American investment firm Dorilton Capital, known for its long-term approach to investments, is the new owner of the Williams Racing Formula 1 team.
The team will continue to race using its own brand and chassis name, with no plans for re-location currently underway. The acquisition had “unanimous support from the Williams board,” including Sir Frank Williams himself.
Williams stated that this marks the beginning of an exciting new era in their history, with the team now “well positioned to capitalize upon the seeping rule changes coming into Formula 1 with the new Concorde Agreement,” in 2021.
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The British outfit put out a press release back in May saying that it was looking for a potential buyer after splitting with title sponsor Rokit. Since then, they’ve changed their livery and have come out looking reasonably competitive compared to last year.
“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,” said Dorilton Capital chairman Matthew Savage.
“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. We also recognize the world class facilities at Grove and confirm that there are no plans to relocate.”
While ownership changes will likely not be reflected in this season’s on-track performance, Williams will surely have more money to spend on development in the future, which bodes well for its future.