Jump to content

Williams F1 team sold to US investment firm


johndglynn

Recommended Posts

News today on the sale of Williams Grand Prix Racing (story at F1.com).

It’s the dawn of a new era for Williams after the Formula 1 team announced they have been acquired by American investment firm, Dorilton Capital.

The iconic British constructor, founded by Sir Frank Williams and Sir Patrick Head, said in May that it was embarking on a “new strategic direction”, beginning talks with interested parties regarding a sale of a minority or majority stake in the company.

On Friday, nearly three months after it made that news public, the team said Dorilton Capital would be its new owners, marking “the beginning of an exciting new era in the history of Williams” with the team “now well positioned to capitalise upon the sweeping rule changes coming into Formula 1 with the new Concorde Agreement” for 2021.

Importantly, the team said the private investment firm “recognises and appreciates the importance of respecting and retaining Williams’ heritage and culture and is committed to maintaining its identity”.

They added: “The team will continue to race and compete under the Williams brand, with the chassis name remaining unchanged. Dorilton has no plans to re-locate the team from Grove, its traditional home.”

The statement said the acquisition had “unanimous support from the Williams board, which includes Sir Frank Williams”.

I think a good buy at the right price. Your thoughts?

Link to comment
Share on other sites

  • johndglynn changed the title to Williams F1 team sold to US investment firm

At least these don't look like the usual sort of asset stripping investment firms.  The ultimate owners of Dorilton are apparently a European family:

" Patient capital – We are a family equity business
We represent the investment office of a European family and have no fixed investment period. We prefer to create value over the longer term by reinvesting cash flow while avoiding excessive leverage. We have insight into the issues that other family owned businesses may confront and can be flexible in considering structures that will assist sellers with estate planning and other tax considerations."

That last sentence might have held a significant sway over Frank and Patrick to protect their families long term financial interests.

Link to comment
Share on other sites

32 minutes ago, Beaky said:

The question is, who will continue to head and run the team, not sure Claire will 

Will she even last the season. I expect someone is already lined up for the job.

  • Like 1
Link to comment
Share on other sites

2 hours ago, Beaky said:

The question is, who will continue to head and run the team, not sure Claire will 

She didn't give me a warm feeling that she was in control in a recent documentary

Link to comment
Share on other sites

13 minutes ago, flappa2 said:

She didn't give me a warm feeling that she was in control in a recent documentary

I don’t think she has appeared to be in control since she was given the role, never really seemed enthusiastic to me 🤷🏻‍♂️

Link to comment
Share on other sites

1 hour ago, flappa2 said:

She didn't give me a warm feeling that she was in control in a recent documentary

The sections on Williams in the Netflix series were painful viewing. She'll be off quickly I think.

Link to comment
Share on other sites

To any motorsport team let alone an F1 outfit you need to be bloody minded and brutal on deliverables and those that own them................... 

Link to comment
Share on other sites

4 hours ago, Mondrian said:

Strange takeover, unless primary purpose is to raise Dorilton Capitals profile and brand identity.

As per my earlier post about Dorilton being the investment company for a wealthy European family, they have no interest in raising their profile or brand identity, I suspect that this is a family with an interest in motorsport and F1 in particular. Place your bets on which billionaire family they represent...

Link to comment
Share on other sites

24 minutes ago, Beaky said:

To any motorsport team let alone an F1 outfit you need to be bloody minded and brutal on deliverables and those that own them................... 

Races wait for no one, neither do other competitors, Williams didn't keep up and were left behind

Great bunch, loved it there, made me feel like family, company was there for me when I needed picking up even when I was just outside hired in help 

Have so much respect for Frank and the team, enough that when the F1 guys asked for help I was up for less job security/money to join them in trying to catch up the rest of the grid

Star's didn't align up that time but hope one day in the future they do

 

 

Link to comment
Share on other sites

On 21/08/2020 at 17:49, flappa2 said:

She didn't give me a warm feeling that she was in control in a recent documentary

If you are thinking about the Netflix series, I couldn't agree more, she really didn't appear to be on top of things.  Really interesting though - not just from an F1 perspective but from a business strategy and leadership perspective as well.  

Link to comment
Share on other sites

I was a bit saddened when I heard the news, but then thought on the brighter side, if it gives them the investment needed to push forward then amen to that. Just hope it never loses the Williams name and heritage and get rebranded as some poxy US outfit that then disappears a few seasons later. Contrary to what a few have said I think Claire tries damn hard to make them a success and lives and breathes the f1 team for her doting dads sake. She proabably just doesn't get the respect and clout that he commanded. Onwards and upwards :) i was at the Masters Historics at Brands yesterday and there was a heck of a lot of Wiliams F1 merchandise being worn by the crowd so still a lot of love for them in the UK.

Link to comment
Share on other sites

40 minutes ago, MarkJ said:

I was a bit saddened when I heard the news, but then thought on the brighter side, if it gives them the investment needed to push forward then amen to that. Just hope it never loses the Williams name and heritage and get rebranded as some poxy US outfit that then disappears a few seasons later. Contrary to what a few have said I think Claire tries damn hard to make them a success and lives and breathes the f1 team for her doting dads sake. She proabably just doesn't get the respect and clout that he commanded. Onwards and upwards :) i was at the Masters Historics at Brands yesterday and there was a heck of a lot of Wiliams F1 merchandise being worn by the crowd so still a lot of love for them in the UK.

My comment was definitely not a comment about effort.  Perhaps the change of ownership will not only bring in new money, but also make the break with the past that allows new leadership and ideas. I'd also class myself as a fan of Williams. 🙂

Link to comment
Share on other sites

According to a report on grandprix247 Dorilton is owned/controlled by hedge fund owner James Matthews, net worth estimated at $2.5billion, married to Pippa Middleton, and sometime single seater racer, winning the Formula Renault championship in 1994. So hopefully the team is in good hands.

https://www.grandprix247.com/2020/08/24/who-are-new-williams-owners-dorilton-capital/

 

Edited by njpcarrera32
forgot link
Link to comment
Share on other sites

re. Claire Williams, she's done a pretty good job as chief exec netting north of $100M for the family coffers after debts have been settled... I'd say that was good business given the alternatives.

Link to comment
Share on other sites

After this race weekend the family has no involvement in the team anymore

https://www.bbc.co.uk/sport/formula1/54014306

Will be interesting to watch the new owners long term approach to rebuilding the team back up or they may choose the quick option of adding value and then selling it on to a billionaire dad for a profit

 

Link to comment
Share on other sites

Yes - will be interesting. I am glad the saga is over for the team and hopefully the results start to build from here. I look forward to seeing who comes in to run it.

Wonder how things might have turned out if they'd sold back in 2013 rather than kicking the brand around the garage floor for the last few years. Anyway, coulda woulda shoulda etc.

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...