Williams team principal Frank Williams

FOTA, the Formula One Teams’ Association has suspended the Williams team from the association after Williams decision to re-new their participation for the 2010 F1 championship.

Williams was one of the F1 teams amongst Ferrari, Renault and RedBull that opposed the proposed budget cap, but decided to break ranks and lodge their entry for next season instead.

Williams team principal Frank Williams was quoted, “Although regrettable, is understandable. However, as a racing team and a company whose only business is Formula One, with obligations to our partners and our employees, submitting our entry to next year’s championship was unquestionable. In addition, we are legally obliged under our contract with FOM and the FIA to participate in the world championships until the end of 2012.”

The $45 million proposed budget allows team who stick to it with more freedom, while those who goes beyond the cap face more restrictions.

This coming Friday is the deadline for teams to enter the 2010 championship.