21 August 2020, Williams was acquired by Dorilton Capital. Frank and Claire Williams stepped down from being Manager and Deputy Manager of the team on 6 September 2020, with the 2020 Italian Grand Prix being their last time in their respective positions. Origins Frank Williams founded Williams in 1977 after his previous team, Frank Williams Racing Cars, failed to achieve the success he desired. Despite the promise of a new owner, Canadian millionaire Walter Wolf, and the team's rebranding as Wolf–Williams Racing in , the cars still were not competitive. Eventually, Williams left the rechristened Walter Wolf Racing and moved to Didcot to rebuild his team as Williams Grand Prix Engineering. Frank recruited Patrick Head to work for the team, creating the Williams–Head partnership. Racing history – Formula One Ford-Cosworth engines (1977–1983) 1977 season Williams entered a March 761 for the season. Lone driver Patrick Nève competed in 11 races that year, starting with the . The new team failed to score a point, achieving a best finish of 7th at the . 1978 season For the season, Patrick Head designed the first Williams car: the FW06. Williams signed Alan Jones, who had won the the previous season for a devastated Shadow team following the death of their lead driver, Tom Pryce. Jones's first race for the team was the where he qualified in 14th position but retired after 36 laps due to a fuel system failure. The team scored its first championship points two races later at the when Jones finished in fourth. Williams earnt their first podium at the , where Jones came second, 20 seconds behind the Ferrari of Carlos Reutemann. Williams finished the season in ninth place in the Constructors' Championship, with a respectable 11 points, while Alan Jones finished 11th in the Drivers' Championship. Towards the end of 1978, Frank Williams recruited Frank Dernie to join Patrick Head in the design office. 1979 season Head designed the FW07 for the season with Frank Dernie picking up the aerodynamic development and skirt design. This was the team's first ground effect car, a technology that was first introduced by Colin Chapman and Team Lotus. Williams also obtained membership of the Formula One Constructors' Association (FOCA) which expressed a preference for teams to run two cars, so Jones was joined at the team by Clay Regazzoni. It was not until the seventh round of the championship, the ,