Gates to become Toyota sponsor

June 20, 2004 18:54 IST

Microsoft Corp chairman Bill Gates wants to become Toyota's chief Formula One sponsor with an investment of $40 million a year in the Cologne-based team, the Bild am Sonntag reported on Sunday.

The newspaper said Toyota was also trying to land Sony as a major sponsor for the team that has an annual budget of $400 million.

It also said Toyota would announce at the British Grand Prix in Silverstone next month that Williams driver Ralf Schumacher will switch to Toyota next season with a five-year $100 million deal.

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