The global economic crisis has hit banks very hard and the Royal Bank of Scotland is not different. So much so that it has admitted it is scrutinizing its investment in formula 1. Specifically RBS represents Williams F1 and Sir Jackie Stewart and the loss of their involvement would not be the first sponsor to leave Williams as Lenovo and Petrobras both left as well.
This news comes on the heels of another story this week that Williams may not have survived had the FIA and FOTA recently agreed to drastic cost-cutting measures. These measures apparently saved Williams from financial collapse according to Adam Parr and Bernie Ecclestone announced that he had sent 15 million euros to the beleaguered team as a pre-payment typically reserved for teams willing to extend their contract with him.
Let us hope RBS stays and Williams find some success in 2009 to garner new interest in their operation.
