This could be a wealthy individual who wishes to control a team in order to, say, have a seat available for a family member at some point in the future.The problem is that there are no real details available and it is not even clear where the company chosen by Dorilton for the takeover is based, as it does not appear to be in any of the obvious tax havens. The family is not named anywhere in Dorilton literature. This led to the decision earlier this year to look for someone to buy the team. Frank Williams originally ran a team using customer cars. Williams Grand Prix Engineering Limited, currently racing in Formula One as Williams Racing, is a British Formula One motor racing team and constructor.
(Reuters) - George Russell and Nicholas Latifi welcomed their Williams team’s change of ownership as a positive step that will help the former Formula One champions climb back up the competitive order. Autoweek participates in various affiliate marketing programs, which means we may get paid commissions on editorially chosen products purchased through our links to retailer sites.
Why has such a deal happened when it makes little sense?Sources in the finance community in the U.S. say that little is known about The speculation is that either someone is doing Williams a favor, or there is someone willing to invest in the long term but with a very specific purpose in mind. Jenson Button, Nico Rosberg, David Coulthard, Nico Hulkenberg and Valtteri Bottas all started their F1 careers at Williams. Overall it can only be positive.” Williams were founded in 1977 and are the third oldest and most successful constructor in Formula One history. Rookie Alexander Albon is the lowest-paid driver on the grid, while Robert Kubica is best-paid among drivers entering F1 in 2019 – albeit the Pole has plenty of F1 experience in the past, of course. This has baffled financiers who deal with F1. The details of the deal are also interesting.
With the Concorde Agreement completed, the team was able to announce that it (and its debts) had been sold for But the really interesting question is the identity of the buyer because Dorilton Capital Management LLC is a family office, representing the interests of a single ultra-high-net-worth family. The move for Latifi was a poorly kept secret within the F1 … They finished last overall in 2019 and are the only team yet to score points this season.
The company says it prefers to partner with existing managements but wants full control of the firms it buys into.It is a surprising deal in that the level of debt involved is considerable and earning that investment back—particularly in the current economic climate—is unlikely.
“I spoke with Matthew Savage this morning who is the chairman of the company (Dorilton),” said Briton Russell, whose career is backed by Williams’ engine supplier Mercedes. “It’s secured the future, the stability of the team which is first and foremost the most important thing,” Canadian Latifi, making his Formula One debut this season, told reporters via video conference at the Belgian Grand Prix on Thursday. This is described as “a fund which is managed by Dorilton Capital Management LLC.”In the F1 world, BCE means only one thing: Bernard Charles Ecclestone, a man with an interest in F1, a longtime friendship and supporter of Williams, a man with no shortage of money who likes to control anything he invests in.
... making his Formula One debut this season, told reporters via video conference at the Belgian Grand Prix on Thursday. The team was formed in 1977 after Frank Williams's two earlier unsuccessful F1 operations: Frank Williams …
Their poor form on track combined with the COVID-19 pandemic has taken a toll on their finances.
Williams drivers welcome team sale. Sale to U.S.-based investment firm helps Formula 1 team balance the books, but who's running the show?The Williams F1 team sale this past week to New York-based investment firm Dorilton Capital is providing more than a little intrigue to Formula 1 insiders.The recent lack of on-track success—the team finished 10th in the F1 Constructors' Championship last year and has yet to score a point in 2020—has weakened the team and it found itself with increasing debt and decreasing revenues.
They enjoyed their heyday in the 1980s and 90s but haven’t won a championship since 1997 with Jacques Villeneuve or a race since Pastor Maldonado’s triumph at the 2012 Spanish Grand Prix. This content is created and maintained by a third party, and imported onto this page to help users provide their email addresses. History.
The following year Williams were constructors’ champions for the first time and Alan Jones claimed the drivers… The Grove-based team announced their sale to U.S.-based Dorilton Capital last week, marking the end of an era for the family-owned outfit. Williams Martini Racing is delighted to announce Robert Kubica will complete the team’s driver line-up for 2019, partnering George Russell in the 2019 FIA Formula One World Championship.
Dorilton have said they intend to continue with the Williams name. He also sought to acquire Force India a couple of years ago, when Lawrence Stroll bought the team.Mazepin has been funding the career of his son Nikita, currently racing in Formula 2, and is the force behind Hitech Grand Prix, through a Cyprus-based holding company.No one involved is going to give straight answers given that the intention is clearly to hide the ownership, but that will not stop the questions being asked in the weeks ahead.That process will begin at Spa this weekend when Williams deputy team principal Claire Williams is sure to be grilled about who it is she now works for.
“In terms of what changes do I think need to be made, I think that’s more for them to decide. The management structure of the team, currently run by deputy team principal Claire Williams, daughter of the outfit’s 78-year-old co-founder and team principal Frank Williams, could undergo a change. Our Driver Academy is aimed at giving drivers …
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