Ecclestone 'looking around' for a buyer for Williams
Former F1 supremo Bernie Ecclestone is helping the Williams family find a buyer for its Formula 1 team, insisting the British outfit's demise would be "a great loss" for the sport.
The steady decline over the past few years of Formula 1's third most successful team behind Ferrari and McLaren has been a sorry sight for Grand Prix racing's fans.
Last week, Williams Grand Prix Holdings reported a loss of £13 for its fiscal year 2019.
Coupled with the current crisis impacting F1 and the prospect of little revenue for 2020, the group's depressed financial situation has compelled its shareholders to put the team founded by Sir Frank Williams on the market.
And Ecclestone has stepped in to help Williams find a buyer.
"Williams would be a great loss, 100 percent," he told AFP. "I am looking around to find people who could and might be involved."
But the man who built F1 into the billion dollar sport and entertainment business it is today says that finding an investor could prove challenging in the current economic context.
"Owning a team is a very expensive hobby," said the 89-year-old former F1 boss who has been friends with Sir Frank for over 50 years.
"I hope it is not the end of the Williams team. It would be the end of an era but I hope that someone who can afford to run the team properly can be found as it is a terrible thing to lose a team like that.
"It is not thinkable. Dear old Frank had to work so hard to make sure the team competed and that happened and now to see it disappear like that, it's not good. It is a historic team."
"Unfortunately, the current management do not have the same status as Frank has. He could get things done."
Williams deputy team principal Claire Williams has ensured that the team has the budget to complete the truncated 2020 season, regardless of the number of races that will be organized this year.
Earlier this week, Formula 1 confirmed a basic calendar of eight European races which could constitute the 2020 F1 world championship if no other events can be added to the schedule.
"I said right at the beginning it is not a difficult job to get eight races together," said Ecclestone.
"COVID-19 is easing a bit round the world, but it is not coming to an end, so they will be able to get on maybe 12 races.
"Is that good? I really don't know whether it is good or bad unlocking everything as it could start again."
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