Formula One news

Stewart working for free in 2009

Sir Jackie Stewart is to work in F1 for no charge in 2009, following the large losses announced by sponsor Royal Bank of Scotland. Scot Stewart has been working with RBS since 2004, which has announced losses of £24bn for 2008.

The RBS-Williams partnership ran between 2005 and 2009

Stewart, Formula 1 World Champion of 1969, 1971 and 1973, announced he is not expecting payment from RBS this year, in a bid to help the establishment recover during the economic crisis. In a press release issued by the bank, Head of Communications Andrew McLaughlin commented: "He has worked tirelessly and with great success for the group over a number of years. His commitment and loyalty at such a challenging time in the company's long history is greatly appreciated by everyone at RBS."

The bank has also withdrawn from its long-time sponsorship of the Williams team this year as well as with tennis star Andy Murray. McLaughlin added: "Having Jackie's energy and talent focussed on our customers, charity partners and communities in the coming period will be our shared priority."

The company will receive a free year of services from Stewart in 2009, whose current contract will not expire until 2011.

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