Williams is to retain drivers George Russell and Nicholas Latifi for 2021.

The Grove outfit announced the decision on Twitter less than half-an-hour before today's drivers' press conference was about to begin.

"Looking forward to seeing these two continuing to do their stuff with the team next year," tweeted the team alongside a picture of the pair.

While the new was greeted warmly by race fans, many were hoping to see George Russell, a member of Mercedes youth squad, move up the ladder, possibly alongside Lewis Hamilton.

Only last week however, when asked if he was looking at moving up to the works team, the Briton admitted that his future is in Claire Williams hands.

"Obviously, Mercedes are my managers, we've been in talks, we're always in talks, on a weekly basis, almost daily basis, for the past two years," he told reporters last Thursday. "And those talks have, you know, increased, as I'm pushing for my future.

"But like I say I know what I need to do, which is just perform to my maximum on track," he added. "I do have a contract for next year with Williams, so you know ultimately it's potentially in Claire's hands of where my future lies."

Speaking at today's press conference, the Briton confirmed his plans.

"I will be staying with Williams for 2021," he said. "I signed a three-year deal with Williams and I'll be staying there for 2021 to build off last year and hopefully what this year hopefully turns out to be.

"Claire was very firm with her decision that she was not ready to let me go," he continued, "and ultimately as I have a contract with Williams, I have to respect that decision.

"I'm here and I will be giving everything I have this year and next year and let's see what the future holds after that."

Latifi, whose father has loaned money to the team and is the man behind a number of its most recent sponsorship signings, was always likely to be retained.

No official press release has been forthcoming as yet.

Check out our Thursday gallery from Budapest, here.