Investment firm Dorilton Capital have bought Williams F1 team

Formula One team Williams has been sold by the family to US-based investment firm Dorilton Capital.

The team had been put up for sale in May, plan to race under the same name and will still use their English base.

Deputy team principal Claire Williams announced: “This is the end of an era for Williams as a family-owned team, but we know it is in good hands.”

“It ensures the team’s survival but importantly provides a path to success.”

The official statement from the F1 team stated: “This marks the beginning of an exciting new era in the history of Williams, which with its new owner is well positioned to capitalise upon the sweeping rule changes coming into Formula 1 with the new Concorde Agreement.”

Sir Frank Williams and Sir Patrick Head founded the team in 1977, and have since won nine constructors’ titles and seven drivers’ championships.

In recent years they have not been the most successful with the most recent title being won by Canadian Jacques Villeneuve in 1997.

Their current drivers are Canadian Nicholas Latifi and Britain’s George Russell.

In the 2019 season, Williams only managed to pick-up one point and finished bottom of the World Constructors’ Championship.