Williams have confirmed Felipe Massa will join the team from 2014 moving from Ferrari where he is being replaced by Kimi Raikkonen.
It is good news for the 32-year-old Brazilian who was left scrambling for a seat following the announcement of his Ferrari departure.
Since then he has been gathering sponsorship from Brazil including $6m in backing from the country's oil giant Petrobras.
Massa replaces Pastor Maldonado who had become disenchanted by the Grove team's poor performances and had been linked to Lotus following the uncertainty surrounding the Quantum Racing deal.
However, with that deal seemingly done it leaves Maldonado in a difficult position with Nico Hulkenberg the preferred choice.
The move is a bold one for Williams, who will lose the reported $40m in backing for Venezuela's oil giant PDVSA however, the team was keen to say it hopes the experience Massa brings can help move the team forward.
Founder Sir Frank Williams said in the official press release: "We are delighted to be able to confirm our 2014 driver line-up and welcome Felipe into the Williams family.
"He is an exceptional talent and a real fighter on the race track; he also brings a wealth of experience as we begin a new chapter in our story."
His daughter and now deputy team boss Claire Williams added: "This announcement is a key step towards our goal of returning Williams to the front of the grid, and part of our on-going plans to ensure we are stronger in 2014 and beyond.
"The stability of having both our drivers on multi-year contracts, Mercedes-Benz as our engine partner and a strong commercial base all contribute to the future success of the Williams F1 Team."
As for Massa himself the move is an emotional one given the history of Williams and Brazilian drivers particularly that of his hero Ayrton Senna.
"Williams is one of the most successful and important teams of all time in Formula One," he said.
"When I was a kid, I always dreamed about racing for Williams, Ferrari or McLaren and I'm glad to be signing with another icon of the sport following my time at Ferrari. It is also nice to remember that some of the best Brazilian drivers raced for Williams and cemented a strong national link with the team."
The former championship runner up is also hopeful he can add vital input to the Williams project and take advantage of the rule changes coming in 2014.
"With such a major change of regulations in 2014, I hope my experience will be useful in helping the team in its effort to move on from a difficult period," he added.
"Since my early days in motor racing, I don't remember seeing so many new rules in a single season and I'm fully prepared to work with everyone at Grove to make sure we find the right direction.
"I'm highly motivated to start working hard from the very beginning in what is an exciting new challenge in my career."
The team also retain Finn Valtteri Bottas who's claim to fame was a 3rd place grid slot for the Canadian Grand Prix showing his skills in the wet qualifying at the Circuit Gilles Villeneuve.
Williams claimed Bottas has "matured into an accomplished Formula One driver" during his rookie season despite being unable to claim a single point.
However, Claire Williams believe the Finn can show his true abilities should the team produce a competitive car.
"Valtteri is an exciting, young talent who has done a solid job for us in his rookie season and we are looking forward to giving him the equipment he deserves to show just how good he is."
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