Russell hopes new owners will propel Williams back to big time
The highly-rated young British driver, who is a protege of the Mercedes driver development academy, said it was positive news for the team which will retain the Williams family name.
"Very pleased to see the company (and) the team is stable moving forward and has got a great company behind them to help push Williams back to where it belongs -- which is definitely higher up the grid!"
The Williams racing team was acquired by American investment firm Dorilton Capital last week.
"At the moment, they're in a full review of what changes need to be made and who will be forming the management side of the company.
"As it currently stands, I'm just really pleased to see the news and fully focussed on the weekend at hand."
He added that it was important to retain the identity of the team that has won more constructors' championships than any team other than Ferrari.
"The Williams family has been a huge part of Formula One," he said.
"I think the most important thing with this change of ownership is that the name and that side of things will be continuing.
"The Williams family would not have sold to somebody who they didn't believe would be beneficial for the team moving forward. I'm very pleased that they've come to that decision because they believe that is the best for the future of the team."
Russell's team-mate Canadian rookie Nicholas Latifi said: "It's secured the future and stability of the team, which is I think first and foremost the most important thing."