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Claire Williams explained that financial misfortune during the Covid-stricken 2020 F1 season led to her family selling their beloved team.
The Williams F1 team, established by Sir Frank Williams, enjoyed great success in the 1980s and ’90s, but faced a decline in the 21st century due to financial struggles. The family had to sell the team to Dorilton Capital in August 2020 after running out of funds. The loss of ROKiT as a sponsor caused a significant financial gap for the team going into the 2020 season, which led to court battles to retrieve unpaid dues. The impact of Covid-19 further exacerbated their financial woes, ultimately leading to the sale of the team. Despite the challenges, Claire Williams expressed gratitude towards Dorilton for continuing the team’s legacy and taking care of its members. The Williams family had originally hoped to remain in Formula 1 long-term, making the sale a difficult and heartbreaking decision for them.
