Unlike many of its rivals, Williams won't need to tighten its belt much as its costs came to $165.3 million (£132.3 million) last year according to its latest financial statements. Next year F1 will limit F1 team budgets to $145 million in a bid to level the playing field which has seen Mercedes take the title for the past six years running. The coronavirus prevented the F1 season from starting in March but it has got the green light to start next week in Austria and the source says that the "prize money is going to be down on the original forecast because Williams is going to be doing somewhere between 15 and 18 races rather than the 22 races on the original schedule." However, the source adds that Williams stuck to its plan to seek new investment now and there is good reason for this. The recent funding rounds ensure that Williams has enough money in the tank to keep its wheels turning into next year even if a transaction doesn't get over the finish line. Lazard is providing UK and German regulatory approval and is joined by Allen & Co, which recently advised on the sale of Ind圜ar and the Indianapolis Motor Speedway to Penske Corp. Penske (Chris Graythen/Getty Images) Getty Images The team has finished last in the constructors' championship each of the last three years, but enjoyed an upswing in form through 2020 as it regularly competed with Haas and Alfa Romeo.Williams is being advised by the same company which recently sold the Indianapolis Motor Speedway to. "Whilst we are just starting out on this journey and there is still a lot of work to do, we are happy to see momentum in the right direction and look forward to continuing that progress on track this season."īesides Capito, Williams has also been boosted by the return of 2009 world champion Jenson Button, who serves as an official advisor to the team he debuted with in 2000.
"Therefore, we have created a fresh new livery for the 2021 car one that acknowledges our incredible past and retains the spirit, drive and motivation that remains at the core of Williams' DNA yet looks to the future and signposts our long-term ambition to return to the front of the grid. "Highs and lows are typical in any long-established sporting brand's journey and historic success can be a strong motivator, but it cannot be relied upon to define future success in the modern era of Formula 1.
"Williams Racing is a sporting icon, and a team that has forged a reputation of success through sheer determination and grit intertwined with innovation, passionate and skillful race-craft and an absolute desire to win," Capito said. The exit of the Williams family led to Simon Roberts taking over as team principal, while former Volkswagen motorsport chief Jost Capito has joined as CEO.
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The livery is also accompanied by some yellow elements around the sidepods, bulkhead and front wing endplates.Ģ021 marks Williams' first full season since its takeover by American investment group Dorilton Capital in August, which led to an overhaul of its senior management team. Williams F1 completes FW43B shakedown at Silverstone.
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