ISLAMABAD, August 23 (Online Int’l): The historic Williams Formula One team has been bought by US-based investment firm Dorilton Capital, ending 43 years of family ownership, it was announced on Friday. Founded in 1977 by Frank Williams and Patrick Head, Williams have won nine constructors’ titles and seven drivers’ championships, the most recent coming through Canadian Jacques Villeneuve in 1997. They were forced to look for new investment when in May the Williams Grand Prix Holdings group reported an adjusted loss of £13 million ($17 million) for the year ending 2019.
“This may be the end of an era for Williams as a family owned team, but we know it is in good hands”, said Claire Williams, Deputy Team Principal and daughter of Frank in a statement.
“The sale ensures the team’s survival but most importantly will provide a path to success.”
As Williams’s financial fortunes have taken a hammering so has their performance on the track.
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