Formula 1
Formula 1
R
Emilia Romagna GP
18 Apr
Race in
41 days
R
Portuguese GP
02 May
Race in
55 days
09 May
Next event in
59 days
23 May
Race in
76 days
R
Azerbaijan GP
06 Jun
Race in
90 days
13 Jun
Race in
97 days
27 Jun
Race in
111 days
04 Jul
Next event in
115 days
18 Jul
Race in
132 days
R
Hungarian GP
01 Aug
Race in
146 days
29 Aug
Race in
174 days
05 Sep
Race in
181 days
12 Sep
Race in
188 days
26 Sep
Race in
202 days
R
Singapore GP
03 Oct
Next event in
206 days
10 Oct
Race in
216 days
R
United States GP
24 Oct
Race in
230 days
31 Oct
Race in
237 days
R
Australian GP
21 Nov
Race in
258 days
R
Saudi Arabia GP
05 Dec
Race in
272 days
R
Abu Dhabi GP
12 Dec
Race in
279 days

Petrobras set to terminate McLaren sponsorship deal

McLaren's sponsorship deal with Brazilian oil company Petrobras looks set to be brought to an official end within a matter of days, Motorsport.com has learned.

Petrobras set to terminate McLaren sponsorship deal

Petrobras, which is 64 percent owned by the Brazilian government through direct and indirect means, announced last year that it would be tying up with McLaren from the start of this season with a long-term technical partnership.

But in May, Brazilian president Jair Bolsonaro took to social media to reveal that on his orders he wanted the original five-year partnership to be called off.

"In 2018 Petrobras signed an advertising contract of R$782m with McLaren, valid for five years," Bolsonaro tweeted from his official account.

"At the moment, the company, by decision of my government, seeks a way to terminate the contract."

It is understood that discussions between McLaren and Petrobras to end the deal have been ongoing since, although as recently as the Russian Grand Prix, McLaren CEO Zak Brown said that the team was still open about its future.

"As far as fuel and lubricant, we have a partnership with Petrobras, and provisions in our agreement to be able to continue down that path," he said when asked about its plans for the future.

However, the situation appears to have moved on, with papers published by Brazil's Ministry of the Economy this week claiming that the deal is to be finished.

The document, which ran through the government's financial plans, said: "An unjustifiable Petrobras sponsorship agreement for the McLaren Formula 1 team - worth £ 163 million - has been terminated."

Despite the indications from Brazil, however, McLaren has declined to elaborate further.

A spokesman for the Woking-based team said: "Such matters are commercially confidential and therefore we are not able to comment further at this time."

Read Also:

shares
comments
Abiteboul: 2019 "by far the most difficult season" for me

Previous article

Abiteboul: 2019 "by far the most difficult season" for me

Next article

Why F1 teams fear 2021 rules will lead to 'GP1 racing'

Why F1 teams fear 2021 rules will lead to 'GP1 racing'
Load comments

About this article

Series Formula 1
Teams McLaren
Author Jonathan Noble
The defining traits that set F1’s best apart Prime

The defining traits that set F1’s best apart

What makes the very best drivers in Formula 1 stand out among what is already a highly elite bunch? Andrew Benson takes a closer look at those with the special blend of skill, judgment, feel and attitude that sets only a select few apart from the rest.

The updates Williams hopes will lead to a point-scoring return Prime

The updates Williams hopes will lead to a point-scoring return

After producing a car which demonstrated progress but lacked the points to prove it last year, Williams starts its new era of team ownership with the FW43B, its bid to continue the climb up the Formula 1 grid in 2021

Formula 1
Mar 5, 2021
How Ferrari plans to recover from its 2020 F1 nightmare Prime

How Ferrari plans to recover from its 2020 F1 nightmare

The 2020 Formula 1 season was Ferrari's worst for 40 years as it slumped to sixth in the standings. A repeat performance will not be acceptable for the proud Italian team, which has adopted a notably pragmatic approach to forging its path back to the top

Formula 1
Mar 4, 2021
Why Aston Martin’s arrival is more than just new green livery Prime

Why Aston Martin’s arrival is more than just new green livery

In the most eagerly anticipated Formula 1 team launch of the season, the rebranded Aston Martin squad’s changes go much further than the striking paint job. But rather than a restart, the team hopes to build on top of solid foundations.

Formula 1
Mar 3, 2021
The car Aston Martin begins its new F1 journey with Prime

The car Aston Martin begins its new F1 journey with

The team formerly known as Racing Point gambled successfully on a Mercedes look-alike in 2020 as it mounted a strong challenge for third in the constructors' race and won the Sakhir GP. Now clothed in British racing green, Aston Martin's first Formula 1 challenger since 1960 provides the clearest indicator yet of what to expect from the new-for-2021 regulations

Formula 1
Mar 3, 2021
The tricky driver conundrums facing Mercedes in F1 2021 Prime

The tricky driver conundrums facing Mercedes in F1 2021

Ahead of the new Formula 1 season, reigning world champions Mercedes will take on challenges both old and new. This also can be said for its driver conundrum which could become key to sustaining its ongoing success...

Formula 1
Mar 2, 2021
How Alpine's cure to 2021 F1 rules starts at the front Prime

How Alpine's cure to 2021 F1 rules starts at the front

A new name, new faces and new colours pulls the rebranded Alpine Formula 1 team into a new era while carrying over core elements of its 2020 car. But under the surface there's more than meets the eye with the A521 which hints at how the team will tackle 2021...

Formula 1
Mar 2, 2021
Can Mercedes' W12 retain the team's crown? Prime

Can Mercedes' W12 retain the team's crown?

Replacing Formula 1's fastest car was never going to be an easy feat for Mercedes. Amid the technical rule tweaks to peg back the W12 and its 2021 rivals, the new Mercedes challenger will remain the target to beat

Formula 1
Mar 2, 2021