McLaren has announced that its Formula 1 sponsorship deal with Brazilian fuel and oil company Petrobras has been terminated with immediate effect.
As reported by Autosport last month, discussions about ending the partnership have been ongoing since the Brazilian president Jair Bolsonaro announced earlier this year he wanted the partnership to be concluded.
Now, just two weeks ahead of the Brazilian Grand Prix, both parties have agreed to end what was originally a five-year partnership. Petrobras’s logos will be removed from the car for the Interlagos race.
McLaren CEO Zak Brown said: “We would like to thank Petrobras for their partnership and support.
“We have great respect for their technical and scientific capabilities, and there is no doubt the company’s technicians have made substantial progress in the time we have been working together.
“We wish everyone at Petrobras every success and hope to see them back in the sport again in the future.”
Petrobras, which is 64% owned by the Brazilian government, stressed the decision to end the deal had nothing to do with on-track performance.
“We recognise the importance of McLaren in global motorsport and we are very satisfied with the results delivered during the two years of our partnership” said Petrobras CEO Roberto Castello Branco.
“The project allowed Petrobras to develop high-technology gasoline and lubricants through research with new raw materials and tests performed in extreme conditions.
“The technological development will be used in lubricant and fuel products. We see in McLaren a commitment to innovation and also the possibility of future partnerships.”
Brown said during the United States GP weekend that McLaren would be adding further sponsors for 2020.