Hello and welcome to F1Minute for the 21st January.
Williams F1 issued a statement today confirming that the team are thinking about the possibility of floating the company on the stock market. The statement was simply that the team are considering the idea, rather than anything being in place just yet, but it did come as a bit of a surprise. Frank Williams has always been fiercely independent, but he did say that this idea is partly to do with keeping the team in good shape after his tenure at the top ends.
Chairman of the team Adam Parr was on hand to answer questions about the potential flotation, and he was keen to dispel any concerns that Frank was in ill health or planning to retire, and also that the team were having financial difficulties. He said: “It’s very important to state that we are not, as a company, seeking to raise funds. This would not, if it goes ahead, involve any new equity or fund-raising. The company is in good financial health.” He added that the team have recorded a profit for the last three years, so the move is more about structure and stability than cold, hard, cash.
Filed under F1Minute
References Frank Williams
Previous story Tony Fernandes opens up on Twitter about Lotus
Next story Team versus Group Lotus trial set for March
Popular news stories
365 F1 stories