[Team] Williams: Do they have a plan?

[peebee2]

Originally Posted by Moneyseeker

“My dad’s never taken a penny out of the team over the years. I wanted to ensure he had something to show for his legacy.” [/I]

Lol, of course he hasn’t.

And let’s not forget when BCE gave the team owners £10m. The owners, not the team.

[billy bleach]

Originally Posted by Moneyseeker

Interesting piece on Claire Williams and the sale of Williams.

https://www.planetf1.com/news/claire...ancial-stress/

Williams said two elements were behind the decision. “The first was saving the team,” she said. “When I say saving the team, I mean ensuring people had the security of their job, that the team existed or survived for their benefit.”

The second reason was personal. “I wanted to make sure my dad came out of it with money to show for his work – not that he would have cared,” she said.

“My dad’s never taken a penny out of the team over the years. I wanted to ensure he had something to show for his legacy.

What? How is this possible? How has he lived?!! Also I bet La Clare cannot say the same......

[Adam43]

Obviously money to live.

Whatever, I believe the sentiment that Frank’s priority was more for the team than his personal bank account is correct.

Claire’s priority seems to be more to look after her family. Fair enough too.

And we get to judge this and pick at what they say on the internet. We’re all maximizing our priorities. Everyone wins.

[peebee2]

I don’t object to someone taking money out a business they founded and ran. Obviously they need funds to pay for their life.

But to deny it seems a bit silly and childish.

[chillibowl]

for me as an outsider watching the sport for decades, i havent seen anything to suggest that SFW took more from F1 then he contributed to it.

personally i wish there were more SFW's in the sport.

[Adam43]

Originally Posted by peebee2

I don’t object to someone taking money out a business they founded and ran. Obviously they need funds to pay for their life.

But to deny it seems a bit silly and childish.

Thing is, yes technically you can read that from the quote, but to do so misses the point. We all know what it meant and they aren’t denying anything really.

[S griffin]

Originally Posted by chillibowl

for me as an outsider watching the sport for decades, i havent seen anything to suggest that SFW took more from F1 then he contributed to it.

personally i wish there were more SFW's in the sport.

So do I. A real racer to the end, who cared more about success than money

[billy bleach]

Originally Posted by S griffin

So do I. A real racer to the end, who cared more about success than money

Indeed entirely proper and was a team to be reckoned with when Sir Frank and Patrick were in charge

[Moneyseeker]

Originally Posted by peebee2

I don’t object to someone taking money out a business they founded and ran. Obviously they need funds to pay for their life.

But to deny it seems a bit silly and childish.

I think we need to put this into the circles that team owners live and mix in. CW is not meaning that SFW didn't 'earn' any money out of Williams IMO, I think she means that Williams didn't live the multi millionaire lifestyle with superyachts and Ferraris - SFW did have a private jet at one time and sold it to invest more in the team. In effect for the Williams family, the 'pot' was the team and it would have run dry without investors or buyers.

Sure, they will all have nice houses and trappings over and above us ordinary mortals, but I doubt any of them have lived extravagantly.

I think that is was Claire means by those comments.

[Moneyseeker]

Originally Posted by Adam43

Obviously money to live.

Whatever, I believe the sentiment that Frank’s priority was more for the team than his personal bank account is correct.

Claire’s priority seems to be more to look after her family. Fair enough too.

And we get to judge this and pick at what they say on the internet. We’re all maximizing our priorities. Everyone wins.

I believe part of the reason for the floatation was that PH could retire and exit with his funds and it also released funds for SFW's long term care as required.

[bjohnsonsmith]

Originally Posted by Moneyseeker

I think we need to put this into the circles that team owners live and mix in. CW is not meaning that SFW didn't 'earn' any money out of Williams IMO, I think she means that Williams didn't live the multi millionaire lifestyle with superyachts and Ferraris - SFW did have a private jet at one time and sold it to invest more in the team. In effect for the Williams family, the 'pot' was the team and it would have run dry without investors or buyers.

Sure, they will all have nice houses and trappings over and above us ordinary mortals, but I doubt any of them have lived extravagantly.

I think that is was Claire means by those comments.

Even with new sponsors coming and going it did run dry.

[chillibowl]

Originally Posted by Moneyseeker

I think we need to put this into the circles that team owners live and mix in. CW is not meaning that SFW didn't 'earn' any money out of Williams IMO, I think she means that Williams didn't live the multi millionaire lifestyle with superyachts and Ferraris - SFW did have a private jet at one time and sold it to invest more in the team. In effect for the Williams family, the 'pot' was the team and it would have run dry without investors or buyers.

Sure, they will all have nice houses and trappings over and above us ordinary mortals, but I doubt any of them have lived extravagantly.

I think that is was Claire means by those comments.

exactly.

Mallya would be an example of the other way to approach it...squandered a family fortune on himself and those ridiculously stupid haircuts of his!

[peebee2]

Originally Posted by Moneyseeker

I believe part of the reason for the floatation was that PH could retire and exit with his funds and it also released funds for SFW's long term care as required.

Exactly.

They floated off part of the company on the Borse specifically to take millions out of the value of the business!

[VIVA GT]

I've just read on the Autosport website that Jenson Button has signed a 'multi-year agreement with the team to become a senior advisor'. Quite what such a role entails I have no idea so will be interested to see what changes are made that are attributed to his input.

[S griffin]

Williams have done it in the past. They had Wurz in an advisory role once. Good to have JB on board, he can hopefully pass on his experience to the drivers and help the team grow