Franck Williams has no intention of selling his team!

After the announcement of the sale of Williams F1’s capital to an Austrian investment company, Frank Williams wanted to put an end to the rumors as soon as possible. He does not wish to leave Formula 1 or relinquish control of his AT&T Williams F1 team through this operation.

Franck Williams announced in a press release on Friday that he had sold, along with Patrick Head, his engineering director, shares of Williams F1 to the Austrian businessman Christian Toto Wolff. The Englishman sought to reassure, stating that he had no intention of giving up his team or stepping away from Formula 1. He will remain the sole holder of the rights to sell the team in the future.

« I have no intention of stopping my involvement with this F1 team or selling all my shares. » comments the former F1 driver, now 67 years old.

« I couldn’t be clearer in saying that Toto is a minority shareholder. The team is still under my control, and I won’t let go until the day I leave… The idea is simply that I want to be able to financially benefit from my hard work at Williams for 40 years. I’ve never used a cent for myself. I would like to be able to reap some benefits and enjoy them. »

Franck Williams confirms that the team will not be affected by the purchase of shares in the company. On the contrary, it could open the door to new sponsors thanks to Toto Wolff’s numerous connections: « Nothing will change. Adam Parr, as our CEO, manages the company on a day-to-day basis. My only interest in the team is to find new sponsors. Patrick [Head] is also very involved in the matter. »

Of course, Toto Wolff has bought companies, made them prosper, and sold them. But he is still very useful and has a very good reputation for the team and our partners. I’m sure he will be useful in that regard.

Neither Franck Williams nor Wolff has officially provided figures on the shares sold or purchased. However, they are certainly understood to be between 10% and 49% of the capital of Williams F1 – which is enough to participate in strategic decisions.