Formula One news

Williams remain positive over future

Williams F1's CEO has explained that the team has a "positive" future, despite the loss on Wednesday of key sponsor RBS.

Adam Parr, Williams CEO

Team CEO Adam Parr is still upbeat towards the future of the team despite the obvious disappointment following yesterday's announcement from the Royal Bank of Scotland. "I know it is very difficult to paint a positive picture at the moment," Parr explained to Autosport, but stressed that a combination of the team's strong corporate background and F1's recent cost-cutting rules present a more than salvageable situation.

Parr also explained that certain team principals, somewhat oblivious to money in the past few years, now understand that it does matter to their teams. He continued: "In order for Williams to be competitive and be in the frame in the past two or three years, we had to spend beyond our means. For the next two years we will not need to do that, and will be paying off a significant chunk of debt. We are now seeing a scenario where our means are not dissimilar to the rest of the teams."

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