Williams family to exit F1 after 43 years

The Williams family will step away from Formula 1 following the sale of the team to U.S. investment firm Dorilton Capital.

Williams has announced the Italian Grand Prix will be the last with Sir Frank and Claire Williams as team principal and deputy team principal.

With the future of the team secure, Claire Williams explained that after 43 years of ownership and 739 grands prix, now was the right time to make the difficult decision for the family to walk away.

Williams explained: “With the future of the team now secured, this feels like the appropriate time for us to step away from the sport. As a family, we have always prioritised Williams. We have demonstrated that by our recent actions with the Strategic Review process and we believe now is the right time to hand over the reins and give the new owners the opportunity to take the team into the future.

“We have been in this sport for more than four decades. We are incredibly proud of our track record and the legacy we leave behind. We have always been in it for the love of it, for the pure pleasure of going motor racing, so this is not a decision that we have taken lightly but after much reflection and as a family."

Matthew Savage, chairman of Dorilton Capital and now of Williams Grand Prix Engineering paid tribute to the work of the Williams family, saying: "Claire’s achievement in sustaining Williams Racing’s heritage, relevance and commitment to innovation in a difficult environment since taking charge in 2013 has been nothing short of monumental.

"She has also been hugely instrumental in shaping a more level technical and financial playing field for F1, which will help to ensure the team’s return to the front of the grid in seasons to come.

"We are proud to carry the Williams name into the next exciting phase for the sport and we thank Sir Frank, Claire and the Williams family for the opportunity to be part of this great British brand.”

Under the stewardship of the Williams family, Williams has taken 114 grands prix victories, 128 pole positions and 133 fastest laps leading to nine constructors' and seven drivers' world championship titles.

The most recent of these wins came through Pastor Maldonado in the 2012 Spanish Grand Prix.

Of her personal decision to step down after seven years in the role of deputy team principal, Williams added: "It has not been an easy decision but it’s one I believe to be right for all involved. I have been enormously privileged to have grown up in this team and in the wonderful world that is Formula One.

"I have loved every minute and will be forever grateful for the opportunities it has given me. But it’s also an incredibly challenging sport and I now want to see what else the world holds for me. Most importantly, I want to spend time with my family."

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