WilliamsF1 at the crossroads?
Even though F1-nut.com is usually focused on traditional Formula 1 books, it doesn’t mean that other F1 related publications aren’t worth taking a look at, even if they are mundane annual reports. WilliamsF1 latest 2019 annual report makes sobering reading £16m loss and £30m in deferred income. The news that the team is now looking for buyers of a minority or even majority stake in the team means this once dominant team is well and truly up against it despite the fact they’ve been using the Mercedes power unit for the past few seasons.
The sale of its revenue generating Advanced Engineering business and termination of 2020 title sponsor Rokit (unpaid sponsorship of £10m), seems to suggest what’s left of the WilliamsF1 team is on life support unfortunately. History has shown that any team that sits on P10 in the championship for too long eventually needs to exit for financial reasons.
Even its other famous historical rival McLaren’s Q12020 report is painful to read. Mclaren had to sell 3 of their heritage race cars to raise £5.6m (I hope none of the Senna MP4s!). If you look at WilliamsF1’s 2019 financial statements (pg 42), they’ve also done the same in 2019 and 2018!
If you’re a diecast collector, the perverse outcome is the value of Williams licensed F1 diecast cars are actually fetching better resale values. The classic heritage Williams championship cars FW07B, FW08, FW11B, FW12B. Even the Maldonado FW35 and Bottas F37 & FW38 Minichamps models sell for decent prices.
Minichamps FW08 recently sold for €450
I hope the Williams name doesn’t disappear from the F1 grid but it’s certainly possible that the team will join the ranks of former great teams like Lotus, Tyrrell and Brabham in F1’s archives.
