Mazepin "didn't hold any negotations" about buying Williams F1

Dmitry Mazepin, father of Formula 2 driver Nikita Mazepin, has not been in talks with Williams regarding a potential takeover, despite reports coming out the two sides sat down in Shanghai during the Chinese Grand Prix weekend.

Mazepin is the primary shareholder in Uralkali, a massive Russian chemical producer, as he possesses 20 percent of the company. He was already involved in a takeover last year, when Force India went into administration and needed new ownership to bail themselves out. Force India eventually got taken over by Canadian billionaire Lawrence Stroll.

One of Mazepin's demands with a takeover would be a seat for his son Nikita.

“The information that appeared in the media is untrue,” a Uralkali spokesperson told RaceFans.

Williams could be set for a year of financial difficulty, as revenues in Formula 1 are largely based on team performance. With last season's 10th place in the constructors' championship and this season's struggles, income could decrease in Grove.