Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Retirement not on the agenda for Frank Williams

Published 28/04/2015, 10:11
© Reuters. Frank Williams, founder of the Williams Formula One team, arrives at the paddock before the first practice session of Singapore F1 Grand Prix

By Alan Baldwin

LONDON (Reuters) - Frank Williams has no plans to retire from the Formula One team he founded in 1977 and is under no pressure to do so, his daughter Claire has said.

Now 73, Williams has been quadriplegic and in a wheelchair since a road accident in southern France in 1986. The Briton spent some time in hospital last year for treatment to a pressure sore.

"Frank is team principal. Always has been and always will be until we find him one day face down on the desk," said Claire, the deputy team principal.

"Frank is in there 24/7, he's in the office more than any of us. He loves it, he's passionate about it but he has a management team in place that he trusts to run the business," she added.

"But Frank is there, he will always be and has no plans to retire. It wouldn't be the same without him."

Williams, winners of nine constructors' and seven drivers' titles between 1980 and 1997, are fighting their way back to the top after a decade of decline and finished third overall last season.

They are currently third after four races this season, behind champions Mercedes and Ferrari who operate on significantly greater budgets.

Frank Williams still attends races, although not all, and keeps a close eye on business dealings and sponsorship even if Claire has taken on more such responsibility.

She said improved performance on the track had led to an increase in the team's rate card although Williams remained more flexible than some rivals.

She denied however that they had undersold themselves to attract partners at a time when all teams are struggling to secure sponsorship and some are fighting to survive.

"We are more flexible in our approach than certain other teams, but that's not to say that we ever undersell ourselves," she said.

"There's commentary that (title sponsor) Martini may have been undersold. Well, no. Not at all. We can't do that because we can't afford to do that."

Claire said some partnerships had also moved away from visibility on the car and were increasingly focussed on other elements such as advanced engineering projects, 'thought leadership' and education.

© Reuters. Frank Williams, founder of the Williams Formula One team, arrives at the paddock before the first practice session of Singapore F1 Grand Prix

"You can look at a Manor (car) and it's got nothing on it. And you could say 'the health of Formula One is on the wane.' But actually, what else are we all doing behind the scenes?," she asked.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.