The sale of the Williams Formula 1 team now also marks the end of the famous British family in the sport. Claire Williams is stepping down as boss of the team after Sunday’s Italian Grand Prix in Monza.

After 43 years and nearly 750 races, the Williams era is now finally coming to an end. The racing stable was recently sold to US-based Dorilton Capital. “It is with a heavy heart that I let go of the team“, Williams said in a statement.

“I had hoped to carry on my work well into the future and preserve the Williams legacy for the next generation, but sales have changed everything.”

The team has performed poorly in recent years and saw its financial base continue to collapse. To avoid bankruptcy, the team was sold to a party with money.

Now that the future of the team has been secured, this feels like the right time for us to step back from the sport. Our family has always put the racing team and the people who work there first, so the sale was definitely the right decision. I am confident the new owners will be able to bring the Williams team back to the top“, said Williams who has been in charge since 2013.

Williams had been up for sale since May, because it was in dire need of money. Williams took a loss of almost 15 million euros last year and saw even greater financial problems looming this year as a result of the corona crisis. The team signed the new Concorde Accord last month, with which it committed itself to Formula 1 for the next five years.

Founded by her father Frank Williams, the team has won seven drivers ‘championships and nine constructors’ titles. The last world title dates back to 1997 with Jacques Villeneuve behind the wheel. The British team scored just one point in 2019, thanks to a 10th place finish for Robert Kubica.

Famous names have ridden for the team, including world champions Alain Prost, Nelson Piquet and Ayrton Senna. British World Champions Nigel Mansell and Damon Hill helped the team become hugely popular with fans in their home country. Williams has won 114 races, taken 128 pole positions and is the third longest-standing team in the history of the series.

In recent years, the drivers have always been at the rear. This year is slightly better, but George Russell and Nicholas Latifi have not yet earned World Cup points.