Williams is considering a sale of its once-dominant but now struggling Formula One team as part of a new strategic direction, Williams Grand Prix Holdings (WGPH) said on Friday.
The company published annual results showing WGPH's Formula One revenue slid to £95.4 million ($117.6 million) in 2019, down from £130.7 million the previous year. With the coronavirus pandemic already impacting revenues this year and an announcement that the team has served notice to terminate its deal with title sponsor ROKiT, Williams confirmed it was undergoing a strategic review that could include a sale.
"The WGPH board is undertaking a review of all the various strategic options available to the company," a statement said.