The BMW WilliamsF1 Team today acknowledged the verdict delivered by the Contract Recognitions Board (CRB) that Jenson Button is legally bound to BAR for the 2005 season.

The team also confirmed that it would not seek to challenge the judgement under any other legal jurisdiction.

"Naturally we are disappointed with the CRB's conclusion. We took the view that Jenson was a driver worth challenging for, and based on strong legal advice, we have no regrets about making a bid for his services," said BMW WilliamsF1 Team Principal Frank Williams.

"The CRB accepted a significant number of the BMW WilliamsF1 Team's arguments, but nevertheless found against us. We do not believe any further legal action in relation to this matter to be in the broader interests of the sport. In spite of the CRB's conclusion, which relates to 2005, we will maintain our close relationship with Jenson for 2006," added Williams.

"Naturally I am disappointed by the ruling, but as a matter of principle, I firmly believe in standing by the decision the CRB have reached today. BAR have been extremely professional at the race track during this process, and I expect this to continue. I look forward to joining the BMW WilliamsF1 Team in the future," commented Button with regards to the decision.