London (AFP)
The British Formula 1 team Williams, put on sale at the end of May, announced Friday its acquisition by the American investment fund Dorilton Capital, which should allow it to return to success.
"Dorilton Capital is known for its long-term approach to its investments and its main objective will be to make the team competitive," Williams said in its press release.
No details on the financial aspects of the transaction were given.
Faced with the financial crisis linked to the Covid-19 pandemic, sporting results at half mast in recent years and the departure of its main sponsor, the team announced on May 29 to seek solutions to ensure its future, which could range from '' fundraising for a minority or total sale.
This sale "marks the start of an exciting new era in the history of Williams which, with its new owner, is well placed to benefit from the sweeping rule changes introduced in Formula 1 with the new Concorde Agreements", adds the team. .
On Wednesday, the ten teams of the world championship had accepted a revision of these agreements which have governed competition since the 1980s.
The changes concern in particular a more equitable distribution of income between the teams in order to narrow the performance gaps.
Founded by Franck Williams and Patrick Head, and seven-time winner of the Drivers 'World Championship and nine of the Constructors' Championships, Williams will retain its name and headquarters in Grove, Oxfordshire (south-east England) .
"It's the end of an era for Williams as a family team but (...) this sale will ensure the survival of the team and, more importantly, offer them a path to success," said commented Claire Williams, vice president of the team and daughter of the founder.
© 2020 AFP