Jan.21 (GMM) Williams is considering a stock market floatation, the famous British team announced on Friday.

Sir Frank Williams said in a media statement that he has decided it is "prudent and necessary" to devise a new ownership structure so that the Grove based team can remain an "independent constructor".

He said the option of selling shares to the public is therefore being examined "closely".

"Regardless of whatever steps we take, I shall remain the majority and controlling shareholder and the team principal", announced Williams.

The team's chairman Adam Parr said the move would be "the best way to secure the future of the team" and its 450 employees.

He denied that Sir Frank is either retiring or in poor health.

"No. Frank's health is absolutely fine," insisted Parr.

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