QUOTE (jcbc3 @ Nov 20 2009, 14:32) 
Nope, he and Head DID pocket the money. SFW mentioned paying his mortgage and taking care of private issues.
Oh, cheers for that. Got a link to that report, the ones I've read are really sketchy on the detail.
Full Version: Williams sells stake in team
Oh, cheers for that. Got a link to that report, the ones I've read are really sketchy on the detail.
From Autosport interview:
QUOTE
Is it simply a change in ownership, or is it going to have a net capital boost for Williams to the degree that it can change the team's status?
FW: It's entirely for private motives. I've never taken a penny out in many decades and Patrick and I decided that it's time to take care of some other needs and pay a few bills - my mortgage, for example.
FW: It's entirely for private motives. I've never taken a penny out in many decades and Patrick and I decided that it's time to take care of some other needs and pay a few bills - my mortgage, for example.
Two massive 
momments in a row. Getting that wrong and then asking for a link that's on this site 
Cheers
momments in a row. Getting that wrong and then asking for a link that's on this site Cheers
Interview with Wolff now up too, he bought somewhere between 10 and 49% of the shares.
http://www.autosport.com/news/report.php/id/80255
Nice that Frank and Patrick get to take out some money at last, especially funny if you consider that doomsday dude (forgot his name) that was posting here over the winter about how Williams was on the verge of collapse and how they wouldn't make it to the 2009 grid.
http://www.autosport.com/news/report.php/id/80255
Nice that Frank and Patrick get to take out some money at last, especially funny if you consider that doomsday dude (forgot his name) that was posting here over the winter about how Williams was on the verge of collapse and how they wouldn't make it to the 2009 grid.
QUOTE (Dolph @ Nov 20 2009, 11:19)
Not everybody is a native speaker.
In recent years, we've become used to those born outside the UK generally being more proficient in English than those for whom it should be their first language!
Education, education, education. Fat chance!
QUOTE ( @ Nov 20 2009, 14:19)
The 37-year-old, a part-time racer and rally driver, purchased a stake in the team that will see him own between "10 and 49 per cent" of the Grove-based squad.
Wolff has been involved in the management of upcoming racing drivers and co-owns a management company with former world champion Mika Hakkinen.
His shareholding in HWA, the Mercedes arm in the DTM championship, will not be affected by any means by his new involvement, Wolff said.
The 2006 Austrian rally championship runner-up is the current record holder of the Nordschleife circuit and won the Dubai 24 Hours three years ago.
In 2004, he drove alongside Karl Wendlinger in the FIA GT championship and is engaged to Mercedes DTM driver Susie Stoddart.
Wolff has been involved in the management of upcoming racing drivers and co-owns a management company with former world champion Mika Hakkinen.
His shareholding in HWA, the Mercedes arm in the DTM championship, will not be affected by any means by his new involvement, Wolff said.
The 2006 Austrian rally championship runner-up is the current record holder of the Nordschleife circuit and won the Dubai 24 Hours three years ago.
In 2004, he drove alongside Karl Wendlinger in the FIA GT championship and is engaged to Mercedes DTM driver Susie Stoddart.
uuuu.... sounds like a great guy...
QUOTE (One @ Nov 20 2009, 15:17)
uuuu.... sounds like a great guy...
actually yes, why I suspect Frank & Co. decided to cash some in
good for all I think (hope)
QUOTE (JPW @ Nov 20 2009, 18:40)
Interview with Wolff now up too, he bought somewhere between 10 and 49% of the shares.
He should have given four options too while he was at it.
QUOTE (frp @ Nov 20 2009, 13:14)
In recent years, we've become used to those born outside the UK generally being more proficient in English than those for whom it should be their first language!
Education, education, education. Fat chance!
Education, education, education. Fat chance!
While I agree to some extent a lot of British people also talk in their native slang hence why it doesn't always come across as being able to spell so it isn't always the case of people not being educated enough, although to be fair a lot of kids are indeed butchering our lovely language.
Bravo to SFW and PH!! Seems they found a great asset, somebody with cash and a racer attitude. Good Luck to them!
Frank is obviously not in F1 for the money ... so selling to BMW makes no sense. Manufacturers have proven time and time again they are only it for commercial reasons and as soon as it doesn't make sense on a balance sheet or marketing program to continue.. they are out. Frank's ideology is simply not of that mindset and wouldn't sacrifice the team in that regard. Ferrari being the only exception but they hold a unique position in that regard.
That being said... both Frank and Patrick are moving on in years and as part of any governance of the team and strategy moving forward, it's important for them to start looking at the future and how to secure the Williams F1 Team Future when a changing of the guard will be required. It's probably going to be sooner then later where eventually Frank and Patrick simply become advisor's to Williams F1.
Jordan, Tyrell, Sauber all sold out and I have the impression that Williams is looking to find a suitable partner that may maintain the Williams name and keep the drive and passion that they both have for the 2nd generation of Williams F1.
Cudo's to Frank and Patrick for sticking to the beliefs and passion even if the F1 brand has been badly tarnished the passed few years.
That being said... both Frank and Patrick are moving on in years and as part of any governance of the team and strategy moving forward, it's important for them to start looking at the future and how to secure the Williams F1 Team Future when a changing of the guard will be required. It's probably going to be sooner then later where eventually Frank and Patrick simply become advisor's to Williams F1.
Jordan, Tyrell, Sauber all sold out and I have the impression that Williams is looking to find a suitable partner that may maintain the Williams name and keep the drive and passion that they both have for the 2nd generation of Williams F1.
Cudo's to Frank and Patrick for sticking to the beliefs and passion even if the F1 brand has been badly tarnished the passed few years.
So they wanted to cash in as they were getting long in the tooth, I think we all want to do that at some point, difference being our jobs tend not to be as interesting. I'd guess Frank more than paid off his mortgage 
I can see a brand new snazzy MP4-12C on the driveway with hand controls soon and Patrick fitting an eftermarket exhaust ...well done chaps, you deserve it.
Andy
I can see a brand new snazzy MP4-12C on the driveway with hand controls soon and Patrick fitting an eftermarket exhaust ...well done chaps, you deserve it. Andy
oh, another Wolf and Williams, sounds strangely familiar...
and who knew Susie Stoddart was divorced!
Care to take bets on how long before they get Mercedes engines ?
QUOTE (Berner @ Nov 20 2009, 16:10)
and who knew Susie Stoddart was divorced!
Part of the deal has GOT to be Susie in a Williams seat in 2011.....
QUOTE (gwk @ Nov 20 2009, 17:21)
Part of the deal has GOT to be Susie in a Williams seat in 2011.....
I would die happy.
QUOTE (DOF_power @ Nov 20 2009, 11:28)
So it won't be Frank Williams anymore.
What won't?
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