Williams Racing gets approval to raise £150 million after significant losses
The Formula One team reported a loss of £84.2 million in its latest accounts.
Williams Racing has received permission to raise £150 million after reporting significant losses.
A resolution authorising the directors of Williams Grand Prix Engineering Limited to create and sell new shares worth up to £150 million was passed on October 11.
The directors can issue new shares until September 30, 2029, unless this permission is renewed, varied, or revoked before that date.
Williams Racing reported a loss of £84.2 million in its latest accounts, which is an increase of £66.3 million compared to the previous year's loss of £17.9 million.
The Grove-based team has acknowledged that it will need additional financial backing from its parent company to continue operations.
Related stories:
