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Adapted from GMM
McLaren on Thursday swiftly confirmed reports that Vodafone will definitely end its seven-year title sponsorship at the end of 2013.
It emerged mid last year that the lucrative deal could be in doubt beyond 2013, with the Financial Times reporting that the British telecommunications giant was "reviewing" its major sponsorships. Citing a company spokesman, the newspaper said Vodafone has indeed decided to end the estimated $75 million per year McLaren deal.
"Having met and exceeded all the highly ambitious targets that Vodafone had set for its title partnership with McLaren, the company has now decided to focus on business priorities away from formula one sponsorship," the British team announced in a press release.
Amid speculation it will team up with the Sergio Perez-linked Mexican giant Telmex, McLaren announced that its next title sponsor will be announced in December.
"While the current title partnership is in place... McLaren will not disclose its new title partnership, but (the team) will make an exciting announcement on 2nd December 2013, following the last grand prix of the season," said the Woking based team.
As it has since Perez entered F1 in 2010, Telmex currently sponsors Sauber. Rumours will surely now intensify about a switch to McLaren to replace Vodafone.
McLaren boss Martin Whitmarsh said last September: "I did have a conversation with Carlos Slim ... but we have made an offer to Sergio, we are paying him well and there are no side deals. I'm not saying that ultimately there won't be other fresh partners coming forward because of it (Perez's signing) but that wasn't the motivating force."
McLaren on Thursday swiftly confirmed reports that Vodafone will definitely end its seven-year title sponsorship at the end of 2013.
It emerged mid last year that the lucrative deal could be in doubt beyond 2013, with the Financial Times reporting that the British telecommunications giant was "reviewing" its major sponsorships. Citing a company spokesman, the newspaper said Vodafone has indeed decided to end the estimated $75 million per year McLaren deal.
"Having met and exceeded all the highly ambitious targets that Vodafone had set for its title partnership with McLaren, the company has now decided to focus on business priorities away from formula one sponsorship," the British team announced in a press release.
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| Launch of the McLaren MP4-28 at Woking. (Photo: WRi2) |
Amid speculation it will team up with the Sergio Perez-linked Mexican giant Telmex, McLaren announced that its next title sponsor will be announced in December.
"While the current title partnership is in place... McLaren will not disclose its new title partnership, but (the team) will make an exciting announcement on 2nd December 2013, following the last grand prix of the season," said the Woking based team.
As it has since Perez entered F1 in 2010, Telmex currently sponsors Sauber. Rumours will surely now intensify about a switch to McLaren to replace Vodafone.
McLaren boss Martin Whitmarsh said last September: "I did have a conversation with Carlos Slim ... but we have made an offer to Sergio, we are paying him well and there are no side deals. I'm not saying that ultimately there won't be other fresh partners coming forward because of it (Perez's signing) but that wasn't the motivating force."