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Tag Archive | "Sir Frank Williams"

SHOCK: ADAM PARR LEAVES WILLIAMS F1

Monday, March 26, 2012

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DAM PARR TO LEAVE WILLIAMS GRAND PRIX HOLDINGS PLC 26 March 2012. Grove, UK. Williams Grand Prix Holdings PLC (WGPH, Ticker: WGF1) today announced that its Chairman Adam Parr has resigned from the Company. Adam will leave Williams on Friday 30 March 2012. Nick Rose, ex-CFO of Diageo PLC and currently a Non-Executive Director of WGPH and [...]

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WANNA OWN AN F1 TEAM ?

Saturday, January 22, 2011

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Sir Frank Williams has moved to secure the long term future of Williams F1 with a plan to float the company on the stock exchange. In a statement released by the company overnight (Australian time) Sir Frank said that he had been considering how to secure the long-term ownership of Williams so that it will remain true to the aims with which it was originally established in 1977. “My goal then was to race in Formula One as an independent Constructor. This was and is my great passion and I will race for as long as I continue to be blessed with good health." he said. "It is also my desire that the team is in good shape to go on racing long after I am gone. To that end, it is prudent and necessary to plan for an ownership structure that will enable Williams to be an independent Constructor, owned and staffed by people committed to Formula One and to the sound business practices which have supported us over three decades." Although no firm decision has been made as yet, it is clear that this is something of a kite flying exersise by Williams to gauge support for such a  float.

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FORMULA ONE: PUT A CAP ON IT ?

Friday, May 1, 2009

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FORMULA ONE: PUT A CAP ON IT ?

The FIA has announced Formula One's sweeping new financial changes at The World Motorsport Council. Most notably, the FIA has introduced a £40 million 'budget cap' program to guarantee the future of current teams, while creating financial intensives to entice potential new teams into Formula One. The penny pinching goes so far as to also include the banning of re-fuelling and tyre warmers for the 2010 Championship.     While not compulsory, those teams who do sign up to the program will receive numerous technical freedoms. These include unlimited wind tunnel testing and pre-season track time, along with movable front and rear wings as well as their engines being free of rev-limits. FIA President Max Mosely is quoted as saying “I think they may find it attractive because like everybody else they need to save money. They've got to think of their shareholders' money, and not just spend like in the old days.”    Supporter of the concept of a budget cap, Sir Frank Williams, has raised concerns over the optional implementation of the initiative. “We would like to see all the teams operating to one set of regulations and under a budget cap in 2010 and that is the position we will be advocating within FOTA when we meet next week”. The Q&A media release on the FIA's website, stated that “There is one set of technical regulations and as always there are choices for all teams as to how they decide to attack the championships,”

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