[Team] Williams: Do they have a spare tub?

[midgetman]

Ah. Really. And "Kate" is?

Sent from my SM-A520F using Tapatalk

[Greem]

The sister of someone who's married to an investment fund manager. Tsk, don't you know *anything*?

[GTRMagic]

Vettel to Williams?

[Moneyseeker]

Showing how quickley things change - CW in mid-2019..

"I'd just like to be really categoric about it: Williams is not for sale, I have no intention of putting Williams up for sale. I don't see why we would."

August 2020 - sold.

Apparenty 112m euros was realised from the sale after debts and liabilities - meaning they had around 45m euros of debt.

Quite a sobering stat in an article in the RACE - on Williams.

Claire Williams rails at the suggestion, but the team has been in decline. The first 21 years of the team yielded 103 wins and a combined total of 16 constructors’ and drivers’ titles – the next 22 years, just 11 wins (one in the last 15 seasons) and no titles. Despite some mini-revivals, such as the one at the start of the 1.6-litre V6 turbo hybrid era, this is undeniable.

[mark_l]

Originally Posted by Moneyseeker

Showing how quickley things change - CW in mid-2019..

"I'd just like to be really categoric about it: Williams is not for sale, I have no intention of putting Williams up for sale. I don't see why we would."

August 2020 - sold.

Apparenty 112m euros was realised from the sale after debts and liabilities - meaning they had around 45m euros of debt.

Quite a sobering stat in an article in the RACE - on Williams.

Claire Williams rails at the suggestion, but the team has been in decline. The first 21 years of the team yielded 103 wins and a combined total of 16 constructors’ and drivers’ titles – the next 22 years, just 11 wins (one in the last 15 seasons) and no titles. Despite some mini-revivals, such as the one at the start of the 1.6-litre V6 turbo hybrid era, this is undeniable.

Dorilton, through BCE Limited, have bought back the heritage car collection from the Latifi shareholders. That would explain a large part of the debt repayment.

[bjohnsonsmith]

Who are BCE Limited? I did some googling and came across BCE Fund Managers (MERSEYSIDE) Limited.

[wolfhound]

Originally Posted by bjohnsonsmith

Who are BCE Limited? I did some googling and came across BCE Fund Managers (MERSEYSIDE) Limited.

Some info in this video by Peter Windsor.


https://www.youtube.com/watch?v=N74a3hO0heQ

[bjohnsonsmith]

Originally Posted by wolfhound

Some info in this video by Peter Windsor.


https://www.youtube.com/watch?v=N74a3hO0heQ

Nothing though on BCE Limited.

[GTRMagic]

Originally Posted by bjohnsonsmith

Who are BCE Limited? I did some googling and came across BCE Fund Managers (MERSEYSIDE) Limited.

This?

[wolfhound]

Originally Posted by GTRMagic

This?

"Nature of Business ..... other engineering activities"


Finacial engineering?


My understanding was that BCE was New York based but cannot remember where I discovered that and that it was a subsidiary / associate of Dorilton.

[bjohnsonsmith]

Originally Posted by GTRMagic

This?

That's not much to go on.

[Armco Bender]

BCE....Bernard Charles Ecclestone....even a simple sheep farmer could work that one out..

[midgetman]

Originally Posted by Moneyseeker

Showing how quickley things change - CW in mid-2019..

"I'd just like to be really categoric about it: Williams is not for sale, I have no intention of putting Williams up for sale. I don't see why we would."

August 2020 - sold.

Apparenty 112m euros was realised from the sale after debts and liabilities - meaning they had around 45m euros of debt.

Although we hadn't seen a global pandemic at that stage which has changed the landscape.

It's not an awful lot of money in F1 terms is it? Less than half a season for the top teams. I wonder what the ongoing investment plans are? CW has been quoted as saying they have the budget for a year at least, so releasing funds from scheduled loan repayments must extend that.

Interesting that the first thing they do is pay off the loan secured on Heritage. Sounds like the action of a real enthusiast. What about the factory and the farm? Have those loans been cleared?



Sent from my SM-A520F using Tapatalk

[Greem]

The original press release said that the investment was made by a managed fund under Dorilton's portfolio called BCE Limited.

That's not a limited company - it's the name of an investment fund. The only nod to anyone is the initials, and there will be no public information about whose money is being managed as it's a private investment.

Yes, maybe Bernie is involved, I wouldn't be surprised at all if he is, but knowing him it'll all be smoke & mirrors and he'll be chuckling into his cornflakes every morning as the world tries to work out whether he is involved or not.

Gotta keep the brand in the public eye, even if you don't really have one!

[bjohnsonsmith]

Just supposing it was Bernie, would he really want to get involved with an ailing F1 team, particularly at his age?

[S griffin]

He probably would do anything to get out of nappy changing probably

[Richard C]

Originally Posted by bjohnsonsmith

Just supposing it was Bernie, would he really want to get involved with an ailing F1 team, particularly at his age?

How involved would he be? If "BCE" is his money, he can be as involved (on not) as he wants. My guess (again if true) he is focusing on his home life and this is just a way to keep involved (at a light level) plus help out a historic team/brand. He is extremely wealthy. At 89 what is he going to do with his money?

Richard

[bjohnsonsmith]

Originally Posted by Richard Casto

How involved would he be? If "BCE" is his money, he can be as involved (on not) as he wants. My guess (again if true) he is focusing on his home life and this is just a way to keep involved (at a light level) plus help out a historic team/brand. He is extremely wealthy. At 89 what is he going to do with his money?

Richard

Indeed, if "BCE' is his money, of course he can chose his level of involvement. He could even treat it as an expensive hobby, with all that money.

[P38 in workshop]

Originally Posted by bjohnsonsmith

Indeed, if "BCE' is his money, of course he can chose his level of involvement. He could even treat it as an expensive hobby, with all that money.

Who knows,he might propose that the constructors unite to secure a better deal from the CRH.....




I really hope he is involved as he has been much maligned and often unfairly,but he makes things happen and understands the whole business better than anybody.

[GT6]

Well this comes as a surprise to me, if the money is from bernie good on him, he did very well out of F1 and he certainly knows how it works, so if he gives something back it is good and to be honest F1 is getting a bit boring over the last few seasons so if he shakes things up a bit them that will be a good thing.

[billy bleach]

Looking on Google earth I reckon 1000 houses would fit on the site easily.....

[bjohnsonsmith]

Originally Posted by billy bleach

Looking on Google earth I reckon 1000 houses would fit on the site easily.....

1000? Looking at that first group of houses south of the factory and south of that building site, there are about 60 buildings.

[billy bleach]

Originally Posted by bjohnsonsmith

1000? Looking at that first group of houses south of the factory and south of that building site, there are about 60 buildings.

Ha I am not a surveyor so I will bow to your superior knowledge. Even so 60 house plot must be worth a fair bag of gold

[Casper]

I am a bit puzzled by all this so maybe someone can answer a few questions...

Who would have paid out the loans?

Was Williams engineering part of the deal?

Was Williams F1 part of the public company?

Perhaps the sale was a way of tidying up the family's financial affairs as Frank is getting on in years. It will be sad to see the day he passes as he was one of F1's real operators and managed to stay around long enough to see the rewards for his work.

[Moneyseeker]

Originally Posted by Casper

I am a bit puzzled by all this so maybe someone can answer a few questions...

Who would have paid out the loans?

Was Williams engineering part of the deal?

Was Williams F1 part of the public company?

Perhaps the sale was a way of tidying up the family's financial affairs as Frank is getting on in years. It will be sad to see the day he passes as he was one of F1's real operators and managed to stay around long enough to see the rewards for his work.

The loans were from Latifi and HSBC secured in the factory, heritage colection and F1 entry - so the info goes

Williams F1 only had a small stake left in WAE which was included in the sale.

Williams F1 is/was a public company

The sale was because Williams had run out of cash - the borrowing from Latifi, etc was to fund this year and early part of 2021 - this is why CW wanted a sale concluded in a few weeks, not years.