Williams considers sale of struggling F1 team

By REUTERS | 29 May 2020

LONDON: Williams is considering a sale of its once-dominant but now struggling Formula One team as part of a new strategic direction, Williams Grand Prix Holdings (WGPH) said today.

The company published annual results showing Formula One revenue slid to £95.4 million (RM510mil) in 2019, down from £130.7 million (RM699mil) the previous year.

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

“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.”