Williams Considers Selling Formula One Team

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 pounds ($15.9 million) for the year ending 2019. After posting a 12.9 million pounds 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.

"As part of this new strategic direction, the WGPH board is undertaking a review of all the various strategic options available to the company."