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  • 3 months later...

Williams considering selling Formula 1 team

 

Williams is considering a partial or even full sale of the Formula 1 team as part of a new strategic direction aimed at securing its future.

On the back of increased financial pressures caused by the coronavirus pandemic, the Grove-based outfit said on Friday that one option it is looking at is a sale – with it beginning a process to look for interested parties.

A statement from the team said: “The WGPH board is undertaking a review of all the various strategic options available to the Company. 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.

“Whilst no decisions have been made regarding the optimal outcome yet, to facilitate discussions with interested parties, the Company announces the commencement of a "formal sale process.”

Williams has appointed joint financial advisers to assist in its review and find parties who could be interested in investment or a takeover.

The outfit said that it had not had any discussions yet about being bought, but there had been talks regarding investment opportunities.

“The Company is not in receipt of any approaches at the time of this announcement and confirms that it is in preliminary discussions with a small number of parties regarding a potential investment in the Company,” it added.

“There can be no certainty that an offer will be made, nor as to the terms on which any offer will be made. The WGPH board reserves the right to alter or terminate the process at any time and if it does so it will make an announcement as appropriate.

"The WGPH board also reserves the right to reject any approach or terminate discussions with any interested party at any time.”

The announcement about the team’s strategic review comes as the Williams group revealed its 2019 financial figures, which resulted in a loss of £13 million – compared to a profit of £12.9 million the previous year.

Group revenue declined to £160.2m in 2019, from £176.5m in 2018. Its F1 revenue declined to £95.4 million from £130.7m in 2018, with losses of £10.1 million compared to a profit of £16 million the previous year.

Williams terminates ROKit deal

Chief executive officer Mike O’Driscoll said the fall in income was a result of a big hit in commercial rights income because of its lack of competitiveness.

O’Driscoll also revealed the team had served notice to terminate its title sponsorship deal with ROKit, who had been due to run until the end of 2023.

A subsequent tweet from the team confirmed that termination of the deal was effective immediately.

“The financial results for 2019 reflect the recent decline in competitiveness of the F1 operation and the consequent reduction in commercial rights income” said O’Driscoll.

“The 2020 Formula 1 season has, of course, been disrupted due to the COVID-19 pandemic, and this will have an impact on our commercial rights income this year.

"The Team have also served notice to terminate its relationship with its title partner, ROKiT, and major sponsor, ROK Drinks. In common with many other businesses, we have taken extensive action to mitigate, including a prolonged furlough period for much of our staff.

"As this awful global crisis recedes, everyone at Williams Racing is looking forward to the start of the new season.”

 

https://www.motorsport.com/f1/news/williams-considering-selling-team/4798066/

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Krenule neke glasine da bi Eklston mogao da uleti u Vilijams????

 

Mada, ne lici mi to na njega, on je poznat po tome da gleda da izvuce sto vise novca a ne da u bilo sta ulozi svoje pare bez garancije da ce mu se visestruko vratiti.

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Wolff takes another stake in Williams

 

Toto Wolff is not only team boss of Mercedes, but the Austrian is also busy with all kinds of other things, including investments. He already invested in Aston Martin and now he's also taken a five percent stake in Williams. This would be a first step to secure later steps should Wolff want to take a larger stake in the team.

 

Loose since 2016

Toto Wolff was previously involved with Williams, but in 2016 he sold all his shares of the team. Now he's rejoining the team, which announced last week that it would be open for a full sale because they're in financial dire straits. According to journalist Peter Windsor, with this first step, Wolff would secure priority to take over the entire team if he wanted to.

 

This is not specifically about five percent of the shares, but about a guarantee that he will get priority over buying the actual shares. Windsor on Twitter: "Good to see that Mercedes' Toto Wolff yesterday bought back a five per cent shareholding in WilliamsF1. The team could be heading in the right direction for the first time in a while..," after which Windsor nuances it.

"Toto's five percent stake in WilliamsF1: Merc point out that it is a Security and thus technically not a "buy-back". A Security is "a first-priority Interest in favour of the Security Agent in respect of all of the shares in such Owner". Make of that what you will." Whether it will come to a larger investment is still to be seen, but with this move Wolff now has lines with three teams in Formula 1. After all, he also owns shares of the Mercedes Formula 1 team.

https://www.gpblog.com/en/news/60590/wolff-takes-another-stake-in-williams.html

 

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Ovogodisnji Fors / RP je kopija proslogodisnjeg Mercedesa ofarbana u roze, dogodine ce se to zvati Aston Martin a i tu Toto odnedavno ima neke svoje pare. Mozda njegov ulazak / povratak u Vilijams takodje donese i Vilijamsu set planova za proslogodisnji Mercedesov bolid?

 

Ne dopada mi se ideja o vise timova pod istom (ili slicnom) vlasnickom kapom, nije mi se dopadala kad je Red Bul to zapoceo, ni kad je Hasu Dalara pravila bolid po Ferarijevom dizajnu, i nisam i dalje promenio misljenje.

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  • 3 weeks later...

Sofina je Latifijeva firma. Acronis su Rusi, ali softveraši ne naftaši, Ponos gejmeri. Lavazza... Sve firme ok

 

Treći milijarder iz Kanade koji finansira Williams je Sylvan Adams

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Sylvan Adams is backing the Israeli test driver, Roy Nissany...

The 61-year-old Jewish property tycoon, isn’t here because of a long-held passion for motor racing. He’s flying the flag for Israel and aims to see it on a Formula 1 grid sooner rather than later.

Four years ago, he moved from Canada to Tel Aviv and became an Israeli citizen. Since then he’s been such an advocate for the country that he’s printed business cards that  describe him as “self-ambassador at large for Israel”.

“The idea of seeing the Israeli flag on the car and Roy being beamed to 350m to 400m television viewers every couple of weeks is going to be quite something,” he says.

“My projects are reaching over the media to reach people, regular people and just show them the country and say, ‘look there we are this is what we are – in a rough neighbourhood – a very open, tolerant democratic society and we do interesting things.”

 

Edited by alpiner
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On 6/26/2020 at 8:43 PM, Duh sa sekirom said:

Lepo izgleda, još samo da je i brz...

 

Boje izgledaju kao "jbg, posle svega nemamo nikakvu inspiraciju". Ali bas me briga ako bude iole brz. 

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  • 3 weeks later...

Znam na koje misliš, valjda si stariji od mene. Ja sam prvu trku celu gledao, ni manje ni više, Imola 1994, sa 11 godina.

Plakao sam kao kiša.

Već tad sam mrzeo Šumahera.

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