Claire Williams admits she would have "loved" to have signed Jenson Button to race for Williams in 2017.
The Briton was linked with a return to the team with which he made his F1 debut in 2000 after it became apparent Stoffel Vandoorne would take his race seat at McLaren.
Instead, Button has agreed a new two-year deal to remain at McLaren which will see him become a company ambassador while a return to a race seat in 2018 at the Woking squad hasn't been ruled out.
"Everyone knows that we were quite interested in Jenson - and why wouldn't you be? He's a great talent and he would be a great driver for anyone to have in their team," Williams told Sky Sports F1.
"Saturday's announcement is a real shame for the sport and comes off the back of Felipe [Massa announcing his retirement].
"We're losing two great drivers from the sport, legends. I would have loved to have Jenson in this team, but unfortunately it didn't work out. I wish him all the best.
"I would have loved to have seen him in Williams...a British driver in a British team has been a dream of mine. You never know, one day."
Don't miss the F1 Report for the analysis of the Italian GP. The Telegraph's Daniel Johnson and former McLaren mechanic Marc Priestley join Natalie Pinkham in the studio at 8.30pm on Wednesday.