Williams puts F1 team up for sale, ends ROKiT sponsorship immediately
Williams, one of the oldest and most successful teams in Formula 1 history has been placed up for sale.
Parent company Williams Grand Prix Holdings (WGPH) announced the decision in the wake of a £13m loss last year. A statement from the company positioned the potential sale as one avenue being explored: “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 team is still under the majority ownership of Sir Frank Williams who holds a 51 per cent stake, although day-to-day leadership of the company has passed to his daughter Claire. Co-founder Sir Patrick Head also continues to hold a 9.3 per cent stake.
Also announced today was the ending of Williams's title-sponsorship deal with phone company ROKiT. The deal, which had only begun last season, had been set to run until 2023, but was cancelled with immediate effect today. As a result Williams will run in a different livery at the expected first round in Austra to the red-white-and-blue one used in testing.
First competing in 1977 and dominant in the 1980s and 1990s, Williams won titles with Alan Jones, Keke Rosberg, Nelson Piquet, Nigel Mansell, Alain Prost and Damon Hill and will be competing in the 2020 Championship when it resumes.