McLaren could lose petrol supplier and sponsor Petrobas
McLaren could be set to lose petrol supplier and major sponsor Petrobas, with the Brazilian organisation looking to “terminate” their contract with the Formula 1 team at the behest of their government who own the majority share of the company.
Just last year, Petrobas signed a deal with McLaren worth £150 million over five years, but it is understood some of the funds went on research and development for the oil company.
The intention was announced on Twitter via the country’s president Jair Bolsonaro.
"In 2018, Petrobras signed an advertising contract of R$782 million with McLaren, valid for 5 years. At the moment, the company, by decision of my government, seeks a way to terminate the contract," he wrote.
Em 2018 a Petrobrás assinou contrato de publicidade de R$ 782 milhões com a McLaren, válido por 5 anos. No momento, a empresa, por decisão do meu Governo, busca uma maneira de rescindir o contrato. Boa noite a todos!
Another Brazilian elected official, Osmar Terra, believes that the deal is just not worth the money for Petrobas.
"It does not make the slightest sense, it's an absurdity, it's not worth it having the little name on the helmet," Brazil’s minister of citizenship told Radar.
Should Petrobas try and terminate the contract, it is likely they would be heavily fined.
This is not the first time Bolsonaro has became involved in Formula 1 affairs, as he recently stated that the Brazilian Grand Prix would be moved from Sao Paulo to Rio de Janeiro for 2020, but organisers at Interlagos have disputed the claim.
GPFans is a multi-platform, multi-language brand dedicated to Formula One coverage. We bring you all the ins and outs of the sport, 24/7, everything from up-to-the-minute news and features to the latest viral stories and clips.
We believe that a new generation of exciting, outspoken drivers will make F1 more popular than ever before, and we want to give our users access to as much of their heroes as possible, on and off the track. From Lewis Hamilton to Max Verstappen, Daniel Ricciardo to Sebastian Vettel, we provide in-depth analysis of every every Grand Prix in the season, from Australia to Abu Dhabi.
With Formula One under the new ownership of Liberty Media, how the sport is being covered is evolving, and GPFans will look to be at the heart of this progression into new media, as one of the fastest-growing sites covering the king of motorsports.