Williams Grand Prix Holdings is considering sale of F1 team after revenue from the sport slid to 95.4 million pounds from 130.7 million pounds the previous year.
Image for representation (Reuters Photo)
HIGHLIGHTS
- Williams considers sale of F1 team after dwindling revnue
- Williams Grand Prix Holdings said it is considering sale of ‘whole company’
- Divestment of a minority stake in WGPH is also being considered
Williams is considering a 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 pounds ($117.6 million) in 2019, down from 130.7 million pounds the previous year.
“The WGPH board is undertaking a review of all the various 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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