“Any Team Can Have Bad Years”- Claire Williams Defends Team Amidst Financial Troubles

The Williams F1 team announced, not more than a couple of days ago, that they were contemplating to sell the operation and seek investment. The team suffered a £13 million loss last year and the ongoing pandemic is only adding to their woes.

Claire Williams is Optimistic About the Future

Despite the financial shortfall and Williams’ recent failures, deputy team principal, Claire Williams, is hopeful of potential investment offers. She is confident that the team will pull through this season and that the Williams brand is attractive to potential investors. “We’re making this decision to source inward investment in order to help us achieve everything that we want to“, the team’s de-facto boss told the Guardian.

Williams’ notable history in F1 and its goodwill is perhaps what will be the biggest selling point for an investor. The team has won nine constructors’ and seven drivers’ titles in the 43 years of its establishment. “There’s a huge value in the Williams brand“, Claire said. “It is loved by sports fans both in and out of F1... I am sure that any investor would recognize that.”

Despite their history, the team has not been doing well for a while now. They finished at the back of the points table in the last two years and haven’t won a single race since 2012. Claire, however, believes that “any team can have two bad years and it’s what you do as a result of those two bad years and learn from your mistakes and pull yourself up. To say that Williams has been in a long-term spiral of decline is probably slightly exaggerated or erroneous.”

New Restraints on Budget

Smaller teams like Williams will have a better chance to win with new financial restraints in place from next year. A team will not be allowed to spend more than $145 million annually. While this cap will be fully enforced next season, F1 is looking to shake out the bugs of accounting for the costs this year. These regulations, however, are only applicable to expenditures relating to car performance. Marketing costs, race driver fees, and costs of the team’s three highest-paid personnel will not be included. Salary costs for staff on necessary leave will also be excluded. Even the costs of medical benefits provided to employees will not be subject to restraint.

Let’s hope that an iconic team like Williams isn’t forced off the grid.