F1 chief resigned after brother arrested carrying 'large amount of cash'

F1 chief resigned after brother arrested carrying 'large amount of cash' Newspoint | 09/05/2025 05:39:09

Oliver Oakes as team principal of just days after his brother was arrested while carrying a large amount of cash. Oakes, 37, became the youngest active team principal in and the second youngest in the sport's history but quit following Sunday's , where Alpine failed to score points.

Now it's been revealed that Oakes, who also owns British motor racing team Hitech Grand Prix, offered his resignation in the wake of his brother's arrest. report that William Oakes was apprehended in the Silverstone Park area last Thursday.

William, 31, is listed as a director of Hitech on Companies House. He was charged with 'transferring criminal property' and has been remanded in custody. Police say that he was in possession of a large amount of cash when the arrest was made.

A spokesperson said: "William Oakes, 31, of Rugby was charged with transferring criminal property on Friday, May 2 after he was stopped in the Silverstone Park area in Northamptonshire on Thursday, May 1, 2025 in possession of a large amount of cash.

He appeared before Northampton Magistrates' Court on Saturday, May 3, and remanded in custody."

Oliver Oakes, who was in Florida preparing for the weekend's racing at the time of William's arrest, declined to comment when approached by the Telegraph. Mirror Sport have approached Hitech for comment, while Alpine declined to comment as the situation was 'not team related'.

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Oakes spoke at a team principals' press conference alongside and on Friday. His whereabouts are currently unknown, although he's understood to have flown to Dubai following the Grand Prix.

Oakes stunned fans with his decision to leave the Enstone-based team after 10 months in charge.

His exit was confirmed after Alpine had announced their decision to axe rookie Jack Doohan just six race weekends into the 2025 season and replace him with reserve driver Franco Colapinto for at least the next five rounds. "BWT Alpine Formula One Team announces that Oliver Oakes has resigned from his role as Team Principal," a statement read.

"The team has accepted his resignation with immediate effect. As of today, will continue as Executive Advisor and will also be covering the duties previously performed by Oliver Oakes.

"The team would like to thank Oliver for his efforts since he joined last summer and for his contribution in helping the team secure sixth place in the 2024 Constructors' Championship.

The team will not be making any further comment."

The experienced Briatore, who turned 75 last month, then shared more information about Oakes' departure. "A lot has been said in the past 24 hours incorrectly associating the decision of Oli resigning to an alleged disagreement, or that we shared different views," the ex-Benetton and Renault chief explained.

"This is completely false and far from the truth. Me and Oli have a very good relationship and had long-term ambitions to drive this team forward together. We respect Oli's request to resign and have therefore accepted his resignation.

"The reasons are not related to the team and are of a personal nature. I will continue to be more and more involved with the team, together with the strong management we already have in place. We will work hard on improving our position this season and preparing for 2026."