LONDON, Friday - Williams revealed on Friday that they are considering selling the Formula One team after a multi-million pound drop in the company's financial results. The William Grand Prix Holdings group reported an adjusted loss of £13 million ($15.9 million) for the year ending 2019.
After posting a £12.9 million profit in 2018, Williams have responded to the blow by seeking new investment. A minority or majority stake will be offered to investors, along with the option for an outright buy-out.
"The WGPH board believes that the strategic review and formal sale process is the right and prudent thing to do in order to take time to consider a full range of options and put the Formula One team in the best possible position for the future," a Williams statement said. – AFP
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