LONDON (Reuters) – Williams is considering a sale of its once-dominant but now struggling Formula One team as part of a new strategic direction, Williams Grand Prix Holdings (WGPH) said on Friday.
The company published annual results showing Formula One revenue slid to 95.4 million pounds ($117.6 million) in 2019, down from 130.7 million pounds the previous year.
“The WGPH board is undertaking a review of all the various strategic options available to the company,” it said.
“Options being considered include, but are not limited to, raising new capital for the business, a divestment of a minority stake in WGPH or a divestment of a majority stake in WGPH including a potential sale of the whole company.”
Reporting by Alan Baldwin; Editing by David Goodman