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Amid Financial Crisis, are Williams Selling Majority Stake in F1 Team?

Amid Financial Crisis, are Williams Selling Majority Stake in F1 Team?

In what was a rather appalling tweet, Sky News’ Mark Kleinman on Thursday said that Williams F1 Team owner might be preparing to sell a large stake in the company.

Who is the Team Owner?

Major shares in the team are held by Sir Frank Williams who founded the company along with automotive engineer Sir Patrick Head. To date, Sir Frank is the Team Principal. The show is, however, mostly managed by his daughter, Claire Williams. If the owner Kleinman is talking about is the Williams family, then a lot may be at stake here.

A strategic review is a structured process to identify new value-creating opportunities within a business. These help organizations plan ahead and find responses to problems faced. Financial and other problems have plagued the team. A review will thus clarify many things.

The Grove outfit may not be performing as well as it once did, but it certainly has great potential. It has won nine constructors’ and sevens drivers’ championships since its establishment. The Briton team engaged various engine suppliers including Ford, Toyota, Renault, and BMW, to eventually settle with Mercedes in 2014. Some of Formula One’s most brilliant and reputed drivers such as Nelson Piquet, Ayrton Senna, and even current runner-up for the Drivers’ Title, Valterri Bottas have raced for Williams.

The team is now home to George Russell and Nicolas Latifi. However, with numerous budgetary constraints, the team has been finding it very difficult to compete with its deep-pocketed counterparts.

With FIA announcing new budgetary regulations that shall operate from 2021 onwards, there seems to be some light at the end of the tunnel for smaller teams like Rokit Williams. Alas, only time will tell if these regulations truly are beneficial. Or if they allow a chance for other teams to outperform giants like Ferrari, Mercedes, and Red Bull.

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