However, by 1997 the F1 GTRs were no longer competitive against newer breeds of specially homologated supercars from Mercedes-Benz and Porsche.

During the 1997 decline of McLaren, BMW Motorsport announced a deal with WilliamsF1, at the time Formula One constructors champions, which would see Williams constructing the car's chassis and develop its aerodynamics for the 24 Hours of Le Mans.

Debuting at the 1998 24 Hours of Le Mans test day in May, the two V12 LM chassis set times which were not favorable, their best lap placing them 11th behind factory entries from Porsche, Toyota, Nissan, and Mercedes-Benz, all of which were running grand tourer-style cars instead of the theoretically faster Le Mans prototypes.

With BMW moving onto the all-new V12 LMR, only the two privateer teams were left to campaign the rejected V12 LM.

The car would make one final appearance at an FIA Sportscar Championship event at the Nürburgring, finishing 4th place overall.

Team Goh, on the other hand, decided to concentrate solely on Le Mans, with the car failing to finish due to gearbox problems.

For 2000, Team Goh announced a partnership with Japanese constructor Dome, in which the V12 LM would be heavily modified in order to correct its aerodynamic instabilities and cooling problems.