SPEED_Staff_GMM's avatar
Author:
SPEED Staff / GMM
 
Rate this article:
  • 0/5 Stars
  • Related Photos
  • Related Videos
SPEEDtv.com Store
Check Out the New NASCAR on SPEED Online Store
Enter Code 10SPEED at checkout for an additional 10% discount (including clearance items).
Our Price: Visit the Store
Visit Button
Buy Button
DVD: David Jefferies Story
The David Jefferies Story is a reminder of the much loved and much missed Yorkshireman.
Our Price: $24.95
Visit Button
Buy Button
Man-Made Thunder
The book examines the sport of stock car racing through the eyes and ears of the men behind the wheel and the wrenches.
Our Price: $49.00
Visit Button
Buy Button
Unisex Sandwich Cap
Unisex Velcro back hat with SPEED logo on front. PINKS logo embroidered on left and PAO logo on right. One size fits all.
Our Price: $24.95
Visit Button
Buy Button
Speedway T-shirt
Men's 6 oz. 100% Cotton Jersey Short Sleeve Tee. SPEED logo imprinted on the front center chest.
Our Price: $24.99
Visit Button
Buy Button
Footer Bg
  • Zoom More Photos Button
  • Camera Icon
F1: Williams Insists Nothing Changes
Written by: SPEED Staff / GMM   
11/22/2009
GMM Newswire
 
Sir Frank Williams insists he has sold a minor portion of his Grove based team to pay some bills rather than wind down his involvement in Formula One.
Sir Frank Williams has co-owned the team with Patrick Head since its inception in 1977 and insists that will not change despite bringing on an investor. (Photo: LAT Photographic) ยป More Photos

The independent British team, historically owned only by 67-year-old Williams and Patrick Head since its inception in 1977, announced this week that investors led by Austrian entrepreneur Tito Wolff, 37, have bought an undisclosed share.

"It is explicit that this is not the beginning of a progressive disposal of equity in the business by the owners," a team spokesman is quoted as saying in a Reuters news report.

Williams, who since 1986 has been confined to a wheelchair after a road car accident, said the decision does not indicate he wants to step back, but did refer to his advancing years.

"I'm not getting any younger," he said in an interview posted on the team's official website.

"I have no intention of losing control of this
company or ceasing any of my Formula One activities, but I would prefer to be prepared for when Patrick and I are not here and not to leave it until the last minute," Williams added.

Asked how the move will affect Williams, he answered: "Nothing changes. I will continue with my role. Patrick and I are here everyday and we will continue to be so. I have no desire at this time in my life to want to stop work.

"The sale is entirely for private motives. Patrick and I have never taken a penny out of the business in four decades and it's time I paid a few bills!" said Williams.

He said Wolff will attend occasional board meetings but will probably have no role in sporting matters.

Williams added: "If he has an interesting opinion, he will certainly be listened to, of course."
View All Comments