Williams set for 28pc Frankfurt stock float

Frank Williams desperate to keep team alive

(GMM) Williams' stock market floatation is close to being realized, according to an authoritative newspaper.

The British team announced recently that the option is being examined because it is the "best way to secure" its future.

A report in the Wall Street Journal this week said up to 28 per cent of the Oxfordshire based team will be floated on the Frankfurt Stock Exchange later this month.

Williams' new car for 2011, the FW33, features radically low rear packaging and a small gearbox, but it has failed to impress the Valencia test timesheets so far.

And the car's plain interim livery, and the fact that the race trucks and team uniforms are bare, have also raised concerns about Williams' financial health.

"We have a full budget for 2011," insisted technical director Sam Michael.

"The mechanics are wearing a basic uniform because we aren't launching the race livery until the end of February and don't want to ruin the surprise!" he said.