20 January 2023 , 20:15
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Dorilton Capital appears to have injected another £36m into Williams as the historic team's Formula 1 woes continue.
The team has a glorious history of success in the sport and has employed some of F1's best-ever drivers, but glory is not a word often used in association with Williams these days. Sadly, the once-great racing brand has largely been making up the numbers in recent years.
2022 was a particular lowlight, given how worryingly uncompetitive the team was. They finished rock bottom of the constructors' standings – the latest in a growing line of poor results stretching back to 2017. Only once since then have Williams scored a points total in double figures.
Owners Dorilton Capital, who bought the team in 2020, were fully aware of the problems. Financial performance was poor in 2019, when Williams was first put up for sale, and the Covid pandemic only exacerbated that issue. Even now, they continue to struggle to attract big sponsorship deals.
Problems on and off the race track have led to some suggestions that Dorilton might be keen to sell. But the latest development regarding the team's financial situation appears to be a hint that the investment group is here to stay – for now, at least.
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Shares totalling £36m were issued by Williams on December 22nd last year. It is not known exactly who those shares were issued to but, given a very similar number of shares were issued to Dorilton the previous year, it is not unreasonable to suggest the owners have again pumped cash into the team.
James Vowles has joined Williams as team principal (Williams Racing)The money may well be needed after a number of sponsors appear to no longer be involved with Williams. Decalspotters noticed earlier this month that seven brands were removed from the team's official list, including Sofina and Lavazza – brought to the team by Nicholas Latifi, who has been replaced ahead of the new season.
Regarding Dorilton's direct involvement in Williams, the investors have taken much more of an interest in recent times. They made the slightly unexpected but understandable decision to axe team principal Jost Capito this winter with his replacement, Mercedes chief strategist James Vowles, starting on February 20th.
This latest cash injection, assuming it came from Dorilton, will at least help the team in terms of stability – though that is, of course, not the long term goal. Williams' 2022 accounts, due to be published later this year, will provide more of an insight into exactly where the team is right now, from a financial perspective.