Williams F1 team confirms plans to go public

BY foxsports • February 4, 2011

Formula One team Williams has confirmed it will go public to secure its long-term future as an independent team.

The British outfit said in a statement Friday that it expects its shares to start trading on the Frankfurt Stock Exchange on March 2.

Team principal and founder Frank Williams said last month that the team was opting to raise money on the stock market after losing a number of sponsors in 2010.

Williams will remain the majority and controlling shareholder.

F1's third-most successful team behind Ferrari and McLaren has seven drivers' titles, nine constructors' championships and 113 victories in 565 races. But Williams' last championship came in 1997 and it hasn't won a race since 2004. It finished sixth in the constructors' championship last season.

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