Daily Mirror (Northern Ireland)
For sale sign is going up at Williams
THE famous Williams name could be parked up for good as the British F1 team was put up for sale.
Deputy team principal Claire Williams revealed decades of family control may end in order to secure the team’s future after posting a £13million loss last year.
Discussing whether the Williams name could disappear, she said: “It’s too early probably to hypothesise on what the team could and couldn’t be called. It certainly doesn’t mean this team won’t continue to race for many years to come.”
The iconic team was founded by Claire’s father Sir Frank, now 78, over 40 years ago and won a string of world titles in the 1980s and 90s.
British heroes Nigel Mansell and Damon Hill romped to memorable titles for the Oxfordshire-based outfit along with fellow legends Alain Prost and Nelson Piquet.
The team have won 114 races to date, making them one of the sport’s most successful teams, but have suffered a dramatic recent decline, finishing last in the constructors championship over the past two seasons.
A strategic review will look at options ranging from new investment to selling the entire company.
But Claire Williams (above) rejected suggestions that a sale could be seen as a sign of desperation.
She added: “I’ve every confidence we will find the investment we need. Williams as a family have always put our Formula One team first.
“Seeking inward investment at this juncture is absolutely in line with that philosophy – to protect our team’s future and to protect the people who work for us.”
This development coincides with the decision to end title sponsorship with ROKIT. Talks are continuing at a time when F1 fights to salvage a 2020 season ravaged by the coronavirus.
Williams claimed the company is hopeful of wrapping things up in the next three to four months.
She also said her father, who is no longer involved in the day-to-day running of the business, was “up to speed” and supportive of the move.
“He wants to ensure the future success of his team and understands and agrees this is the right time to seek inward investment in order to achieve that.”