After more than 40 years running one of Formula One's most storied teams, the Williams family is stepping aside so that its new owners have a clear shot at reviving the team's fortunes. Claire Williams, whose father co-founded the Williams F1 team, is stepping down as deputy team principal after this weekend's Italian Grand Prix.

Formula 1 managing director of motorsport Ross Brawn says that some "fairly serious people" are considering an investment in the Williams team.

Williams has announced that its Formula 1 team has been acquired by American private investment firm Dorliton Capital.

Williams has unveiled its new livery ahead of the first race of the Formula 1 season in Austria next week

The move to restructure Williams' Formula 1 operation through a possible sale of the team should not be viewed as "anything other than positive", according to deputy chief Claire Williams.

Williams has been bought by an American-based investment firm after being put up for sale in May, the British team said Friday. The team will continue to race under the Williams name and remain at its English base in Oxfordshire. Williams has won seven drivers' championships and nine constructors

Dorilton Capital purchased 100 per cent of the shares in Williams but Claire Williams will continue to oversee day-to-day operations.

Williams says the arrival of Simon Roberts as its new managing director of F1 completes its planned major technical signings for the short term as it bids to move up the grid.

A recent update hints that Williams F1 team owners may sell a large number of shares in the Team. If true, there shall be major implications for the grid.

Williams will unveil its new Formula 1 livery on Friday morning, with just one week to go until the season-opening Austrian Grand Prix

Jenson Button will provide guidance to the team and support the development of Williams' drivers.

With the COVID-19 pandemic forcing the majority of the world to abandon their offices and adjust to working from home, video meetings have become the new normal.

RESENDING WITH COMPLETE SCRIPT VIDEO SHOWS: FILE FOOTAGE OF WILLIAMS F1 SHOWS: UNKNOWN LOCATION (FILE - FEBRUARY, 2020) (WILLIAMS RACING - ACCESS ALL) 1. HANDOUT VIDEO OF WILLIAMS' FW43 FORMULA ONE CAR (AUDIO OF ENGINE RUNNING) 2. FW43 GRAPHIC 3. (MUTE) VARIOUS STILL IMAGES OF CAR GROVE, ENGLAND, UNITED KINGDOM (FILE - FEBRUARY 11, 2019) (REUTERS - ACCESS ALL) 4. WILLIAMS DRIVER, GEORGE RUSSELL AT EVENT TO LAUNCH…

Button began his grand prix career with Williams in 2000.

Ms Williams said the decision not to hire was 'not at all' as a result of the costs involved.

Williams wants to complete the process of finding investors, or even new owners, for its Formula 1 team by the summer

The longest gap between races in Formula One history, on hold since March because of the coronavirus pandemic, ended Sunday with the season-opening Austrian Grand Prix.It was worth the wait for Toronto's Nicholas Latifi.  In a race that saw nine out of 20 drivers exit early, three safety car restarts

Williams are prepared to end decades of family control and sell the struggling Formula One team to secure its future after tough times on and off the track, deputy principal Claire Williams said on Friday. The announcement is a major shift for a proudly British company co-founded by Frank Williams,

Racing Point team principal Otmar Szafnauer says manufacturers may decide racing in Formula 1 is no longer a priority once the impact of COVID-19 crisis is felt.

Williams will unveil its new Formula 1 livery on Friday morning, with just one week to go until the season-opening Austrian Grand Prix.