dom

HP ends F1 sponsorship deal with Williams

Williams F1

TSN.ca Staff

9/14/2005 8:15:02 AM

The Williams F1 team has suffered another blow with the announcement that computer giant Hewlett-Packard will end its sponsorship agreement with the team at the end of the year, one year before the current deal is set to expire.

HP has been a primary sponsor of the Grove-based team since 2000.

"We have met our objectives and it is a natural moment for HP to conclude our relationship," said Cathy Lyons, HP's executive vice-president and chief marketing officer. "We wish them all the best as they go in a new direction next season."

HP's decision was not a complete surprise as the company previously announced it would cut almost 10 percent of its workforce, or just over 14,000 jobs, worldwide in July. With that kind of layoff it was hard to see the company justifying the financial resources needed to sponsor an F1 team.

"HP has made an important contribution to the team over the last six years, in particular establishing a technology base and IT approach for us which we believe has put us at the forefront of F1 teams in this respect," said team owner Frank Williams, who is confident of filling the sponsorship vacancy on the car.

Williams are also set to lose engine partner BMW, which will enter its own Formula One team in the championship after buying the assets of Sauber.

The team is also embroiled in a contract dispute with Jenson Button, who has said he would like to remain with BAR-Honda rather than join Williams next season.

The team also announced it was switching from Michelin to Bridgestone tires in 2006.

astro

damn!

Frank is fucked!

NOVAwhiteTypeS

only a matter of time. hp needs to turn things around quick and dumping money in f1 probably wasn't one of their high priorities.

CL Platano

Exactly they need to give me a raise

CGTSX2004

iTrader: (1)

So...Williams drops BMW engines, and then loses HP sponsorship, which leaves them with pretty much nothing. Unless the rumors about their new engine supplier are true, looks like Williams may have to pull out next year.

F-C

Hmmm, pay ride drivers could be a good move by Williams. I wonder how much Albers and Doornbos brings to Minardi?

kurt_bradley

Fuck Williams. Go BAR!

I know it's kinda OT to highlight, but this part still has me all giddy.

Chief F1 Fan

So is Jensen-talk about the stupidest move possible. He signs a contract w/ Williams when it was doing marginally well, gets out of it and is forced to stay w/ BAR then now is likely going to be forced to go to a team that will be racing w/ Sauber (BMW), Red Bull and Jordan. No manfr. backed engines which will drain him further on top of a chassis that just doesn't work. Frank is definitely fucked all the way around. He shld sell the option on Jense to Honda for 50M and call it a day so he can afford to help Cosworth develop their engines.

gsclifton

iTrader: (2)

From reading in the latest F1 magazine (I think that is where I read this info) expect to see BAR pay a large sum of cash to Williams to retain Button. I also read that Honda may supply Williams with engines as well. However, Williams would not have both, meaning Honda engines AND Button

I had also heard several months back that HP would be ending their sponsorship to retain cash for higher more urgent needs.

I find it funny that this will be the 2nd Silly Season with Button in the middle of two teams.

Red Rider

And all for a guy who has never won a race!! Maybe we should start calling him "Jenica"

Williams can use the cash from Jenson to more than make up what they lost from HP, and I believe the Cosworth may surprise a lot of folks!!

The new rumor is Dan Wheldon from IRL, or if they were smart, they'd look into Sebastian Bourdais who is ready.