We'll make our mark!

BMW Williams F1 drivers Ralf Schumacher, left, and Juan Pablo Montoya pose beside the new race car, the FW26

And he hopes his revolutionary new FW26 car will be the one to do it, although it will be a highly competitive field.

He said: "We have a good car but Ferrari are obviously still the one to beat. Renault could cause some embarrassing surprises too but it's folly to underestimate McLaren. They'll be there when it matters."

Sir Frank is also full of admiration for Ferrari driver Michael Schumacher and his team.

He added: "I would like to have seen him in a car of ours!"

The Williams team have pinned their hopes on the new car ending their longest losing streak in Formula One. It was 1997 when they last enjoyed some silverware.

The car features a twin-keeled front-end design that has never been seen in the sport before.

Sir Frank also has confidence in his drivers, Ralf Schumacher and Juan Pablo Montoya, despite Montoya announcing in November that he will be joining McLaren in 2005.

He has also re-emphasised his commitment to the team staying at its headquarters in Grove, despite rumours that rivals such as Brackley-based BAR may uproot to Japan because of the ongoing row over a ban on tobacco sponsorship in Europe from 2005.

He said: "We don't have any tobacco sponsorship and so it basically does not affect us."

But he said the team would be faced with a gruelling season of 18 races, two of them in countries they had never raced in before.

He reckoned that each overseas grand prix would cost the team £430,000 more than their European equivalents and this would stretch the Williams budget far more than richer rivals such as Ferarri, Mercedes McLaren, or Renault.

The two new events are both outside Europe: in Shanghai and in Bahrain. He said costs of running a motor team were rising by about ten per cent a year.

Meranwhile, the Williams team is still building its new wind tunnel at its Grove site and this will spell more job opportunities.