After 740 races, Williams family end their Formula One journey

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

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

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

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  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

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  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

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

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  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

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  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

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  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

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

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  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

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  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 Williams family concluded their association with Formula One on Sunday at the Italian Grand Prix, marking the end of an era in motorsport.

After 740 races, 114 wins, 128 pole positions and 16 world championship titles, team founder Frank Williams and his daughter Claire, who had been running the team as deputy team principal, severed the ties.

Their departure, following the team's sale to the American investment group Dorilton Capital, was also significant because Williams were the last team in the sport under British ownership.

On track, Canadian rookie Nicholas Latifi finished just outside the points in 11th position while Briton George Russell was 14th at Monza.

Both gave heartfelt tributes to the Williams family from their cars on team radio during the slow-down laps after the race.

Claire, who had grown up as part of the team and knew little other than motor racing, was given the pre-race task of waving Latifi out of the garage.

"Great job Claire," said the team.

She admitted she found her final day on the pit-wall at the Italian Grand Prix was emotional.

"Everyone in the team," she posted on social media.

"It's been my greatest pleasure and my biggest honour to work with you. Thank you so much, from the bottom of my heart."

Her father founded the team in 1977 and, together with technical director Patrick Head, built it from humble beginnings into a slick outfit regarded as serial winners before finding it impossible to compete and beat major car manufacturer teams in the 21st century.

The team's last win was at the 2012 Spanish Grand Prix, a weekend remembered also for a fire in their garage as they celebrated after the race.

On Sunday, after two seasons in which they finished bottom of the constructors championship, the team drew attention to their budget limitations, compared to richer rivals like Mercedes, Renault, Red Bull and Ferrari, by producing a home-made 'thank you' card made of cardboard.

Formula One managing director Ross Brawn, who was the technical and engineering force behind all seven of Michael Schumacher's drivers' titles with Benetton and Ferrari, started his career with Williams.

On Sunday, he said: "In Williams, we are losing a family who have been part of Formula One for so long, but on the other hand it shows the trust and support for F1 that there is new investment coming in."

Russell said: "I wouldn't be here today without Frank and Claire. They gave me my shot in F1, like that have done for so many drivers, engineers, mechanics and countless others over the years.