London, Aug 21 (IANS) Iconic British Formula One 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 Team Principal Claire Williams.
“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. 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 statement added.