Iconic Formula 1 Constructor Williams, The Last Family Owned Enterprise In The Sport, Sold To Dorilton Capital

Iconic Formula 1 constructor Williams have been acquired by Dorilton Capital. The team will continue to race and compete under the Williams brand, with the chassis name remaining unchanged.

"Dorilton has no plans to re-locate the team from Grove, its traditional home," said Williams.

A statement from the team said the acquisition had "unanimous support from the Williams board, which includes Sir Frank Williams".

Importantly, the team said that the private investment firm "recognises and appreciates the importance of respecting and retaining Williams' heritage and culture and is committed to maintaining its identity".

"The strategic review was a useful process to go through and proved that both Formula One and Williams have credibility and value," said Deputy Team Principal Claire Williams.

"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 statement added.

Williams was founded in 1977 by Sir Frank Williams and Patrik head is one of the most successful racing teams in Formula 1 having won seven drivers championships and nine constructors championships.

The Williams car has been driven by world champions in the past like Nigel Mansell, Alain Prost, Keke Rosberg, Nelson Piquet and Ayrton Senna.

The last of the family owned Formula 1 teams, Williams found it difficult to compete with the high budgets of constructors like Mercedes, Red Bull and Ferrari in the recent years.

Its fans hope that the acquisition by Dorilton Capital leads to a new era for the team and secures its long standing participation in Formula 1. This acquisition comes ahead of the fresh 2022 regulations in the sport which are expected to include a budget cap.

With Inputs From IANS