Official statement from Williams F1

Williams F1 confirmed that it had reached an agreement with Jenson Button to release him from his commitment to the team for the 2006 season and beyond. Jenson agreed a financial settlement with Williams F1.

Jenson Button appreciated the efforts that had been made to find a solution.
Jenson button "I would like to thank Frank for accommodating a compromise to what was a binding contract and I regret the difficulties my decision has caused everyone involved."

Sir Frank Williams "I'm glad that we have brought this matter to a conclusion and we can retrun to what we do best- racing."

On July 16 Frank Williams insisted that Jenson must honour the terms of the contract with the team.
Frank Williams "Williams have a fully binding, straight forward contract. Jenson is emphatically not for sale. We have a proper and correct legal right. We require him to be here, our sponsors are predicated on his presence - we have promised. He is part of our plans and our plans have been well exposed to our commercial partners. There is no let up. It is clear to understand. Once you give your word you need to keep your word."

No on september 21, Frank Williams and the Williams F1 team have released Jenson Button for a large amount of money.