One of Formula 1’s most legendary teams, Williams Racing, was sold in 2020 during the COVID-19 pandemic, marking the end of an era for the iconic Grove-based squad. The decision to sell to American investment firm Dorilton Capital for $200 million was not taken lightly, and now, Claire Williams, daughter of team founder Sir Frank Williams, has confessed that the heartbreak of letting go of the team haunts her daily.
Founded by Sir Frank Williams in 1977, Williams Racing became one of the most successful independent teams in F1 history, boasting world championships with legendary drivers like Nigel Mansell and Alain Prost. However, by 2020, the team’s fortunes had dwindled, leaving them struggling at the back of the grid. Despite their legacy, Williams faced mounting financial pressure, exacerbated by the global pandemic.
In a recent interview, Claire Williams clarified that the sale of the team was not a “cash-out” opportunity for the family. She emphasized that they had every intention of preserving the Williams name in Formula 1 for future generations, including her son and nephews. The sale, she revealed, was a painful last resort driven by the harsh realities of the pandemic and financial struggles.
“There’s not one day where I have the emotion I’m pleased we sold Williams,” said Claire. “I will live with the heartbreak of losing it every single day. We didn’t decide to sell because we had had enough of F1 or we wanted to cash out. We wanted to stay in it. It was our life. I wanted to run the team for my son or our nephews.”
The blow that sealed the team’s fate came in the form of the 2020 pandemic and a financial dispute with their former title sponsor, ROKiT. When the pandemic hit, ROKiT pulled out of their sponsorship deal, leaving a huge gap in the team’s finances. Claire Williams revealed that the team won a lawsuit against ROKiT, who owed them £30 million ($39 million) in compensation. But the payment never materialized, leaving the team without crucial funds at a time when F1 racing was halted for months. Though they eventually received around $28 million, it was too late to prevent the sale.
“We took them to court and we won. They owe us £30 million. They didn’t pay, that left a huge hole in 2020. We were fortunate we had someone come along to plug that gap. We arrived in Melbourne and COVID hit. We didn’t go racing until July. When you don’t go racing, you don’t get money.”
For many fans, the sale of Williams Racing marked a tragic moment in F1 history, as one of the last great independent teams fell into the hands of an investment firm. However, the sale has breathed new life into the squad. Dorilton Capital has since injected significant funds into the team, laying the groundwork for a potential revival of Williams Racing.
While Claire Williams may continue to carry the emotional burden of parting with her family’s team, her decision may have paved the way for Williams Racing to rise again in Formula 1. The hope now is that Dorilton’s investment can restore some of the glory the team once knew and keep the Williams name alive in the sport’s history books.
