Williams F1 team sold to a private investment firm

ca.sports.yahoo.com
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Williams has announced that its Formula 1 team has been acquired by American private investment firm Dorliton Capital.
Williams said back in May that it was considering a partial or full sale of its F1 team in a bid to ease financial pressures, and that it was undergoing a strategic review of the best action to safeguard its future.

The team had suffered a downturn in revenues in recent years after slumping to the bottom of the F1 constructors' championship in each of the past two seasons.

In a statement issued on Friday, Williams revealed it had been bought out by Dorliton Capital in a move that brings "a successful conclusion to the Strategic Review which was launched in late May."

The sale of Williams Racing to Dorliton Capital received "unanimous support" from the company's board and "secures the long-term success of the Williams Formula 1 team", according to the announcement.

The announcement confirmed there are no plans to change the name of the team or the chassis, with the new owner recognising "the importance of respecting and retaining Williams'…
Luke Smith
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