Phil H
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Williams F1 sold
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Saw him in the woods at the back of my house. He was walking his dog with his Mrs.
Sad day really, how the mighty have fallen. Great drivers drove for them, Jones, Rosberg, Mansell, Prost, Senna, Hill.
Zep
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Hold the phone, you saw Damon Hill dogging with his Mrs in the woods behind your house?
Phil H
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In the Latifi/Williams deal earlier this year it was reported that:
"Documents relating to the loan to Williams Grand Prix Engineering Ltd, which was finalised last week, do not give the exact amount that Williams has been loaned, but the accounts reveal that the historic cars - part of the package against which the loan is secured - are valued at £20 ($24.6m) whilst the land and buildings are valued at £30.7m ($37.7m).
The loan refinances a £40m facility agreed by HSBC in 2015 and which was also secured against the company's assets.
Included in the assets is the team's contract to race in F1, therefore, should Williams default Latifi, who in 2018 secured a 10% stake in McLaren for £203.1m ($249.8m), would have total control of Williams.
To put the £50m figure in perspective, it is less than half the $150m (£118.6m) budget cap the teams are currently squabbling over.
The loan, which is secured on the team’s historic car collection including many title winners, was furnished by the ubiquitous consortium, which is led by Latifi. However it is his Ontario-based Latrus Racing Corp that appears on the paperwork."
Frank is a very astute businessman, so I'm wondering if the family have managed to retain any of the assets that might otherwise have been at risk.
PH
"Documents relating to the loan to Williams Grand Prix Engineering Ltd, which was finalised last week, do not give the exact amount that Williams has been loaned, but the accounts reveal that the historic cars - part of the package against which the loan is secured - are valued at £20 ($24.6m) whilst the land and buildings are valued at £30.7m ($37.7m).
The loan refinances a £40m facility agreed by HSBC in 2015 and which was also secured against the company's assets.
Included in the assets is the team's contract to race in F1, therefore, should Williams default Latifi, who in 2018 secured a 10% stake in McLaren for £203.1m ($249.8m), would have total control of Williams.
To put the £50m figure in perspective, it is less than half the $150m (£118.6m) budget cap the teams are currently squabbling over.
The loan, which is secured on the team’s historic car collection including many title winners, was furnished by the ubiquitous consortium, which is led by Latifi. However it is his Ontario-based Latrus Racing Corp that appears on the paperwork."
Frank is a very astute businessman, so I'm wondering if the family have managed to retain any of the assets that might otherwise have been at risk.
PH
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Zep
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rossyl
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I'm happy.
Claire Williams has been a disaster.
Frank Williams is unable to release control.
For any business, that management structure is never going to work.
Zak Brown has done a great job at McLaren.
The PE Fund that have bought Williams have one sole objective, to make Williams worth more than what they bought it for.
Hopefully they have already got a good CEO in mind.
Claire Williams has been a disaster.
Frank Williams is unable to release control.
For any business, that management structure is never going to work.
Zak Brown has done a great job at McLaren.
The PE Fund that have bought Williams have one sole objective, to make Williams worth more than what they bought it for.
Hopefully they have already got a good CEO in mind.
Devonboy
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Me too - Claire has had her chance and its time to turn this business around
midlifecrisis
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Like Lance Stroll , Nicholas Latifi has a very rich daddy who has the ability to 'buy' him not only a drive (note Sofina Food Sponsorship on Williams) but a team. Unfortunately Michael Latifi bought 'into' McLaren so he'll have to sell his 9.84% (which cost him £200million) before he buys into Williams. Unless Nicholas jumps ship to McL but I doubt that would happen with Lando and Daniel Riciardo signed up for the next two years.
Andyk
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Be interesting to see how this works out for Geroge Russell as I would imagine they wouldn't want to lose him but he has a future if not with Williams with another team and with Toto Wolf as his manager I'm sure he will see to that. Could see him in Mercedes at some point in the future maybe.
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I'm surprised that Mercedes signed Bottas for another year and not George Russell. Lewis might be at his peak but it would be good succession planning.
Phil H
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Bottas is a solid performer and whilst he might not have Hamilton's edge he is a force to be reckoned with on the grid, and he has Hamilton's back. Mercedes has a winning formula with no need to change it - yet.
Here's an interesting thought though; what if Toto and his wife returned to Williams along with Bottas......
PH
Here's an interesting thought though; what if Toto and his wife returned to Williams along with Bottas......
PH
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True, Bottas is a number two, but with Mercedes' pursuit of progress it's an area that can be explored.