Williams is set to unveil a new live𝓰ry before the start of the 2020 Formulaꦐ 1 season after splitting from title sponsors ROKiT.

The British squad confirmed on Friday that it had terminated its main sponsorship deal with ROKiT with immediate effect, despite last year agreeing a new long-term extension of the partnersh♛ip until the end of 2023.

Deputy team principal Claire Williams insisted the team “met all of our contractual obligations to ROKit” and revealed that its original livery for 2020 w💯ill be changed ahead of the planned season opener in Austria in July.

"Obviously the livery is something that we've got to look at when we go racing again, hopefully in July,"&nbꦯsp;she said.

"F1 has put a mark♐er in the sand for 5 July. We will unveil our new livery before we hit♕ the race track.

The Williams F1 team and wider company group are up for sale as part ofℱ a “new strategic direction” to secure its future after pꦿosting a £13m loౠss last year.

Williams has suffered losses off the back of difficult ꦦseasons in 2018 and 2019 and it is also feeling t🐻he effects of the coronavirus crisis, although its latest financial results do not go not include impact of the COVID-19 pandemic.

Williams stresseไd her family would like to retain the Williams name in F1, despite acknowledging that an incoming buyer could decide to r꧑ebrand the team.

“It’s too early probably to hypothesise on what the team could 💞and couldn’t be called,” Williams explained. “I think the Williams family would certa💛inly always like to see the Williams name in Formula 1.

“It certainly d♒oesn’t mean that this team won’t continue to race for many years to come. This for us is about securing the future of our team and making sure that we have a successful future to the generation of inward i🐲nvestment.”