F1 Side Williams On The Hunt For Title Sponsor

Formula One side Williams is looking to secure a new title sponsor after the ending of their partnership with major telecommunications player AT&T.

The news comes as little surprise as rumours of the two companies parting ways had circulated for some time.

Williams endured their worst season in history finishing ninth in the Constructors Championship with only five points.

A team spokesman said, ambulance “We have reached the conclusion of our partnership, the contract expired on Dec 31 by mutual agreement”.

The deal between the British team and the American firm was reportedly worth £4.5 million a season.

William’s loss of their key sponsor mirrors the departure of RBS and Philips at the end of 2010.

A team source informed Reuters that negotiations were already in advanced stages with another telecommunicatons firm for title sponsorship. They also stated that the AT&T deal had not been ‘sustainable’.

Williams have boosted their income over the last twelve months by floating Williams Grand Prix Holdings on the Frankfurt Stock Exchange.

Team Driver Pastor Maldonado also brings in sponsorship revenue though Venezuelan state oil company PDVSA.