Categories: F1McLarenNews

McLaren F1 Set to Lose Money as Major Sponsor Backs Out

The McLaren Formula One team could be in big trouble soon, especially in the financial department. As it turns out, the British outfit will likely be parting ways with one of their biggest sponsors, Petrobras.

The Brazilian oil company had expressed their desire to leave their five-year contract for a while. Now, it seems like they have finally reached an understanding with the Woking outfit and will split.

The oil company is partially owned by the Brazilian government and were McLaren’s sponsors for some time. In fact, president Jair Bolsonaro took to social media to announce the termination of the relationship.

“In 2018 Petrobras signed an advertising contract of R$782m with McLaren, valid for five years,” Bolsonaro tweeted. “At the moment, the company, by decision of my government, seeks a way to terminate the contract.”


Now, it has transpired that discussions about the future of the McLaren-Petrobras relationship have been going on for some time. Zak Brown hopes that they can have a positive response from the Brazilian oil giants.

“As far as fuel and lubricant, we have a partnership with Petrobras, and provisions in our agreement to be able to continue down that path,” he told

However, Brazilian media has published that the contract has been terminated and an official government document stated: “An unjustifiable Petrobras sponsorship agreement for the McLaren Formula 1 team – worth £ 163 million – has been terminated.”

McLaren have responded saying: “Such matters are commercially confidential and therefore we are not able to comment further at this time.”

The McLaren team have been on a great run this season, with their drivers, Carlos Sainz and Lando Norris. In fact, they have established themselves as the 4th best team on the grid, behind Mercedes, Ferrari and Red Bull. They had some competition from the factory Renault team, but McLaren emerged as the more well-developed car.

Dhruv George

Recent Posts

Sebastian Vettel Denies Similarities Between Ferrari Team Orders and Multi-21

Multi 21 will forever remain one of the blackest marks in the record of Sebastian Vettel. Now, in 2019, Scuderia…

2 mins ago

Top Five Matches of Tomas Berdych

Former world No.4 Tomas Berdych is all set to hang up his racquet as he will officially announce his retirement…

10 mins ago

India vs Bangladesh 2019: Time Announced of the First-ever Day-night Test in Kolkata

The first-ever Day-night Test of India vs Bangladesh are all set to be hosted at the Eden Gardens in Kolkata.…

1 hour ago

Real Madrid Gunning for PSG Star Kylian Mbappe with a Record Bid

La Liga giants, Real Madrid are reportedly considering a world record move to bring PSG superstar Kylian Mbappe to the Santiago Bernabeu.…

1 hour ago

Gymnast Melanie Coleman Succumbs to Injuries After Horrific Fall

Tragedy struck a Southern Connecticut State University as a gymnast, Melanie Coleman died after a fall during practice. Coleman fell…

2 hours ago

Roger Federer Does Not Want Nastiness From Fans on Social Media

Whenever, the Swiss maestro, Roger Federer plays a tennis match more than 80 percent of the crowd is rooting for…

2 hours ago