Williams receives support package from FedEx.

While the BMW WilliamsF1 Team presentation reflected a high degree of stability in key areas such as driver line-up, the 2002 FW24 livery did bear the identity of a new team sponsor - FedEx.

The widely recognised logistics company's logos appeared on the front wing of the new FW24, which will be driven by Ralf Schumacher and Juan Pablo Montoya in the coming season, as well as on the helmets and racesuits of the two drivers.

"We are absolutely delighted with the sponsorship," commented Robert W Elliott, president of FedEx's Europe, Middle-East and Africa division, "The sport so closely reflects our core values of speed, reliability, technology and teamwork that it is an amazing fit for us, and it is great to be associated with BMW WilliamsF1 Team - a team that will be challenging for the World Championship title in 2002."

Interestingly, FedEx logos were previously best associated with reigning world champions Ferrari and Michael Schumacher, but the US company has inked a long-term deal with the grove operation.

"We are honoured to be able to add a truly impressive global corporation and Fortune 500 mainstay corporation to our sponsorship portfolio," team principal Sir Frank Williams remarked, "For many years, we have been aware of FedEx's presence in F1, and I am delighted that they have agreed to join the team for the next three years."

The signing of FedEx, along with the recent announcement of PepsiCo's 7-UP sponsorship, means that the team enters the 2002 season in a strong commercial position. Despite the loss of Nortel Networks from its roster, Williams continues to boast the support of Compaq, Allianz and Veltins amongst others.