It's no secret that Williams has been struggling of late, languishing toward the tail of the F1 field despite the talent of its drivers. Anyone familiar with Netflix's Drive to Survive will have seen how fraught the operation has been on occasion, too. So, all things considered, it's pleasing to report on some good news for Williams: it has been acquired by Dorilton Capital, following the Strategic Review launched back in May.
The Williams team said in a statement that this new era "secures [the] long-term future of the F1 team and paves the way for renewed competitiveness." For those Grand Prix fans that fondly recall Hill, Mansell, Prost, Piquet and Rosberg in title-winning Williams F1 cars, that is obviously good news. It arguably arrives at the best time, too, with F1's new Concorde Agreement set to shake up the sport and reduce the advantage held by the better funded teams.
Dorilton Capital is a US private investment firm, said to "boast a strong track record of building and enhancing companies with a flexible and patient investment style." It's saying all the things that you'd want it to: Williams will continue to be called Williams, the chassis names won't change, the Grove base isn't moving and so on. "Dorilton recognises and appreciates the importance of respecting and retaining Williams' heritage", the statement says.
Williams' Strategic Review took in many discussions with potential investors before the sale to Dorilton was agreed. Still a board member, it was approved by Sir Frank himself as well; he is said to have determined that "the transaction delivers the best outcome for the shareholders and secures the long-term success of the Williams Formula 1 team."
Which is what we're all desperate for, right? Even those of us whose fondest Williams memories are probably Montoya and Schumacher in those howling V10 BMWs, we all know the history. We all want Williams competing for championships like it used to. So here's hoping that the fresh investment and upcoming rule change bring just that. It's been a long time coming...
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