WilliamsF1 confirms Budweiser deal

The team will run with branding above the drivers' name on the airbox of the WilliamsF1 BMW FW25 as well as on Juan Pablo Montoya's and Ralf Schumacher's race suits from this weekend's British Grand Prix onwards. The team declined to disclose any financial details but the deal is believed to be worth something in the region of £50 million. The team sees the deal as good way to tap further into the US market, which it feels F1 is only beginning to scratch the surface of.

"It's significant that it's an American sponsor because F1 is not yet fully established in the USA," said team principal Frank Williams, "despite the best efforts of our promoter Bernie Ecclestone. We are anxious to be far more visible and this is a step towards that aim.

The deal is said to have come together in just two months, and rumours in the German press suggested that WilliamsF1 had beaten Ferrari to the deal. "Figures I won't mention," said Williams. "It's a business deal which is very useful to us in our aim of winning the world championship. All I will say is that Budweiser have been very generous. We learnt that they were looking at F1 and our marketing department was very adept at persuading Tony to run with us."

Tony Ponturo, VP global media and sponsorship marketing, Anheuser Busch Company said: "We are very excited to be a part of F1, and more importantly with the BMW WilliamsF1 Team. F1 is a place we needed to be. We have a strong base in the US, but this gives us a year-in, year-out reach around the world in expanding our business."