Williams Choose Not to Sign GPMA Deal

A report in The Times on Monday suggested that Williams' decision to not back the latest document put forward by the Grand Prix Manufacturers' Association was probably a precursor to the team reaching a deal to remain in Formula One.

But a Williams spokesman said on Monday that the team were simply focused on finding the best solution for the future of the sport - and did not want to approach this in a confrontational manner.

"It is correct to say that Williams is not yet a signatory to the (GPMA) agreement, but we do not consider it appropriate to discuss the reasons for this at the moment," said Williams.

"We will continue to work for a resolution that is in the best interests of both Formula One in general, and Williams too, in a non-confrontational manner."

Williams and Toyota have been rumoured to be the two teams closest to following Ferrari, Red Bull Racing and Jordan into agreeing terms with Formula One supremo Bernie Ecclestone to remain in F1 from the start of 2008.

Ecclestone is believed to be offering teams 50 percent more cash than they currently receive if they agree to his package from the start of 2008.

Speaking to The Times on Monday, Ecclestone said: "They know what is on the table and they know I mean it. If you sell something at Harrods, it doesn't mean you want to own the store with all the risks and overheads.

"That is what these people in the GPMA want, but the Formula One brand has been running for more than 50 years and we have been running things very well for 30 years, taking the risks and giving them plenty of money.

"It is up to them to decide if they can do a better job and take that risk."