Williams Commits To F1 Future Despite Row

Williams F1 has become the first team to confirm it will enter the 2010 World Championship as a compromise deal between the teams and world governing body the FIA over the proposed £40m budget cap for next season edges closer.

The Williams announcement comes as a solution to the ongoing budget cap row seemed to move a step closer following a series of meetings between the FIA and the Formula One Teams’ Association (FOTA) at the Monaco Grand Prix over the weekend.

Ferrari, the longest-running team in F1, has led threats to quit the sport – along with Toyota, Red Bull and Renault – if planned regulation changes are enforced next season.

However it is thought that the teams have agreed in principle to delay introducing the budget cap until 2011, on the proviso that FIA president Max Mosley made other concessions to the teams on governance.

As a consequence the teams may also receive more money from F1 supremo Bernie Ecclestone, who runs the companies which control the sport’s commercial rights.

Williams chief executive Adam Parr said the team felt ‘morally and legally obliged’ to make it clear the team will participate in F1 in the future.

Said Parr: ‘We owe it to our employees, sponsors and fans who are affected by statements that teams may not enter next year.

‘The unity of FOTA is of paramount importance to Williams. We will continue to work within FOTA and with Formula One Management and the FIA to find a compromise but no-one should be in any doubt about our commitment to the FIA F1 world championship.

‘We believe that under the leadership of Ferrari president Luca di Montezemolo and Toyota motorsport president John Howett, FOTA has extracted some very significant concessions from the FIA.

‘These include not only the procedural aspects of the budget cap but also other elements that will enable the higher budget teams to participate.

‘Having said that, Williams has, and has always maintained, that we have a binding contract with both Formula One Management (FOM) and the FIA to participate in the world championship from 2008 to 2010.’

The FIA wants to introduce an optional £40m budget cap in order to encourage new teams to enter. Those teams operating under the budget will be allowed far greater technical freedom than those continuing with unlimited funds.