If I owned stock in Williams, I'd be selling...

Very interesting!

However, for all his faults, Coughlan has proven to be one of the better designers over the years (even without Ferrari data! - So please lets not go there again.)

I'm not too surprised about Tomlinson, but Sam leaving is a shocker to me - I always figured he was Franks right hand man and part of the woodwork there.

I suspect there's more to this than has been said - Particularly as they're staying thru the end of the season rather than going on gardening leave.

Cheers,
Ian

 

Partick Head is supposed to be on his way out at the end of 2011 as well...
http://www.autosport.com/news/report.php/id/91085

Going public may just be the last gasp "pump and dump" effort of a once great team....

 

Apparently, he was always set to retire at the end of this season - Also from Autosport;

I do hope not! I think Frank still wants it - He doesn't know anything else and still seems "driven" to me.

Cheers,
Ian
http://www.autosport.com/news/report.php/id/91086

 

Yeah, I agree, I hope not too, but FW has not looked all that healthy over the past few years and with PH leaving, his fire may just go out. Better to monitize the asset while you still can, then to wait until it slowly loses all value....

 

It doesn't matter how you package it up, the only way to make a small fortune racing is to start with a large one.

 

+1

Good quote !

 

While a good quote, it used to be *very* different - At least in F1 - Frank is the case in point, But EJ, even Ron Dennis & many, many others have done *extremely* well out of "Bernie's F1" - Say what you want about the Evil Pygmy, but he's made a lot of people very, very wealthy.

Furthermore, when times are good at least, the successful owners/entrants in GP2, F3 and even FF can make serious $ from pay drivers - We used to joke that only Brazilians could afford a (competitive) British F3 drive.

Not trying to argue btw, just another perspective

Cheers.
Ian

 

He has done his time, so good on him/them I say.

Besides I blame Mosley, F1 was rotten and corrupt from the top down at the time.

 

With insight, I think that Frank Williams and Patrick Head made a huge mistake by not accepting BMW's offer to buy their team outright a few years back when the Bavarian firm wanted to launch its own F1 outfit.
Stubbornly Frank Williams wanted to stay independent, but the team has been declining ever since; not that the BMW association was very fruitful either.

At least, they would have sold their team at the crest of a wave, and to an interested party, probably for a lot of money.

Never mind what would have happened to the team later (the Sauber venture went sour too in the end), at least they would have made a bundle and have a good retirement egg to live on.

Williams GP's fortune since hasn't be very bright, (a bit like Tyrrell faded away in its time), and getting worse year by year. The effort to float the shares now hasn't been met with huge enthusiasm on the ... German stock market, and soon there will be not much to trade.

Sad to see a team slipping away, but that's life in F1.

 

Williams have been going backwards since Sam has been in charge. I'm surprised it has taken this long to get rid of him.

 

Ouch!.... Obviously not a Sam fan....

[He's a countryman of yours, correct?]

Apparently, Adam Parr (CEO) also offered his resignation - Frank declined, blah, blah.....

I wonder if anyone's looking to buy a truly great F1 team right now?

Cheers,
Ian

 

Sorry, did you run the numbers on the IPO day to see just how much Patrick pulled in from that share float? He nor his children need to work a day of their lives again. As far as Head is concerned, I'd bet he did MUCH better than he would have under the BMW offer.

Frank has, I'm sure, salted away more than a few million over the years also - as was said above, nearly everyone running teams F1 for the past 20 years, certainly 10 years, has done extremely well with Bernie. EJ's not hurting, Ross Brawn and Nick Fry certainly aren't hurting, etc. etc.

I do agree that it's a bit sad to see Williams so far down compared to their glory days. Sam hasn't delivered in his term as Technical Director, and Patrick Head appears to have run out of new ideas about 10 years ago...

 

I thought they did quite well last year, quite a surprise given their humble powerplant. This year was about where I thought they'd be in 2010.The current design reminds me of the last great Brabham effort with de Angelis, obviously hope they don't suffer similar consequences.

 

It's neither fanhood or hatred. He took over in 2004 and they've started going backwards since day 1.

 

Frank has been down before. I hope he has one more comeback left.

 

Yeah, that last 'great effort' with the roller skate, um, sucked?
They did little after 1984, IIRC.

I thought Patrick Head was pretty-much 'retired' already?

Anyway, yeah, once a great team, but we have countless 'great teams' that no longer exist, they all come and go, only Ferrari, and to a certain extent McLaren have been around 'a long time', all the other teams are relative newbies.
Williams started with March chassis, they were largely irrelevant until the late 70's.

F1 is what it is, Cooper is gone, Brabham, Lotus, Tyrrell, Hesketh, Fittipaldi, Copersucar, the list is HUGE, even if bought out and renamed they are not the same.

 

In this economy, with the money it takes to be competitive, I would be surprised. Hopeful, but surprised.

 

As will I.

 

Bout time Michael left, the guy is not a proven winner and they have a has-been and a never-been/will be driving for them. Harsh but true.

Not a real shocker to see them slipping down the grid...

 

There are no comebacks left. These days, to win, you got to spend near as makes no difference HALF A BILLION USD/year in order to have a slight chance at the podium. With all the cost-cutting and rules upon rules, the top teams still spend 450+ M a year for a chance at the point.

No one is going to put that money into Williams who have been going backwards since 2004. Williams have been fighting off receivership for the past three seasons and really, they owe far more than they are worth.

 

Can anyone remember what BMW valued the team for back when they made the offer to buy. I recall Eddie Jordan back then saying Frank would be crazy not to take the money.

 

+100. These are my thoughts exactly.

I saw it happen with Brabham, Tyrrell, Lotus...

Once a great team starts to fall down the order, its a very slippery slope...

Williams put their pride before their future... to be competitive you've got to have VERY deep pockets from a huge sponsor or manufacturer. Frank and Patrick are HUGELY independent and like to have the control to call their own shots...

Williams didn't want to give up control and this hindered their growth and they started falling back through the order...

I admire their independence, but you could see this coming years ago...

Sad to see...

Frank

 

Considering teams like Midland sold for 100mm+ a couple of years back, Williams would have sold for at LEAST 250mm.

'in hindsight'...