Getty ImagesCanadian businessman Michael Latifi has emerged as the frontrunner to acquire the struggling Williams Racing Formula One team, according to Italy’s Gazzetta dello Sport newspaper. Last month the cash-strapped British racing outfit announced they were seeking fresh investment and beginning a ‘formal sale process’ after amassing significant losses, confirming ‘preliminary discussions’ with potential investors. Gazzetta dello Sport reports that Latifi, whose son Nicholas drives for Williams, is ready to fork out €135 million (US$151 million) to purchase the team, which was founded by owner Sir Frank Williams in 1977. Earlier this year, Latifi reportedly loaned Williams €22 million (US$24. 7 million) through his Latrus Racing company in order to help them survive the coronavirus pandemic, while his Sofina Foods firm is also a sponsor of the team. Planet F1 reports that Russian billionaire Dmitry Mazepin, whose son Nikita competes in Formula Two, is another potential buyer for Williams having previously failed in his attempted takeover of Force India - now Racing Point - in 2018.
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