Williams Rac🐻ing has been acquired by private investment firm Dorilton Capital in a move that secures the future of the Formula 1 team.

Back in May, Williams launched a s﷽trategic company-wide review with the aim of securing fresh investment to safeguard its long-term future in the sport, which has led to the full sale of the team to Dorilton Capital.

The American-based private investment firm’s takeover was completed with the blessing of the Will🎀iams board, including Sir Frank, who is convinced the sꦏale is the best move for the long-term success of the Williams F1 team.

The team will continue to race under the Williams brand and retain the chassis name, while there are no plans to relocate from its Grove-based factory in Oxfordsh💞ire.

A Williams statement said Dorilton “recognises and app🌞reciates the importance of respecting and retaining Williams’ heritage and culture and is committed to maintaining its identity.”

“The Strategic Review was a useful process to go through and prov🍌ed that both Formula 1 and Williams𒊎 have credibility and value,” deputy team principal Claire Williams said.

“We have now reached a conclusion and we are de✤lighted that Dorilton are the new owners of the team. When we started this process, we wanted to find a partner who shared the same passion and values, who recognised the team’s potential and who could unlock its power.

“In Dorilton we know we have fo🐬und exactly that. People who understand the sport and what it takes to be successful. People who respect the team’s legacy and w💜ill do everything to ensure it succeeds in the future.

“As a family we have always put our 🍨team first,” she added. “Making the team successful again and protecting our people has been at the heart of this proces🔯s from start.

“Thi𝄹s may be the end of an era for Williams as a family owned team, but we know it is in good hands. The sale ensures the tea👍m’s survival but most importantly will provide a path to success.

“We are enormously grateful to Dorilton for the faith they have shown in our team and we look forward to working with 🌠them now.

“I would also like to thank the Williams Board and our advisers who have worked tirelessly over the past months to make this happen and our employees who have remained steadfas꧒tly loyal.”

It comes just days after Williams had announced🌺 it had signed the new Concorde Agreement to remain in F1 until at 🧔least 2025.

The fresh terms set out for 2021-2025 are centre🦩d around creating a fairer, more competitive sport by reducing the financial and on-track disparity🦄 between the teams.

Matthew Savage, Chairm🐲an of Dorilton Capital, added: “We are delighted to have invested in Williamꦬs and we are extremely excited by the prospects for the business.

“We believe we are the ideal partner for the company due to our flexible and patient investment style, which will allow the team to focus on its objective of returning to the fr👍ont of the grid.

“We look forward to working with the Williams team in carrying out a detailed review of the business to determine in which areas new investment shoul🎃d be directed.

“We also recognise the world class facilities at Grove and confirm tha🅠t there are no plans to relocate.”