Williams float timely as sponsors depart

Williams' Frankfurt floatation is apparently timely, with reports claiming the famous British team has lost 43 per cent of its sponsors. With an event in London on Wednesday, the team launched its 27 per cent stock market float set to begin on...

Williams' Frankfurt floatation is apparently timely, with reports claiming the famous British team has lost 43 per cent of its sponsors.

With an event in London on Wednesday, the team launched its 27 per cent stock market float set to begin on March 2.

In a statement issued beforehand, Williams said the share pricing values the business at EUR 265 million.

The statement said the team's "sponsorship is fully secured for 2011", with the floatation not designed to raise capital because "existing shareholders" - mainly Patrick Head - are selling up.

Bernie Ecclestone commented: "If I could buy shares in the company I would."

But a less rosy picture was painted by a report in the Evening Standard, claiming that "new data" shows that Williams' recent "sponsorship income has reversed".

The report said the 43 per cent reversal from 2010 is the team's "biggest in the past decade".

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About this article
Series Formula 1
Drivers Patrick Head , Bernie Ecclestone
Teams Williams