Williams has enough funds to carry on in 2020
Forbes said that, despite the fact that the historical English stable is up to be sold, the team seems to have enough money to attend the 2020 season, that is going to start soon on the 5th of July.
According to Forbes, Williams, despite the fact that is going to sell the team during the next years, will race this 2020 season that is going to start soon on the 5th of July.
Due to the epidemic of Coronavirus that spread all around the world in the last months, even the Formula 1 teams went through a very difficult period because of the economic damages caused by the decision to cancel many races.
If the main teams like Mercedes, Ferrari and Red Bull went through this period without too many difficulties, smaller teams like Williams, that was already in economic difficulty, was forced to consider the idea to sell the team.
Because of that, Williams announced last month that they were discussing a “formal sale process” and that they were considering the “sale of the whole company”.
Despite these statements, Forbes explained that Williams is going to have enough money to compete in this 2020 season, even if the team is under negotiations to be sold.
Always according to Forbes, Williams however already sold the 75% stake in its Advanced Engineering division, and which applies the team’s F1 knowhow to other industries. This slice of shares was sold for $56.2m (£45m) in December 2019.
Another important step tooke place a few months later, when the father of the driver Latifi, Michael Latifi, led a consortium that gave Williams an important cash injection of $45m (£35m).
Of course, the help from Michael Latifi arrived because of the presence of his son Nicholas as the driver of Williams alongside with George Russell. The two young drivers will race for the team in the season that is goinf to start in ten days.
In addition to this, Michael Latifi is considered the most valuable candidate to buy Williams, even if he owns the 10% fo the shares of another F1 stable, McLaren.
The market value of Williams is reported to be around 120m euro (£106m), and as a small team the budget cap that will be part of the regulations from 2021 should help the stable under an economic point of view.
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