From GMM

Williams, the only team not backed by a car manufacturer or a billionaire individual, is in favour of imposing salary caps in formula one.

Frank Williams, the co-owner and boss of the Oxfordshire based squad, while happy with the newly announced cost cutting measures, believes the concept - already in force in many sports codes - would be an effective way to further reduce costs.

"We've raised this issue several times and will take the opportunity to do so again," Sir Frank Williams told The Times.

"We'd also strongly support a budget cap, introduced gradually, if it could be properly policed."

When the FIA recently proposed budget capping, the concept would have excluded driver and top management salaries.

In cases such as Renault and Fernando Alonso, a driver salary in formula one can near 20 per cent of a team's total budget.

Despite Williams' recently reported debt and lost sponsors, however, Sir Frank insists his team will not follow Honda out of the sport.

"Our budgeted income for next season is more than 90 per cent of what it was last season," he said.

In fact, he hints that the current predicament, with the world entering recession and carmakers rethinking their participation, could work in Williams' favour.

"It was always in the back of my mind that having them all in the sport at the same time, driving up the costs, could be a temporary phenomenon."


Photo Credit : Williams