Williams affirm commitment to F1

Williams have insisted that they will not suffer the same fate as rivals Honda who withdrew from Formula One last week due to the global financial downturn.

The Grove-based squad is one of Formula One’s most successful and long-standing independent teams, spearheaded by Frank Williams and Patrick Head for over thirty years.

And despite seeing the global credit crunch bite Formula One hard, the team have affirmed their commitment to the sport after securing a full budget for 2009.

“We are unequivocally committed to F1,” a spokesman told BBC Sport. “Unlike many of our competitors who are owned by car makers, for us the consideration to stay involved is superfluous, as we only exist to race.”

“We have been involved in F1 for three decades, through conducive and adverse economic circumstances alike, and we have every intention of racing for at least another 30 years,” he said.

“We have 90% of our operating budget in place for next season.”