Formula One team Williams has confirmed it will go public to secure its long-term future as an independent team.

The British outfit said in a statement yesterday that it expects its shares to start trading on the Frankfurt Stock Exchange on March 2.

Team principal and founder Frank Williams said last month that it opted for a stock market flotation after losing a number of sponsors in 2010.

Williams will remain the majority and controlling shareholder.

Williams is F1’s third-most successful team after Ferrari and McLaren with seven drivers’ titles, nine constructors’ championships and 113 victories in 565 races. But its last championship came in 1997 and it hasn’t won a Grand Prix since 2004. It finished sixth in the constructors’ championship last season.