Formula One team Williams has reported a significantly enhanced set of results for its 2015 financial year and has joined other participants in calling for a more even distribution of revenues in the motor racing championship.
Claire Williams, the deputy team principal and commercial director of the Williams F1 team, writes exclusively for SportBusiness International about the changing face of the sport.
Formula One motor racing team Williams has reported a loss of £42.5m (€58.9m/$63.4m) for 2014, but has signalled its recent revival in fortunes will result in a significant improvement next year.
American healthcare entrepreneur Brad Hollinger has increased his interest in the Williams Formula One motor racing team to 10 per cent after exercising an option to buy more of the stake held by Toto Wolff, executive director of business at rival outfit Mercedes.
Toto Wolff, executive director of business for Formula One front-runners Mercedes, has begun the process of reducing his interest in rival team Williams by agreeing a deal to sell a stake of his shares in the British outfit to American healthcare entrepreneur Brad Hollinger.