The share price of the Williams team has dropped by 27% on the stock exchange following their worst start to a Formula 1 season in 33 years.
The team floated the company on the stock exchange last month after losing long-term sponsors RBS and Air Asia in recent years.
But the appalling start to their season has seen their value plummet. Neither car finished in the opening two races and Rubens Barrichello and Pastor Maldonado could only manage thirteenth and eighteenth respectively in China.
Over the past five years Williams has made total net losses of £31 million.
Speaking to the Guardian, sponsorship consultant Julian Cotttam said it will be tough for Williams to replace backers as its falling share price creates a poor image.
“I can’t see any motivation at all for a brand to align with a team that has made such a fundamentally flawed decision,” Cottam said
“I didn’t see why Patrick Head was so determined to offload his entire stock in the business at a time when Williams has had a long period without any great success on track.”
Williams is the second most successful constructor in F1 history – behind Ferrari – but they have not won a race since Juan-Pablo Montoya took the chequered flag at the Brazilian Grand Prix in 2004.