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29 May 2020, 07:47 (Ref:3979080) | #1401 | |
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Really???
Or simply that the current sponsor hasn’t been paying the invoices. Last edited by peebee2; 29 May 2020 at 07:55. |
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29 May 2020, 07:49 (Ref:3979081) | #1402 | ||
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Anyone want to buy a classic Williams? There'll be a few going.
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29 May 2020, 08:01 (Ref:3979083) | #1403 | ||
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Midgetman - known as Max Tyler to the world. MaxAttaq! |
29 May 2020, 08:07 (Ref:3979084) | #1404 | ||
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Quote:
And this was the Williams team that were desperate to get Rich Energy v1.0! Stinks of utter desperation and short-sightedness. |
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29 May 2020, 08:11 (Ref:3979086) | #1405 | ||
The Honourable Mallett
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I reckon we are now looking at some predatory investors waiting for the fire sale.
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29 May 2020, 08:40 (Ref:3979089) | #1406 | |
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I am not surprised this has happened, they can’t rely on sponsorship or even pay drivers anymore. They need a big money buyout to stay in F1. I’d hate to those Williams, ok I would hate to lose any team, but it would be really sad if Williams were to go. I just hope they sell to the right person so the team keeps going, just as long as it’s not a dodgy businessman who takes over. That could be worse
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29 May 2020, 08:44 (Ref:3979091) | #1407 | ||
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Hmmmm doesn’t sound good does it?
There have been rumours about Stroll buying Mercedes and selling Force India to Mazepin.....I wonder if it’s actually Stroll keeping Force India and Mazepin buying Williams.....where he tried to get his son a drive last year. Surely this means Russell to Mercedes and Bottas out too? |
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29 May 2020, 09:09 (Ref:3979094) | #1408 | ||
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Just how interested is Mr Latifi? he certainly has the money and he already has his foot through the door, for want of a better expression.
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29 May 2020, 09:13 (Ref:3979095) | #1409 | ||
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Laughable 15 years ago, but a clear demonstration of company management. |
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29 May 2020, 09:18 (Ref:3979096) | #1410 | |||
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As someone mentioned above, Latifi Sr isn’t a bad shout either. Problem with all these names is what’s their long term investment in teams once their sons have moved on? That worries me. |
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29 May 2020, 10:19 (Ref:3979110) | #1411 | ||
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Race +- 10 years in F1 and then move into managing the f1 team. |
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29 May 2020, 10:20 (Ref:3979112) | #1412 | |
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To me it suggest that Rokit has not paid a cent, and have been receiving a bunch of legal letters in the past months up till the point that Williams legal advicers have given the go ahead that it is safe for Williams to give notice to Rokit.
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29 May 2020, 10:26 (Ref:3979114) | #1413 | |
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Sadly that is also possible.
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29 May 2020, 10:37 (Ref:3979115) | #1414 | |
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Remember Nic Hamilton had to pull out of the BTCC last season due to Rokit withdrawing their sponsorship. So it wouldn’t surprise me if Rokit are having financial problems which means they can’t pay Williams
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He who dares wins! He who hesitates is lost! |
29 May 2020, 10:38 (Ref:3979117) | #1415 | |
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Or it was obvious they never had the money in the first place!
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29 May 2020, 11:39 (Ref:3979129) | #1416 | |
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This is really depressing but somewhat predictable. I almost home that f1 would go away for a few years and come back more sustainable. It should be massive business and have a capacity grid, not one missing 6 cars and about to be missing a load more. Obviously covid has triggered this, but it’s not like things were healthy beforehand.
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29 May 2020, 12:17 (Ref:3979139) | #1417 | |||
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Quote:
Last season in the BTCC, when DUO (another name on the F1 grid) withdrew from their deal with Nic Hamilton, it was Rokit who stepped up and plugged the gap for Knockhill. At the time, IIRC, there were questions about whether they could have supported the rest of the season, and it looks like they regrouped for a full season this year. If they are now unable to fulfil their agreement with Williams (and I'm sure we are just speculating), will it affect Rokit's other Motorsport presence? |
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29 May 2020, 15:36 (Ref:3979189) | #1418 | |
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https://www.autosport.com/f1/news/14...ment-by-summer
This is pretty much the end of Williams as we know it. The Grove-based outfit announced on Friday that it was beginning a strategic review of its operations to attract a financial injection that it believes will help secure it a brighter future in F1. While the formal process has only just begun, deputy team principal Claire Williams said the outfit did not intend to wait long before making a decision on what route it finally takes. Asked by Autosport as to when she expected the process to be concluded, Williams said: "We haven't put a timeframe on this process, but we want to complete it within the next three to four months. "We like to do things fast in F1 don't we? And we feel that we can achieve it in that timeframe. "But we are fully funded throughout the remainder of this year to continue racing as and when we can go back to the circuit. I presume that the funding they have for this year is from the loan from Latif secured on the remaining Williams assets. Irony is that Williams were in talks for sponsorship with Rich Energy before RE walked away for a 'better deal' with Haas and probably thought they had a narrow escape when they secured Rokit, only to see it end the same way. Great shame, but shows how tough it is these days. |
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29 May 2020, 15:40 (Ref:3979191) | #1419 | |
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Crazy times right now. It is just insane. Between Williams, McLaren and Mercedes. It's like an iceberg. The initial Williams trouble was maybe the tip. How large and deep does the iceberg go? What other news might pop up over the next few months. What topics of discussion are rumors and what is real? It's hard to believe.
Richard |
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29 May 2020, 15:47 (Ref:3979194) | #1420 | ||
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Except it was Duo who bailed not Rokit Infact Rokit bailed him out for Knockhill
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29 May 2020, 16:09 (Ref:3979204) | #1421 | |||
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29 May 2020, 16:45 (Ref:3979208) | #1422 | ||
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I am looking forward to the third series of Netflix’s “Drive to Survive” - no racing but lots going on behind the scenes if they have been able to capture it.
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29 May 2020, 16:45 (Ref:3979209) | #1423 | ||
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covid or not...i wonder how much more valuable F1 teams are now that the budget cap has been agreed upon?
this may seem counter intuitive but if one can now run a team in a sport where the TV and hosting fees combined are huge, with a more equal prize fund distribution while running an F1 team for under 145mil and still be competitive then even a team like Williams may start looking like a very lucrative purchase to the right buyers. obviously we dont know when racing (and racing in front of fans will start up again) but one has to assume (vaccine or not) that sports will return within the next year right? this thread questions whether or not Williams have a plan and me reading all the current speculation and it looks like their plan may earn them a sizable windfall from a sale? what is a team (even the least competitive one on the grid) worth post covid? lets say the new buyer will assume the corporation's liabilities with the purchase...a conservative estimate for the Williams' family equity is probably still a value over 100mil no? personally i think it will add to much more then that. anyways, i think we are seeing the culmination of a plan which will put a lot of money in someones pocket. |
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29 May 2020, 16:53 (Ref:3979215) | #1424 | ||
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Quote:
For example, I know of one wealthy club racer who contacted series officials where he has competed for years, to tell them he will not be racing should the season resume as his business has been wiped out by Covid-19. I suspect he will not be the last. The only plus point is borrowing has probably never been cheaper, but some firms are probably over leveraged already. If you are a shareholder or more or less anything you will get zip in dividends firstly over losses and them companies will focus on cash hoarding IMO. |
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29 May 2020, 17:13 (Ref:3979221) | #1425 | ||
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Secondly - the genie is out of the bottle - hosting fees of the like BE negotiated will never return, the number of countries that can unaccountably splash public cash around are not there. Look at Saudi, for example they are raising taxes to fill budget shortfalls. Forget big hosting fees, they are over. Thirdly - finally the circuits have realised that without venues FOM has no business - this will make new deals harder. IMO FOM will end up largely have to hire circuits and put on GP's themselves and sell tickets direct to fans Fourth - despite hiring loads of marketing staff FOM has signed virtually no significance new F1 sponsors - most you see are from BE's day. How many beers do we think Heineken has sold in locked down bars around Europe or watches Rolex has sold in boarded up stores? How long will they carry on? All of the above makes me think that earning any big money in F1 is going to get harder not easier. Not sure about the big windfull or Williams, the Latif loan was rumoured to be £50m for which Williams had to put up more or less all their remaining assets for collateral including the factory, plant, 100 classic F1 cars and the F1 entry, SFW owns 52% I believe, so we can assume from the above that his assets were valued at £50M, if Williams gets say £100M for the team - the other investors get more or less £50M - SFW gets £50M which is owed to Latif = 0 left surely? |
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