Former Formula 1 owner Bernie Ecclestone has said it would be a “terrible loss” for F1 if it were to lose the Williams F1 Team, which recently announced it is exploring options to raise funds.
The British-based outfit has been majority family-owned since it was founded by Sir Frank Williams and Sir Patrick Head in 1977.
However with Frank stepping down in 2012 as his health continued to deteriorate, his daughter Claire Williams was installed as team boss, but the team’s fortunes haven’t recovered.
Last week the team announced it had put itself up for sale, but would also be exploring other ways of raising funds, such as a partial sale.
Ecclestone says he is actively looking for a buyer for the team to ensure it can continue.
“I’m trying to find people who could be involved but having a team is an expensive hobby,” he told news agency AFP.
“It would be the end of an era, but I hope that someone can be found who can lead the team properly. Because it would be terrible to lose such a team. It is not a good thing, it is a historic team.”
The 89-year-old also criticised the current management and cited the loss of Frank’s leadership as a reason behind the team’s struggles.
“Poor old Frank worked so hard that his team could be there. And it is not a good thing that it could disappear now.
“Unfortunately, the current management does not have the same status as Frank. He could handle things.”