Williams F1 team-owner plots stake sale

Its eponymous F1 team enjoyed enormous on-track success in the 1980s and 1990s led by drivers including Nigel Mansell and Damon Hill, but it has struggled to compete in racing terms for well over a decade. It works with corporate clients including Tesco and Unilever, while it has also signed a joint venture agreement with Unipart to produce performance batteries for automotive applications. Gallery: Adidas and Puma and other family feuds that spawned successful companies (Lovemoney) Lazard, the investment bank, acts as Williams' long-standing corporate finance adviser although it has not yet been instructed to run a formal process on WAE. The F1 team has a title sponsorship deal with ROKiT, a telecommunications company, but commercial revenues on the racing side of its business have bee affected by its poor performance on the track. The company said in its most recent annual report that it expects more clarity in the near future about how F1's owner, Liberty Media, intends to reform the sport from a financial and technical perspective after 2021.

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