The AT&T Williams F 1team announced the renewal of their previous partnership with Renault. Renault will supply the Williams team with their V8 engines in 2012 and 2013. This is another piece in several changes that the Williams team has and is making in order to return the team to success. 

For Williams chairman Adam Parr the various changes are such that sees them making the team more competitive in future seasons. Despite the fact that such changes normally take a period of time to produce results for Parr he sees no reason why things shouldn't improve even as early as 2012.

When asked about how quickly its switch to Renault engines will produce results Parr is very positive saying that it could even see an improvement in 2012.

"Why not? The margins are so slim in F1. I see no reason why we cannot make the progress next year that we should have done this year. And it will not just be down to the engine, it will be down to everything."

As for the changes Parr spoke of his pride in the teams achievement and drive to make the necessary changes.

Parr added: "I am very proud of what we have done in the last two or three months because we have obviously had a very decisive review of the technical side and where we have been weak and where we need to go."

"The new people that we are bringing in are first class and we are very excited about that. Then secondly we announced the Jaguar partnership in May which is very significant for us as a company, and a bit of a positive for the team as well.

"Then today, it adds another substantial element to our foundations as a team and a company. If you add an IPO in March, it has been a busy six months really.

"I think we have got all the ingredients. I am very excited. And things are looking more positive. The on-track performance is not there, but it is better than it was and we can see light at the end of the tunnel. We can see where we are going now and it looks quite exciting."

"When you are in a situation like this you have to be bold," he said. "There is no way that you can just plod along and do the same old stuff and it is going to sort itself out. It doesn't happen like that.

"Every decision we have made just made perfect sense. Referring to Mike [Coughlan], he is a joy to work with. He is totally motivated, he works seven days a week, he has tremendous experience, he has lost none of his flair and his understanding for what we do. And if other people don't see that, then great for us. Long may it live!"

Parr said that the return of Renault would also give the team no excuse to blame its engine for a lack of results on track – and said his outfit had tried to secure a manufacturer tie-up with current engine partner Cosworth.

"You never know in F1 where your weak points are, so if you can eliminate them, then so much the better," he said.

"This deal will make a number of fundamental differences. First of all it is a world championship winning engine, and we are in a world where a tenth matters. Secondly, it is a partnership between us and an independent engine maker as well as a car maker, and that is very important.

"We did explore that with Cosworth – could we bring a car maker into the partnership? Unfortunately we were not able to do that. From that minute onwards, it is Cosworth who said that we cannot develop an engine for 2013, and I can understand that because it is a huge investment.

"The other thing is for our partners, and for our drivers, and for our colleagues. It sends out a message that we are going to get back, and it is a sign of great encouragement."

Despite Parr's optimism for Williams F1 team boss Frank Williams is more cautious in regard to the teams future prospects.

"On the face of it, people will assume Williams-Renault back together is a great story - watch the winning happen," said Williams, "but I remind people F1 never stands still, what we achieved in the 90s is no guarantee of what we can achieve in the future.

"Renault can win races and does still win races, and we have ahead of us at Williams a steep mountain. We will climb it, how long it will take us we don't know but we will deliver our side of the bargain. I'm really thrilled and delighted and slightly nervous."