Grove (dpa) - The traditional Formula 1 racing team Williams is for sale. As the Williams Grand Prix Holding announced, management is seriously considering this move due to ongoing financial problems in the coronavirus crisis.
Another reason for this measure is violent financial losses in the 2019 financial year. In addition, the contract with main sponsor ROKiT was surprisingly terminated. After an extension in the previous year, this would have been valid until 2023.
An "evaluation of all strategic options" is currently taking place, it said in a message. Accordingly, both a sale of shares or the complete sale of the former world champion team are possible. The leadership around deputy boss Claire Williams had vigorously ruled out this step in the previous season. According to Williams, initial discussions with potential buyers have already taken place.
In terms of sport, the third-oldest Formula 1 team has experienced a dramatic downturn in recent years and has recently only followed. Under the leadership of Frank Williams, the racing team based in Grove, England celebrated nine wins in the constructors' championship and seven driver titles. The last Williams champion was the Canadian Jacques Villeneuve in 1997. Damon Hill and Nigel Mansell also won titles for the English.
Williams Formula 1 team
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