Williams has just announced that RBS will stay with the team this season and next, but that the sponsorship will finish at the end of 2010.
RBS is conducting a review of all its sponsorships in light of the critical situation in the banking sector and the huge corporate losses shortly to be announced.
The partnership with Williams began in 2005 and was renewed in 2007 for three seasons.
RBS points out that sponsorship costs have been reduced by 25% for this year and 50% in 2010 while hospitality has been cut by 90%. RBS has made further cuts by slashing trackside advertising for 2010.
RBS noted that Williams “have been very supportive in finding ways to reduce costs over the remainder of our contract. THis early announcement allows Sir Frank and his team to plan ahead financially.”