Williams is looking for a new title sponsor after its contract with AT&T expired at the end of 2011.

9969 - Williams seeks new title sponsor

The US telecommunications company had been the title sponsor of the team since 2007, reportedly at a cost of around £4.5million ($7m) per year. The team lost two other main sponsors in Phillips and RBS at the end of 2010 before enduring a disappointing season last year, and a team spokeswoman confirmed to Reuters that the deal with AT&T had not been renewed.

"We have reached the conclusion of our partnership, the contract expired on Dec 31 by mutual agreement," the spokeswoman said.

AT&T Williams branding had been removed from the team's official website on Tuesday, with reports suggesting that growing ties with Qatar will lead to a title deal with the part state-owned Qatar National Bank.