Williams F1 team considers flotation

Williams F1, the third largest team ever in formula 1, is success reflects a list in order to guarantee the property "long-term" society and maintain independence.

The company was founded in 1977 by Sir Frank Williams and Patrick Head and dominated hockey in the 1980s and 1990s through drivers such as Nigel Mansell, Alain Prost and Damon Hill. She won nine constructors and titles of seven drivers behind Ferrari and McLaren.

However, the last of these securities was in 1997 and it last won a race in 2004, with Williams, research increasingly difficult to compete with larger rivals spending.

Under proposed flotation proposals existing shareholders sell Williams in their actions. It is understood that Sir Frank has on the company, with Mr Head 25pc and investor 65pc Austrian Toto Wolff 10pc. Mr. Williams, Director of the team, plans to retain a majority stake. This would be the first formula 1 team in the list on the stock market.

Sir Frank, 68, said: "in recent years I have considered how to secure long term of the Williams property as it will remain faithful to the objectives with which Patrick and I team established in 1977.".

"I have concluded that option which will be better this goal is to expand our base of shareholders with public shareholders, while having a stable core of closely involved in the operation of the team of long-term investors." It would ensure stability, good governance and, I believe, will allow us to attract and retain the best and partners.

"Patrick, Toto et moi sommes so consider this option closely and, if the environment is favourable, we can do in the near future."

In 2009, Williams posted a profit before tax of £ 4. 5 m and 108 million revenues of £.

The company was hit last year by the Royal Bank of Scotland, ending a sponsorship contract is worth approximately 10 million pounds per year team, originally agreed by Sir Fred Goodwin, former Chief Executive and Motorsports fan.

However, Adam Parr, Williams, President said the company, which employs 450 people from its base in Oxfordshire, made a profit in 2010.

View the original article here

This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.