29 May 2020 1 Min Read
Williams considers sale of struggling F1 team
George Russell of Great Britain driving the Rokit Williams Racing FW42 Mercedes. With revenue falling, Williams is looking at selling its F1 team.
Image: Marco Canoniero/LightRocket via Getty Images
Image: Marco Canoniero/LightRocket via Getty Images
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Williams is considering the sale of its once-dominant but now struggling Formula One team as part of a new strategic direction, Williams Grand Prix Holdings (WGPH) said on Friday.
The company published annual results showing Formula One revenue slid to £95.4-million (roughly R2,051,108,640) in 2019, down from £130.7m (roughly R2,827,508,906) the previous year.
"The WGPH board is undertaking a review of all the 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."
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