third most successful team in the 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, the WGPH [Williams Grand Prix Holdings] board is undertaking a review of all the various strategic options available to the Company,” said Williams in a statement.

“Options being considered to include, but are not limited to, raising new capital for the business, divestment of a minority stake in WGPH, or a divestment of a majority stake in WGPH including a potential sale of the whole Company. Whilst no decisions have been made regarding the optimal outcome yet, to facilitate discussions with interested parties, the Company announces the commencement of a ‘formal sale process’.”

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Williams 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.

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

Regarding an immediate sale, Williams said, "The Company is not in receipt of any approaches at the time of this announcement and confirms that it is in preliminary discussions with a small number of parties regarding a potential investment in the Company.. There can be no certainty that an offer will be made, nor as to the terms on which any offer will be made. The WGPH board reserves the right to alter or terminate the process at any time and if it does so it will make an announcement as appropriate. The WGPH board also reserves the right to reject any approach or terminate discussions with any interested party at any time."

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