Williams has announced it is looking at selling it’s F1 team after terminating it’s title sponsorship with ROKiT.
The news comes after financial figures revealed a £13m loss in 2019 having finished last in the standings with one point.
“The WGPH board is undertaking a review of all the various strategic options available to the Company,” said a statement from the team.
“Options being considered include, but are not limited to, raising new capital for the business, a divestment of a minority stake in WGPH, or a divestment of a majority stake in WGPH including a potential sale of the whole Company.
“The Company is not in receipt of any approaches at the time of this announcement and confirms that it is in preliminary discussions with a small number of parties regarding a potential investment in the Company.
“There can be no certainty that an offer will be made, nor as to the terms on which any offer will be made.
“The WGPH board reserves the right to alter or terminate the process at any time and if it does so it will make an announcement as appropriate.
“The WGPH board also reserves the right to reject any approach or terminate discussions with any interested party at any time.”
It also announced that its title sponsorship with ROKiT (which replaced Martini at the end of 2018) had been terminated.
The team is set reveal a new livery ahead of a potential start to the season this summer.