Nine-time winner of the Cup of designers of the Formula 1 team “Williams” in an effort to optimize its financial condition laid under a loan almost all his movable and immovable property.
Williams refinanced its debt with new loans from its main financial partner, HSBC Bank, reports Motorsport.
According to the Deputy team leader Claire Williams, the loan will allow the collective to provide themselves with “resources needed to move forward.”
From this we can conclude that the negotiations on the loans started even before the wide spread of coronavirus and compensation of the impact of the pandemic, the main purpose of obtaining a loan is not.
Providing loans have become the base of the team with its equipment, buildings and land and collection of historical race cars spanning more than 100 machines.
In refinancing liabilities Williams took part and Michael Latifi, father Nicolas Latifi, one of the pilots. One of the loans was issued on belonging Latifi senior company Latrus Racing.