• Shares will start trading on stock exchange on 2 March
• Frank Williams to remain as the majority shareholder
The Williams Formula One team have confirmed they will go public to secure their long-term future as an independent concern. The British team said in a statement today that they expect their shares to start trading on the Frankfurt stock exchange on 2 March.
The team principal and founder, Frank Williams, said last month that the team opted for a stock market flotation after losing a number of sponsors in 2010. Williams will remain the majority and controlling shareholder.
Williams is F1’s third-most successful team after Ferrari and McLaren with seven drivers’ titles, nine constructors’ championships and 113 victories in 565 races. But the team’s last championship success came in 1997 and they have not won a grand prix since 2004. Williams finished sixth in the constructors’ championship last season.