Williams float on the starting grid

Williams, the Formula One team, is considering a stock market flotation as part of plans to secure the future of one of motor racing's most successful ventures.

Adam Parr, the chairman of Williams, said yesterday that the business was now actively looking into a float. It was not seeking to raise new money, he said, and Sir Frank Williams, its founder, would remain the majority shareholder. The co-founder Patrick Head would also retain a major stake.

Sir Frank said: "It is my desire that the team is in good shape to go on racing long after I am gone. The option which will best achieve this is to broaden our shareholder base."