JENSON Button will race for the Enstone-based Benetton team for the next two seasons in Formula 1, following a loan arrangement with BMW Williams.

Button, who has a home in Bicester, will leave the Grove-based Williams team after just one season, but team boss Frank Williams has insisted on keeping an option to re-sign the 20-year-old Briton at the end of the two years.

Button said: I will always be eternally grateful to Frank Williams and Patrick Head at Williams for giving me my great opportunity in Formula 1.

I have some unfinished business at Williams and I'm looking forward to the remaining races this season.

"I feel I'm on a constant learning curve and this year has been really exciting I cannot wait to get into the car again.

Button will drive join Italian Giancarlo Fisichella at Benetton under team boss Flavio Briatore.

The Briton added: Both Renault and Flavio have shown that they know how to win and I'm expecting their package to be excellent, which will enable me to continue to drive competitively."

Benetton are aiming to recapture their glory days when Michael Schumacher won back-to-back World Drivers' Championships in 1994 and 1995.

Button is expected to earn 3m over two years from Benetton and will replace Austrian Alexander Wurz.

Williams will, as expected, bring in Colombian driver Juan Pablo Montoya who races for the Chip Ganassi team in the CART championships in America.