"Williams will close" without budget caps

Liberty Media has been urged by Williams bosses not to back down from plans to introduce an F1 budget cap in 2021.

Deputy team principal Claire Williams, praised proposals from Liberty, which includes a budget cap of 150 million dollars from the start of the 2021 season.

“If I look at it from my perspective, if we don’t do this, then Williams will close, the whole of the company,” Williams said.

“I was very positive about it, but then there are some of the people that are very negative about it.

“We are lucky that this works for us, but it think it probably demonstrates the fact that our team, track performance aside, is a good model of how a Formula One team should be operating in our sport.”

A budget cap of 150 million, means that larger teams will likely be required to reduce their staff numbers, but Williams will not.

“I don’t know the exact numbers and yes, of course it’s going to be difficult for teams to restructure and reorganise, and yes, of course the thought of anybody losing their job as a result is not something we welcome in any way, shape or form.” Williams added.

“It pains me to say, but sometimes you have to look at the bigger picture for the sake of the sport.”