Williams hit the skids
THE famous Williams name could be parked up for good after the British Formula One team was put up for sale yesterday.
Deputy team principal Claire Williams revealed decades of family control could come to an end in order to secure the team’s future after they posted a £13m loss last year.
Williams said: “It’s too early probably to hypothesise on what the team could and couldn’t be called. It certainly doesn’t mean that this team won’t continue to race for years to come.”
The British powerhouse was founded by Claire’s father, Sir Frank Williams, over 40 years ago and won a string of world titles in the 1980s and 90s.
British heroes Nigel Mansell (right) and Damon Hill romped to world titles for the Oxfordshire-based outfit as did fellow icons Alain Prost and Nelson Piquet.
Williams have won 114 races and are among the sport’s most successful teams, but their dramatic decline saw them finish last in the constructors’ championship in the previous two seasons.
A strategic review will look at options ranging from securing new investment to a potential sale of the entire company.
Williams said: “I have every confidence that we will find the investment we need. Williams as a family have always put our Formula One team first.
“I feel very much that seeking inward investment is absolutely in line with that philosophy we’ve always had – to protect our team’s future, to protect the people that work for us.”
This coincides with the decision to end the F1 team’s title sponsorship with ROKIT. Discussions are ongoing as F1 fights to salvage the 2020 season amid the coronavirus crisis.
Williams said that the company is hopeful of wrapping things up in three to four months and that her father, now 78, was “up to speed” and supportive.
She said: “He wants to ensure the future success of his team and understands and agrees that this is the right time to seek inward investment in order to achieve that.” Meanwhile, Mercedes has rejected reports that it could pull out of F1 and that Toto Wolff plans to resign as managing partner.