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McLaren set to lose Petrobras backing
May 20 McLaren looks set to lose a major sponsor. The Brazilian state run oil company Petrobras signed a five-year, $200 million deal with the Woking based team last year. But a new Brazilian president, Jair Bolsonaro, was sworn in this year, and he has announced that the McLaren-Petrobras collaboration will end. "At the moment, by decision of my government, Petrobras seeks a way to terminate the contract," Bolsonaro said. Globo reports that a government envoy was at McLaren's UK headquarters last week to negotiate the termination. It is bad news all round for McLaren, with Fernando Alonso failing to qualify for the Indianapolis 500 over the weekend in the new McLaren entry....
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4y ago from OneStopStrategy.com
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