RBS to exit F1

The Royal Bank of Scotland confirmed today that it is to cut sporting sponsorship drastically.

One major company to be effected is Williams, who currently enjoy significant sponsorship from the struggling financial institution.

RBS is however to honour its existing contract with the team until the end of the 2010 season but like Dutch-based banking rival ING, will not be represented in trackside advertising next year.

As the global recession depends, pressure has mounted on RBS and in a statement this evening it emerged that 'non contractual costs (F1) have already been reduced by over 50 percent and the company has made further savings by cancelling trackside advertising for 2010. In all RBS sponsorships, hospitality costs in 2009 have been reduced by around 90 percent.'

The 70 percent state-owned bank, set to confirm a massive restructuring process, is due to post its end of year financial results on Thursday and it will undoubtedly be grim reading. RBS sponsorship of the Williams team is said to be in the region of 22 million Euro per season.

Sir Frank Williams, Team Principal
“RBS has been a great partner for this team and we are pleased to have made our contribution over the past four years to developing the RBS brand internationally. Thanks to the support of RBS and our many other loyal partners, we are in a strong position to ride out the inevitable challenges of the next two years. "

"RBS is showing great responsibility to the role that we play in the British economy, supporting over 500 highly skilled technology jobs in a sector in which Britain leads the world. In the last three years, Williams has spent over £100 million with 2,700 UK suppliers and it is of course important that this business endures.”

Andrew McLaughlin, RBS Group Director, Communications
“We recognise that we are now operating in a very different economic environment and have been reviewing all of our activities since October. It is imperative that we respond to the reality of the situation we face and that we do so in an orderly way that respects the commercial agreements we have in place and the implications for our partners and the jobs they support."

"Throughout our relationship, Williams have shown great understanding and innovation in driving the programme forwards. They have been very supportive in finding ways to reduce costs over the remainder of our contract. This early announcement allows Sir Frank Williams and his team to plan ahead financially.”

E.A. © CAPSIS International

 

USF1, the newly-announced American Formula One team, has no plans to begin testing this year, it has emerged.

Despite Principal Ken Anderson revealing that talks with manufacturers about an engine supply will shortly begin, the team is quoted as ruling out the possibility of hitting the test tracks until early in 2010.

"Even though we will sign an agreement with an engine manufacturer in the next months, this (agreement) will not begin until January 1st 2010," a USF1 official is quoted as saying in French by sport24.com.

Source: GMM
© CAPSIS International

 

Rubens Barrichello's name has been mentioned in speculation about the formation of the first USF1 driver line-up of 2010.

The Charlotte-based outfit intends to field American technology with two US-born drivers at the wheel, but Peter Windsor confessed that it might be wise to begin the foray with at least one experienced racer.

"In year one, certainly there is an argument for having an experienced Formula One driver in the car," the Briton is quoted as saying by The Guardian newspaper.

"There's definitely an argument for that, and then maybe having a young American in the other car," Windsor added.

Reports mentioned the name of Barrichello, the South American veteran of a record 271 Grand Prix, who having driven for Honda until 2008 is likely to be without a seat this year.

Source: GMM
© CAPSIS International

 

A Bernie Ecclestone-backed karting series will support Formula One races in Europe beginning in 2010.

British-based Formula Kart Stars, formerly the Stars Of Tomorrow series, was launched recently with 2008 world champion Lewis Hamilton in attendance.

Organisers said the series could spread to overseas Grand Prix in the future, and 23-year-old Hamilton is the official patron.

"He has always been supportive of the championship and has remained involved ever since he raced with us more than 10 years ago," said series Director Carolynn Hoy.

Source: GMM
© CAPSIS International

 

A Williams spokesman has confirmed that leaked photographs do depict the Grove team's new livery for the 2009 season.

Photos on the internet, originating apparently from marketing material of the sponsor Allianz, show the Toyota-powered single seater with a dark blue and white livery very similar to the paint-job of 2008.

The main differences are the locations of the sponsor names, including the replacement of Lenovo on the forward-facing rear wing with the electronics brand Philips.

It is reported that the 2009 livery photos date back to the Portimao test, when Williams reserved the circuit for a day for marketing purposes.

A spokesman told the Dutch publication Formule 1 Race Report: "The picture is a modified FW30 showing the 2009 colours."

Williams has been using an interim winter livery at the pre-season tests, with the official launch of the 2009 colours to follow.

Source: GMM
© CAPSIS International

 

Max Mosley will tour the EUR district of the city of Rome, amid rising speculation a street Grand Prix in the Italian capital is a real probability.

Corriere dello Sport, a Rome based sports daily, said the FIA President's visit - while he is in the area on other business - is scheduled for next week.

An inaugural Grand Prix in the area has been touted for 2011 or 2012, with the reported backing of F1 Chief Executive Bernie Ecclestone as well as the Mayor of Rome Gianni Alemanno.

It is suggested that Mosley will meet with prospective promoter Maurizio Flammini during his visit, as well as with local authorities.

Source: GMM
© CAPSIS International

 

Some interesting news today! It'd be weird to see Rubens driving for USF1. I can understand why they'd consider him, and he does have a lot of great experience, but I dunno... If you're gonna start an all-American team, do it with all-American drivers!

 

My feelings exactly it should be all American but you kinda understand why they'd want a seasoned driver as a start up

 

I don't think it would be a bad idea for USF1 to employ Rubens in their first year as long as their other driver is an up and coming young American.