While mischievous factions within F1 last week suggested BCE denoted ‘Bernard (Charles) Ecclestone’ and linked F1’s former ringmaster to the sale, insiders immediately scotched such suggestions, and thus they were ignored by RaceFans. The final choice was BCE Limited, owned by New York-based Dorilton Capital Management LLC. Williams said the buyers are “people who understand the sport”Where the Force India ‘sale’ was messy from its forced start to hurried finish, with legal processes and arbitration hearings still ongoing, the Williams transaction was packaged neatly and tidily: Review processes preceded due diligence, during which time potential bidders were vetted until a shortlist of five eventuated. According to various parties – including Haas – Racing Point should have no rights to historical revenues on account of effectively being a new company. In terms of F1’s covenants, that meant the pink team had no automatic right of entry, which necessitated an emergency ‘new team process’. Racing Point acquired only the assets of the team fronted by the flamboyant Vijay Mallya and did not acquire the operation as a going concern. While a considerable amount of goodwill is attached to the Williams name, the real jewels are a fully-fledged racecar construction factory and the right to F1 entry.Īlthough the sale of Williams is the second F1 transaction in as many years – the last being that of Force India in August 2018 – the latest deal contrasts markedly in every significant aspect from that sale. The sellers had another ace to play: The verdict handed down by the stewards in the Renault versus Racing Point matter triggered renewed determination at FIA level to preserve the independent team model rather permitting widespread ‘photocopy engineering’.
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