Williams F1 listed on the Frankfurt Stock Exchange
The American economic newspaper Wall Street Journal announces today that the Williams team is preparing to go public with 28% of its capital. The idea had already been mentioned recently by the team’s officials. Indeed, the team based in Grove, Great Britain, whose finances are sometimes a source of doubt and concern, will participate in […]
The American economic newspaper Wall Street Journal announces today that the Williams team is preparing to go public with 28% of its capital.
The idea had already been mentioned recently by the team’s officials. Indeed, the team based in Grove, Great Britain, whose finances are sometimes a source of doubt and concern, will participate in the 2011 Formula 1 World Championship having lost significant sponsors. The contracts tying Sir Frank Williams’ team with these sponsors were set to last until the end of the 2010 season and have not been renewed.
According to the Wall Street Journal, the team’s IPO is imminent, with shares expected to be launched at the end of February. This news is rather reassuring regarding the financial health of the team, especially when considering the signing of a major sponsorship contract with the Venezuelan oil company PDVSA, a sponsor brought by the new Williams driver, Pastor Maldonado.
No worries then for the 2011 budget of the team, a budget that the technical director of the team, Sam Michael, describes as “complete for 2011.” It remains to be seen if the results will follow this year for the British team, which has already won nine Constructors’ World Championship titles in the past.
