Williams F1 Team: Claire Williams reportedly set to sell a major stake in her F1 Team, the club was already in a heavy financial crunch.
On Thursday, Sky News’ Mark Kleinman reported that Williams would be ready to sell off a major stake in their F1 team- Rokit Williams. The team for years has been facing a financial crunch.
Major shares in the team till date are held by Frank Williams who founded the company along with automotive engineer Patrick Head. Till date, Williams is the team principal but the outfit is mostly managed by her daughter Claire Williams.
Exclusive: The owner of the Williams F1 team is said to be preparing to launch a strategic review that could lead to the sale of a large stake in the company 43 years after it was founded. An announcement could come alongside the results of Williams Grand Prix Holdings tomorrow.
— Mark Kleinman (@MarkKleinmanSky) May 28, 2020
If Kleinmann is talking about Williams’ share getting off the table, then a lot of reforms can be expected. Currently, Rokit Williams has George Russel and Nicolas Latifi as their drivers.
The former is expected to join Mercedes in the near future. The budgetary constraints faced by Rokit Williams lately made them trail behind their deep-pocketed opponents.
Although 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.
If this report turns to be true, then the end of Williams would be a legacy in the F1, as it had its own days of glory and boasts a rich history, the English outfit has won nine constructors’ and sevens drivers’ championships since its establishment.
Also, it has launched or gave space to some of the most esteemed drivers in the history of F1, Nelson Piquet, Ayrton Senna, and even current runner-up for the Drivers’ Title, Valterri Bottas has raced for Williams.