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RBS Confirms Plans For F1 Sponsorship
25 February 2009: RBS and the Williams F1 team today announced that their partnership will
conclude at the end of the current contract in 2010. The partnership began in 2005 and was renewed
for a second three-year term in 2007.
Andrew McLaughlin, RBS Group Director, Communications, said:
"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."
Sir Frank Williams, Team Principal of Williams F1, added:
"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."
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