Jenson Button is to rejoin Williams from next season, the Formula One team said.
Button started his career with Williams in 2000 as 20-year-old before moving on to Benetton -- now Renault -- and his current team BAR.
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In a press release on Thursday, Williams said Button had "signed for the team for the 2005 season and beyond". Media reports said he had penned a two-year deal.
"I am very pleased that I had the option to re-join the BMW Williams team where my Formula One career started," Button said.
"For the meantime the 2004 season has my full focus and attention.
"Beyond this, I have every confidence that the massive investment in resources and the depth of talent at Williams and BMW provides the best platform for my future ambitions to be a world champion."
Williams team chief Frank Williams said: "I am delighted that one of the most talented drivers in Formula One has accepted the opportunity to return to the team."
Button will join Australian Mark Webber, who moves from Jaguar, in a new-look Williams line-up next season. The pair replace Colombian Juan Pablo Montoya and German Ralf Schumacher who are moving to McLaren and Toyota respectively.
Williams currently lie a disappointing fourth in the constructors' championship on 47 points, 29 points behind third-placed BAR.
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