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Frank Williams says he is not preparing to relinquish control of the Williams Formula One team despite selling a minority stake on Friday.
Williams and co-founder Patrick Head have been sole owners of the team since its creation in 1977, but now have agreed to sell an unspecified percentage of the team for an undisclosed amount to an investment firm headed by former racing driver Toto Wolff.
"I want to emphasize he is a minority shareholder and the company is still totally under my control," Williams said Friday in a conference call. "I have no intention of losing control of this company."
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