WATCH: Will Buxton and Lawrence Barretto on what next for Williams after the sale of the team

The big news on Friday morning was the announcement from Williams that the team had been sold to American investment firm Dorilton Capital.

It means that the team – winners of nine constructors’ championships and seven drivers’ titles – will be out of the Williams family's control for the first time ever, more than 40 years after Sir Frank Williams and Sir Patrick Head started the company back in thr 1970s.

So what now for one of Formula 1's most iconic and popular outfits? Will Claire Williams continue to runs things on a day-to-day basis? Will the team's name be changing? And what can we expect in terms of investment to help move the team back up the grid?

F1's digital presenter Will Buxton and F1.com's senior writer Lawrence Barretto pick apart today's big news in the video above. And click below for more analysis on this story.

ANALYSIS: What does new ownership mean for Williams? All the key questions answered