Williams has been linked with a possible sponsorship deal involving Austrian water company BWT that could see its pink colours remain on the Formula 1 grid.

Reports have suggested that BWT is looking to continue its involvement in F1 after its sponsorship with Racing Point ended following the Silverstone-based team’s rebrand to Aston Martin for 2021.

The then-Force India squad switched to a startling new pink colour scheme ahead of the 2017 F1 season after it secured a major sponsorship team with the Austrian water technology company.

BWT was announced as the renamed Racing Point’s title partner last year after its previous title sponsorship deal with Sport Pesa was ended early. The company’s iconic pink colours were adopted as Racing Point’s livery for a total of four seasons.

Williams - which has been without a title sponsor since terminating its previous deal with ROKit last May - has now emerged as a possible destination for BWT and it has been reported that talks between the two parties have taken place.

The British squad is about to embark on its first season without the Williams family at the helm, with Frank and Claire Williams stepping down from their leadership roles after last year’s Italian Grand Prix following the sale of the team to US investment company Dorilton Capital.

When approached by Crash.net for comment, Williams refused to directly address the speculation linking it to BWT but revealed it is “shaping an exciting new brand direction and commercial strategy.”

A team spokesperson said: “Williams Racing is shaping an exciting new brand direction and commercial strategy and this is resulting in significant interest as we begin a new era for the team. By their nature, these discussions are confidential so as a policy, we do not comment on any specifics or speculation.

Crash.net understands that Williams has no involvement in energy drinks company Rich Energy’s brazen claims that it is about to make a return to F1, after its previous title sponsorship deal with Haas - who were also reported to have held talks with BWT - collapsed during the 2019 season.

Williams carried out a shakedown of its 2021 F1 car - the FW43B - at Silverstone on Wednesday ahead of its launch on 5 March.

While no images of the car were released from the filming day, a short teaser video on social media appeared to show Williams’ latest challenger sporting a plain all-navy livery.

The last time Williams ran one of its cars in a completely dark navy livery was at pre-season testing in 2014, just before Italian drinks firm Martini joined as a title sponsor.