The Williams Formula 1 Team has a long and successful history in Formula 1. In fact, Williams is the longest independent constructor currently participating in the series having first joined in the 1977 season.
Though they might be at the back of the pack in recent years, that wasn’t always the case. Back in the 80s and 90s, they were one of the most competitive teams in the grid. They even have a total of seven driver's and nine constructor’s championship titles under their belt.
Lately, however, things don’t seem too good for the Williams Formula 1 team. The team announced that revenues in 2019 declined greatly as compared to 2018. As a result, they recorded a GBP 13M (PHP 817M) loss in 2019 down from a profit of GBP 16M (PHP 1B) in the previous year. To make matters worse, they also announced that they have split with title sponsor Rokit and Rok Drinks.
Without any money, there is no racing. That said, Williams is now looking for ways to bring in much-needed funds to the team. Some of these include partially or completely selling the team. However, no official decision has been made just yet as it is still being discussed
“As part of this new strategic direction, the WGPH [Williams Grand Prix Holdings] board is undertaking a review of all the various strategic options available to the Company. Options being considered to include, but are not limited to, raising new capital for the business, divestment of a minority stake in WGPH, or a divestment of a majority stake in WGPH including a potential sale of the whole Company,” Williams said in a statement.
Though Williams is currently looking for our ways to inject fresh funds into the company, the constructor says they are still funded and ready to resume racing once the season begins later this year. However, expect their cars to look very differently given the lack of title sponsors.