McLaren's Petrobras sponsorship terminated
Honda F1 website
Honda website

OCTOBER 21, 2019

McLaren's Petrobras sponsorship terminated

Carlos Sainz, Japanese GP 2019
© The Cahier Archive

A major Formula 1 sponsor has announced it is leaving McLaren.

In May, we reported that Brazilian state-run oil company Petrobras was looking to exit the five-year, $200 million deal it signed just last year.

"At the moment, by decision of my government, Petrobras seeks a way to terminate the contract," controversial new Brazilian president Jair Bolsonaro had said.

Now, the Brazilian financial magazine Exame says the government's economy department has confirmed the cancellation.

A document prepared by economics minister Adolfo Sachsida declared that the "unjustifiable" McLaren contract was "terminated".

Petrobras told Brazilian media that it would not comment further, while McLaren said contracts are "commercially confidential".

"We cannot make comment at this time," a spokesperson added.

(GMM)

Other stories for OCTOBER 21, 2019

FERRARI TO KEEP VETO POWER AFTER 2020

VERSTAPPEN SUPPORTS END OF F1 SPRINT RACE IDEA

VERSTAPPEN WANTS RED BULL-HONDA TO RISK MORE

RICCIARDO RESPONDS TO WEBBER CRITICISM

MCLAREN'S PETROBRAS SPONSORSHIP TERMINATED

TEAMS ASK FIA TO CHECK FERRARI ENGINE LEGALITY

F1 RETURN GETTING HARDER SAYA ALONSO

MAGNUSSEN HELPING FATHER KEEP RACING

GPDA PRESIDENT NO FAN OF 18-INCH WHEELS

VERSTAPPEN MET TO LEARN HONDA FUTURE