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Williams supports Concorde Agreement 08 Mar 2003

Frank Williams
Formula One World Championship, Rd1, Australian Grand Prix, Albert Park, Melbourne, Australia, 7 March 2003

Sir Frank Williams says that he firmly supports the current Concorde Agreement and will honour its clauses, regardless of his intention - in conjunction with McLaren - to take the FIA to arbitration over implementation of new regulations for 2003.

"I earnestly believe teams will take care of Paul Stoddart," he said in Melbourne. He continued, saying that in similar past crises "a number of teams, usually the same teams, coughed up in silence and without complaint. Why? Because we have signed a document and because we believe the document. Next time around, I hope there is more up for grabs, more money for everybody. Maybe there will be - it depends how good we are at negotiating. But right now we are honouring our commitments to the Concorde Agreement, that's why we are all here today."

Williams said that the arbitration was a private matter that would take a long time. "It is one lawyer working in the Swiss Chamber of Commerce. He will deliberate the matter and will make his own decision in due course. But it could take up to five months. In the meantime, we are here to go racing."