Williams sell minority stake

Williams sell minority stake#171382

By 7UpJordan - 20 Nov 09, 20:27

- 20 Nov 09, 20:27#171382

http://news.bbc.co.uk/sport1/hi/motorsp ... 370579.stm

Williams sell a minority stake in their F1 team

Williams insists he intends to remain fully involved in his team's set-up
Frank Williams has sold a minority stake in his multi-championship Formula 1 team, but insists he has no intention of relinquishing control of the outfit.

Williams and co-founder Patrick Head, who held 65% and 35% respectively prior to the sale, sold to an investment company led by Austrian Toto Wolff.

Wolff is a 37-year-old private equity investor with motor racing background.

"This is not the beginning of a progressive disposal of equity by the owners," said a spokesman.

Williams, whose team have won nine constructors' titles and seven drivers' championships since Williams Grand Prix Engineering was founded in 1977, said he simply felt the time had come to release some equity.

"I'm 67 and I'm not going to live forever," he said. "I've never taken any money out of the company. Time is getting on a little bit... but I have no intention of losing control of this company or ceasing my F1 activities."

Williams added that the sale would not change the day-to-day running of the team.

I believe this will be good for the team in the long term future, Sir Frank knows he won't be around forever but will stay in complete control until the day he can no longer continue.

It will help the team out financially as well, particularly if Wolff can bring in some sponsorship.

"And Mansell was lucky not to be taken off by that RIDICULOUS bit of driving by Alliot!!" - James Hunt
"AAAAAND into the pitlane..... OHHHHHHH!!!!!!!!!" - Murray Walker

Re: Williams sell minority stake#171386

By scotty - 20 Nov 09, 20:46

- 20 Nov 09, 20:46#171386

I'm not sure how much i like the ridiculously vague quote i read about his stake being 'between 10 and 49%'...

Rising number one of Formula 1, Juan - Juan, one wonders should Juan only win one Formula 1 one year, would Juan have won that one in round one, Juan??

Re: Williams sell minority stake#171387

By Frosty - 20 Nov 09, 20:46

- 20 Nov 09, 20:46#171387

Frank knows what is best!

Remember "competitive animals know no limits"

Re: Williams sell minority stake#171408

By Gaz - 20 Nov 09, 23:32

- 20 Nov 09, 23:32#171408

he's just trying to emulate what Mclaren did years and years and years go.

Which is get investment from others sources, Ron went to the UAE and Merc.

Re: Williams sell minority stake#171410

By texasmr2 - 20 Nov 09, 23:41

- 20 Nov 09, 23:41#171410

he's just trying to emulate what Mclaren did years and years and years go. Which is get investment from others sources, Ron went to the UAE and Merc.

Your GOOGLE knowledge is unpresidented :hehe:

, all must bow to the GOD that is McLaren, are you reading from the script that McLaren Fan wrote for you??

"Sanity and happiness are an impossible combination".
Mark Twain

Re: Williams sell minority stake#171411

By myownalias - 20 Nov 09, 23:42

- 20 Nov 09, 23:42#171411

I think it's probably a good thing for Williams F1 as they can't compete without additional investment and they will still remain independent which is important I believe!

myownalias • The Englishman in Kansas • Twitter: @myownalias

Re: Williams sell minority stake#171451

By Gaz - 21 Nov 09, 12:16

- 21 Nov 09, 12:16#171451

he's just trying to emulate what Mclaren did years and years and years go. Which is get investment from others sources, Ron went to the UAE and Merc.

Your GOOGLE knowledge is unpresidented , all must bow to the GOD that is McLaren, are you reading from the script that McLaren Fan wrote for you??

Whoa! calm down there granddad, don't want you to have a coronary

No my opinions are my own and my sources are Wikipidia and a Few Mclaren Books i own.

Needless to say tho i do believe I'm correct, Ron made the right decision to seek external investment and make Mclaren stable business it is today.

Williams have had the opportunity to do this with BMW for example but although Frank Williams traditional approach is noble and to be respected its not necessary the most stable for long term survivability.

Looks like He's doing it now though hopefully it will bring Williams the success of the 90's

Re: Williams sell minority stake#171483

By Juliet P - 21 Nov 09, 17:25

- 21 Nov 09, 17:25#171483

he's just trying to emulate what Mclaren did years and years and years go. Which is get investment from others sources, Ron went to the UAE and Merc.

Your GOOGLE knowledge is unpresidented , all must bow to the GOD that is McLaren, are you reading from the script that McLaren Fan wrote for you??

Who pulled your chain? :loopy: