At the start of the 1976 season, Canadian oil millionaire Walter Wolf bought 60% of Frank Williams Racing Cars and the team became Wolf–Williams Racing. However, Frank Williams was retained as team manager. The team inherited the 308C car used by Hesketh Racing during the final races of 1975, rebranding it as the Wolf–Williams FW05. The FW04 was similarly rebranded as the Wolf–Williams FW04, although it was only used in the opening race of the season, the 1976 Brazilian Grand Prix. Laffite had left the team and two new drivers were brought in; Renzo Zorzi drove the FW04 (chassis "01"), outqualifying Jacky Ickx in the FW05 (17th and 19th), and both cars finished the race with Ickx eighth and Zorzi ninth. After this race, Wolf–Williams had two FW05s at their disposal and so the FW04 was put aside. Chassis "01" was then sold to Australian driver Brian McGuire.