Williams considers sale of struggling F1 team

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."