Button parts with manager

Jenson Button has signed a new three-year management contract with Essentially Sport, it was announced on Friday. However the 24-year-old will sever ties with John Byfield, who controversially advised him to pursue a Williams drive for 2005 while still contracted to BAR. Byfield will step down as the company's chairman and CEO with immediate effect although he will stay on in an advisory capacity. A successor has yet to be named

A split between Button and Byfield had been rumoured since the 'Buttongate' saga broke in the summer. Acting on Byfield's advice, Button signed a contract with Williams that was eventually declared invalid by Formula 1's Contract Recognition Board - but not before an unseemly wrangle between the various parties that damaged Button's golden boy image.

Essentially Sport said in a statement: "CEO and chairman of Essentially Group, John Byfield, announces that he will be stepping down from the Board with effect from 1 January 2005. Having helped the Group to achieve its initial goals he leaves the business well positioned for future growth and development. Mr Byfield will remain with the company using his in-depth knowledge and skills to focus upon its motorsport interests. The Board will announce his successor shortly and expects to make an announcement in early 2005."

Duncan Hickman, a non-executive director who will take over as interim chairman and CEO, said: "I am delighted to announce that the company has signed a new three-year commercial agreement with Jenson Button."