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Williams may sell F1 team

Williams also announced on Friday that it had served notice to terminate its relationship with title partner ROKiT and major sponsor ROK Drinks

Williams said on Friday it was considering selling its once-dominant but now struggling Formula One team as part of a strategic review after the Williams Grand Prix Holdings (WGPH) group reported a loss of £13 million for the year ending 2019.

Williams also announced on Friday that it had served notice to terminate its relationship with title partner ROKiT and major sponsor ROK Drinks.

“The WGPH board is undertaking a review of all the various strategic options available to the company,” said a statement.

“Options being considered include, but are not limited to, raising new capital for the business, a divestment of a minority stake in WGPH or a divestment of a majority stake in WGPH including a potential sale of the whole company.”

The former champion, who last won a championship in 1997 with Jacques Villeneuve, has not won a race since 2012.

It finished last in 2019 with just one point scored by now-departed Polish driver Robert Kubica.

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Printable version | Jul 5, 2020 4:58:13 PM | https://www.thehindu.com/sport/other-sports/williams-may-sell-f1-team/article31705209.ece

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