Formula One boss Bernie Ecclestone ushered team managers into his trailer at the Indianapolis Motor Speedway. Nearby, mechanics tended to an array of million-dollar racing cars.
The owner of the Williams Formula One racing team opted for a stock-market listing in Frankfurt instead of the U.K. because of the London Stock Exchange’s “ludicrous” disclosure rules, the Sunday Telegraph reported.
The Formula One championship will begin in Australia next month after Bahrain called off the season-opening race because of anti-government protests in the Gulf state.
Williams Grand Prix Holdings Plc said profit from its Formula One business rose 28 percent to 5.8 million pounds ($9.5 million) last year on cost cuts. Sales fell 16 percent to 91 million pounds.
Williams Grand Prix Holding Plc retreated in Frankfurt after its 60 million-euro ($83 million) initial public offering, the first time a Formula One motor sport team has sold shares to the public.
"There's a strong case that an unequal division of power and money to a subset of teams is unlawful."
- Adam Parr on Dec 11, 2012