Formula One motor racing team Williams is thought to be considering putting itself up for sale.
The company posted losses of £13 million last year and the aim is to secure the team’s future through internal investment.
Sir Frank Williams, who is now 78, is no longer involved in the day to day running of the team.
Formula One is hoping to start a shortened season at the beginning of July in Austria.
The company said in a statement that they were considering “various strategic options… including but not limited to raising new capital for the business, a divestment of a minority stake in Williams Grand Prix Holdings, or a divestment of a majority stake in WGPH including a potential sale of the whole company”.
It said the company was “not in receipt of any approaches at the time of this announcement” but said it was “in preliminary discussions with a small number of parties regarding a potential investment”.
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