Post by blacktulip on Jan 22, 2011 9:41:20 GMT
Williams is considering floating on the stock market, the team has revealed, in a bid to ensure its long-term future as an independent constructor.
The Grove-based squad stressed that it was not looking into the possibility of selling shares to the public as a way of raising additional funds, with team co-owner Frank Williams instead saying such a route would “ensure stability, good governance and…enable us to attract and retain the best people and partners”.
“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 and I established the team back in 1977,” Williams said in a statement.
“My goal then was to race in Formula 1 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 Formula 1 and to the sound business practices which have supported us over three decades
The Grove-based squad stressed that it was not looking into the possibility of selling shares to the public as a way of raising additional funds, with team co-owner Frank Williams instead saying such a route would “ensure stability, good governance and…enable us to attract and retain the best people and partners”.
“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 and I established the team back in 1977,” Williams said in a statement.
“My goal then was to race in Formula 1 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 Formula 1 and to the sound business practices which have supported us over three decades