Williams Grand Prix Engineering announced their sale to a private investment firm based out of New York. Back in May, they released a statement in the search of potential buyers for a complete or partial sale of their team.

Williams have been struggling, and their troubles are painstakingly overt. Consistent dismal performances and revenue collection at an all-time low compelled the Grove-based outfit to make some drastic changes in a bid to keep the team afloat.

Williams in safe hands now

Dorilton capital, a private investment firm pulled out necessary funds and bought the Formula 1 team. The board members as well as Sir Frank Williams himself were jubilated at the prospect of some support as far as finances are concerned.

“The Strategic Review was a useful process to go through and proved that both Formula One and Williams have credibility and value,” said Williams Deputy 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 recognized the team’s potential and who could unlock its power.”

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The Formula 1 team last won the Drivers’ Championship and the Constructors’ Championship back in 1997. Therefore, it seems the new owners have a long way ahead of them.

The Dorilton group reportedly acquired Williams for €152m (£136m, $179.5m). However, considering the budget of some F1 teams, the fee paid was nominal in the greater scheme of things.

Dorilton Group undoubtedly looks forward to working with Williams. The American outfit is thrilled to acquire the company and also looks motivated to work towards improvement.

Matthew Savage, Chairman of Dorilton Capital, commented: “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.”

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