1977-2020: Historic F1 team Williams no longer a family affair - in pictures

Struggling Formula One team bought by US investment firm Dorilton Capital

George Russell of Williams during the Italian GP in Monza. The Williams family ended their association with Formula One on Sunday. Getty

The historic Williams Formula One team has been bought by US investment firm Dorilton Capital, ending 43 years of family ownership. EPA

Williams deputy team principal Claire Williams with husband Marc Harris before the Italian GP in Monza. Getty

The team was founded in 1977 by Frank Williams, left, and Patrick Head, right. Williams have won nine constructors' titles and seven drivers' championships, the last one being Jacques Villeneuve’s triumph in 1997. AFP

Claire Williams ran the day to day operations while Frank remained the principal. But his close friend and former Formula One boss Bernie Ecclestone said that was the problem. "Trouble was, Frank was hands-on in the way he managed the team," Ecclestone said in June. AFP

The Williams Formula One team have been bought by US-based investment firm Dorilton Capital after being put up for sale in May. PA

Williams were forced to look for new investment when in May Williams Grand Prix Holdings group reported an adjusted loss of £13 million for the year ending 2019. EPA

Williams's performance on the track has also taken a hit. They finished as high as third in the constructors' championship in 2015 but last year slid to bottom, the same position they occupy this season. AFP

It represents quite a contrast to the glory years in the 1990s when the likes of Nigel Mansell, Alain Prost and Damon Hill dominated at Williams. AFP

Williams' British driver George Russell, right, leads his teammate Nicholas Latifi at the 70th Anniversary Grand Prix at Silverstone on August 9. AFP

British racing driver Susie Wolff of Williams drives out of team's garage during the first practice session of the British Grand Prix at Silverstone in 2014. EPA

Frank Williams, right, the then head BMW-Williams Formula One team, chats with one of his technicians after the free practice round at the Nuerburgring circuit in Germany in 2003. EPA

The historic Williams Formula One team has ended 43 years of family ownership after being bought by US investment firm Dorilton Capital.

The team was founded in 1977 by Frank Williams and Patrick Head. Williams won nine constructors' titles and seven drivers' championships, their last triumph coming in 1997 thanks to Canadian Jacques Villeneuve.

The writing was on the wall in May when Williams Grand Prix Holdings group reported a loss of £13 million (Dh62m) for 2019. The group blamed the coronavirus pandemic for the losses, having posted a £12.9m profit the previous year.

"This may be the end of an era for Williams as a family owned team, but we know it is in good hands," Claire Williams, deputy team principal and daughter of Frank, said in a statement.

"The sale ensures the team's survival but most importantly will provide a path to success."

Williams had been struggling on the track as well. They finished as high as third in the constructors' championship in 2015 but last year slipped to bottom, the same position they occupy this season.

Matthew Savage, chairman of Dorilton Capital, said the new investment and his company's philosophy will usher in a new era.

"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 front of the grid," he was quoted as saying by AFP.

Williams said the fresh investment, along with the new Concorde Agreement that all the teams signed earlier this week, put the team in a good position.

The new Concorde Agreement saw all 10 Formula One teams agree to a  five-year commercial deal from 2021 which guarantees the motorsport's 'sustainable' future.