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 for the year ending 2019. After posting a £12.9 million profit in 2018, Williams have responded to the blow by seeking new investment.
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“The WGPH board believes that the strategic review and formal sale process is the right and prudent thing to do,” a Williams statement said.
The British-based team are yet to receive any formal approaches but confirmed “preliminary discussions” have taken place with possible investors.
