Williams secures F1 future with sale to private investment firm
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Williams Racing has been acquired by private investment firm Dorilton Capital in a move that secures the future of the Formula 1 team.Check out the F1 YouTube channel – CLICK HEREBack in May, Williams launched a strategic company-wide review with the aim of securing fresh investment to safeguard its long-term future in the sport, which has led to the full sale of the team to Dorilton Capital.The American-based private investment firm’s takeover was completed with the blessing of the Williams board, including Sir Frank, who is convinced the sale is the best move for the long-term success of the Williams F1 team.The team will continue to race under the Williams brand and retain the chassis name, while there are no plans to relocate from its Grove-based factory in Oxfordshire.A Williams statement said Dorilton “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 1 and Williams have credibility and value,” deputy team principal Claire Williams said.“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. 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,” she added. “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.”4“I would also like to thank the Williams Board and our advisers who have worked tirelessly over the past months to make this happen and our employees who have remained steadfastly loyal.”It comes just days after Williams had announced it had signed the new Concorde Agreement to remain in F1 until at least 2025.The fresh terms set out for 2021-2025 are centred around creating a fairer, more competitive sport by reducing the financial and on-track disparity between the teams.”5Matthew Savage, Chairman of Dorilton Capital, added: “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.”6“We also recognise the world class facilities at Grove and confirm that there are no plans to relocate.”
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