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JOHNNYBET

Lowe to become Williams shareholder

NEWS STORY
01/02/2017

Though currently tending his garden, former Mercedes technical boss Paddy Lowe is set to join Williams in a senior role as a shareholder.

Neither the Grove outfit or the man himself is saying anything at present, but according to reports the Briton will join Williams on March 1 as a director, with overall control of the technical side of the entire Williams group which includes not only the iconic F1 team but also Williams Advanced Engineering.

Though the move has been the subject of speculation for some time, it was early last month that Mercedes announced the Briton's departure having helped the team to win three successive drivers' and constructors' titles.

With Frank Williams holding 51% of the team's shares, co-founder Sir Patrick Head 9%, an employee fund 4%, US businessman Brad Hollinger 15% and 21% listed on the Frankfurt stock exchange, it is unclear exactly where Lowe's allocation will come from. As it happens, it was only last March that (Mercedes boss) Toto Wolff sold his remaining 5% stock in the Grove team, the Austrian having sold 10% to Hollinger in 2014.

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