The Formula 1 season has just commenced and with the roaring engines on the track looking to finish the year on a high, interests in the sport have reached new heights, even on the business front.
It is reported that Russian business tycoon Dmitry Mazepin is interested in taking over UK based Formula 1 team – Williams Martini Racing, with initial talks already held at the Chinese Grand Prix.
Billionaire Dmitry was apparently at the Shanghai International Circuit and spoke to the representatives at Williams, for a potential takeover of the staggering Formula 1 Team, according to Motorsport.com’s Italian operation.
Mazepin is the father of Formula Two driver Nikita, who earned the promotion with ART last year. The owner of fertilizer producer Uralchem was reported to have approached the UK based outfit last month for the first time.
As reported by Motorsport.com, it was speculated that the business tycoon was interested in contributing to his son’s career through a potential involvement with Williams, but later understood that Dmitry was focused on actually acquiring a controlling stake in the team.
Belarus-born Dmitry’s interest in the Formula 1 team was also confirmed by Russian news agency Tass.
Mazepin had also shown interest in buying the Force India team, that failed when the later eventually did a deal with a consortium led by Lawrence Stroll, father of Formula 1 driver Lance.
After his failed attempts to purchase Force India, Dmitry launched legal proceedings against the administrators of the team, claiming the sales process to be “flawed”.
Williams is the only team this year yet to register a single point and are in a performance crisis after finishing last in Formula 1’s constructor championship last year. Team driver George Russell has admitted that the Williams team has found an elemental problem in this year’s car, suggesting that fresh investment could help bring the once successful racing team back on track.
Williams will be looking to get a crucial first point at the Azerbaijan Grand Prix on 28th April.