Williams announces Baugur money

Williams has announced two new sponsorship deals and although the team is not saying it openly, both are owned by Baugur, the Icelandic company that had been tipped as a potential investor in the team. Our sources say that this deal has not gone ahead but that this does not mean that Baugur will not be a big sponsor, even if the company decides to use different brands.

The first sponsorship is from mydiamonds.com, a new diamond jewellery website to be owned by Aurum Holdings, the Baugur-controlled owner of Goldsmiths, Mappin & Webb and Watches of Switzerland. The aim is clearly to use F1 to spread the word about this interesting new online business.

The team has also announced a sponsorship partnership with All Saints, the rapidly growing fashion label. This is also controlled by Baugur and is growing fast and the involvemnt in F1 is obviously designed to grow the business.

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