Mar.1 (GMM) Williams and BMW turned down an opportunity to sign Lewis Hamilton, Patrick Head has revealed.
In a Williams media lunch for British reporters, the team's veteran co-owner and engineering boss said the 23-year-old driver and his father Anthony Hamilton attended a meeting at Grove in 2004.
"They came in and said 'Ron Dennis has dropped us'," Head explained, harking back to Hamilton's stint in the F3 Euroseries.
He explained that Sir Frank Williams proposed to the British team's then engine partner BMW, led by Mario Theissen, that they take over the backing of the promising youngster's formative career.
"I think Mario said they weren't prepared to provide any support and we weren't in a position financially where we could finance his racing," Head added.