The Williams family decides to cut ties with the "Formula 1 World Championship"
The Williams family announced that it will sever its relationship with the team that bears its name and participates in the Formula 1 World Championship, after the end of the Italian Grand Prix, to be held Sunday at the Monza circuit.
Claire Williams, daughter of Frank, the founder of the team, revealed that she would leave her position as deputy director of the team after selling it to an American investment company.
The Williams team, who won 16 world championships (7 drivers and 9 builders), was sold last month to Dorleton Capital.
The 43-year era ended for the team founded by Frank Williams and Patrick Head in 1977, but his successive failures and not winning the championship title since 1997 with Canadian Jacques Villeneuve forced his owners to search for new investments after the "Williams Grand Prix Holdings" group announced an adjusted loss of 13 million pounds (17 million US dollars) at the end of 2019.
"With the team’s future now secured, it seems the right time for us to move away from the sport. We think the time is right to hand over the reins and give the new owners an opportunity to take the team to the future," said Claire Williams.
Formula One teams need huge funds in order to participate in the World Championship and compete for the title, which is what Williams' team missed, especially in light of the crisis caused by the spread of the new Corona virus, which delayed the start of the tournament.
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