The "end of an era": Dorilton Capital acquire Williams Racing
Williams Racing has been acquired by private investment firm Dorilton Capital as the team ceases to be a family run operation.
Deputy team principal Claire Williams described the announcement as being "the end of an era or Williams", but hopes this new chapter in the team's history will return it to competitiveness.
Williams said: "As a family we have always put our team first. Making the team successful again and protecting our people has been at the heart of this process from start. This may be the end of an era for Williams as a family owned team, but we know it is in good hands.
"The sale ensures the team’s survival but most importantly will provide a path to success. We are enormously grateful to Dorilton for the faith they have shown in our team and we look forward to working with them now."
When an F1 team is sold, it is not uncommon for the team to its change brand identity with a new name.
However, as part of the deal, it has been confirmed that not only will the team name remain unchanged, but also the chassis numbers - each chassis starting with 'FW' in reference and honour to team founder Frank Williams.
Williams added: “The Strategic Review was a useful process to go through and proved that both Formula One and Williams have credibility and value.
"We have now reached a conclusion and we are delighted that Dorilton are the new owners of the team. When we started this process, we wanted to find a partner who shared the same passion and values, who recognised the team’s potential and who could unlock its power. In Dorilton we know we have found exactly that."
Matthew Savage, chairman of Dorilton Capital, commented: "We are delighted to have invested in Williams and we are extremely excited by the prospects for the business.
"We believe we are the ideal partner for the company due to our flexible and patient investment style, which will allow the team to focus on its objective of returning to the front of the grid.
"We look forward to working with the Williams team in carrying out a detailed review of the business to determine in which areas new investment should be directed.
"We also recognise the world class facilities at Grove and confirm that there are no plans to relocate."
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