He expressed his frustration over the news reporting of RBS' quit by Britain's public broadcaster, who overreacted in their explanatory notes concerning the subject. According to Sir Frank Williams, the BBC presented the news as “the end of the world for Formula One”, which was far off to say the least from a correct and journalistic approach on the matter.
“The stories by the BBC expressed doom and gloom. (It) was presented in such a way that it was the end of the world for formula one. That is totally, totally untrue and incorrect,” insisted Williams earlier this week, during a media event at his team's facility in Grove, UK.
The RBS will continue its sponsorship deal with Williams F1 until the end of 2010, but will progressively cut down on their F1 expenses year after year. The budget for 2009 will be cut by almost 25 percent, while sponsorship for the next and last year in Formula 1 will be further decreased by 50 percent.
In the meantime, RBS have announced they will cut all trackside advertising in Formula 1 in 2010, as long as it will contractually become possible.
“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,” said Andrew McLaughlin, RBS group director of Communications.
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