Williams consider market flotation

Williams Formula One team, one of the oldest outfits on the grid at 34, are considering a stock market flotation, but veteran founder Frank Williams will retain his majority stake.

Williams, whose legion of star drivers have included the likes of Nigel Mansell, Damon Hill and Ayrton Senna, have been without a world title since 1997 and a race win since 2004.

“For some years I have been considering how to secure the long-term ownership of Williams such that it will remain true to the aims with which Patrick (Head) and I established the team back in 1977,” said Sir Frank in a statement.

“My goal then was to race in Formula One as an independent constructor. This was and is my great passion and I will race for as long as I continue to be blessed with good health.

“It is also my desire that the team is in good shape to go on racing long after I am gone.

“To that end, it is prudent and necessary to plan for an ownership structure that will enable Williams to be an independent constructor, owned and staffed by people committed to F1 and to the sound business practices which have supported us over three decades.

“I have concluded that the option which will best achieve this is to broaden our shareholder base with public shareholders, while having a stable core of long-term investors closely involved in the running of the team.

“Regardless of whatever steps we take, I shall remain the majority and controlling shareholder.”