Its a new chapter in Williams Racing’s history as the Formula 1 team announced today that it has been acquired by Dorilton Capital, a private investment firm based in the United States.
The sale of the team comes after the storied racing team announced the commencement of a strategic review back in May, which included the search of a new buyer. Despite new ownership, the F1 team will continue to operate under the Williams brand, and has no plans to relocate from the team’s traditional home in Grove.
Founded by Sir Frank Williams in 1977, Williams is one of the most successful racing teams in the history of Formula 1, with 114 race wins, nine constructors’ championships, and seven drivers’ championships in its trophy cabinet. However, the family-owned team has fell down the pecking order in recent years, ending the 2019 season in last place.
The new deal, which received “unanimous support” from the Williams board of directors – including Sir Frank Williams, will seek to capitalise on the rule changes planned for the sport in 2022, especially since the team has just signed the Concorde agreement alongside the 9 other teams currently competing, which lays out how the sport will be governed and prize money distributed for the next five years.
Commenting on the acquisition, Williams Racing deputy team principal Claire Williams said, “When we started [the strategic review], 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. People who understand the sport and what it takes to be successful. People who respect the team’s legacy and will do everything to ensure it succeeds in the future.
“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.”
The press statement further reads: “Dorilton recognises and appreciates the importance of respecting and retaining Williams’ heritage and culture and is committed to maintaining its identity.”
Dorilton Chairman Matthew Savage added, “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.”
[Images: Formula 1]