Business of Sport Business of Sport Ep.37: Claire Williams, Fmr Deputy Team Principal @ Williams F1, 'We never wanted to sell the team'
This week we are delighted to welcome Claire Williams to the show. For nearly a decade, Claire served as the Deputy Team Principal of Williams Racing, one of the most iconic teams in F1 history. As the daughter of the legendary Sir Frank Williams, you could say she had the weight of her family’s legacy on her shoulders, but she forged her own path with courage, tenacity, and a relentless drive to succeed.
Claire's journey wasn’t just about steering a team through the competitive and challenging landscape of Formula 1. It was about breaking barriers in a male-dominated environment, changing the landscape of a sport in need of regeneration, and navigating the requirements to perform at the highest level while fighting to keep her family’s team alive.
On today’s show, we discuss:
Building a Formula One team:
- The Frank Williams story: how did he build on the most iconic teams in Formula One history?
- Work/life balance in the sport is very hard. You have to make sacrifices to become the best. What is the impact of dedicating yourself completely to the perseverance of perfection?
- How has racing changed over the years? From early beginnings to becoming one of the most sought after commercial and sponsorship assets in global sport.
- What are the key revenue streams that fund Formula One teams?
Taking the reigns:
- What was it that led to Claire taking the controls of the team and how did she go about implementing her own ideas in delivering success to Williams?
- The challenge of finding your own voice when the legacy of your predecessor is so prominent.
- The changing role of a Team Principal; how has the job developed and what are the modern TP’s like Toto Wolff and Christian Horner doing differently to the likes of Frank?
- The need for sponsorship dollars. Frank Williams turned down a $40m title sponsorship when he was in charge because he had another one for $50m. Did Claire have the same demand for access to the Williams brand?
- The F1 meritocracy celebrated and favoured the best teams while leaving the others struggling to fund themselves. How did this change?
The Business of a team:
- It is a very expensive sport to operate in. Are Formula One teams worthwhile and valuable investment opportunities?
- The mediafication of the sport has brought in a wealth of new opportunities for the key components to make money, but what do the teams get paid for and what goes straight to the F1 governing body?
- How much does it cost to pay drivers and the key members of staff that run the organisations?
- Value in kind deals can be an excellent way to drive value for new partners. What do these look like?
- The story around the sale of Williams and why it had to happen.
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