Brazil pulls the plug on McLaren/Petrobras partnership

The Brazilian government is reportedly set to terminate the sponsorship deal between the McLaren F1 team and multinational oil company Petrobras.

The Woking-based outfit welcomed Petrobras onboard as a technical and commercial sponsor at the start of the 2019 season.

But in May, the future of the five-year deal, rumored to be worth approximately £150 million, was already put in jeopardy when Brazil's new president, Jair Bolsonaro, orders its termination.

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What appeared back then as perhaps a case of political rhetoric has now apparently become an official decision enforced by Brazil's highest authority, according to a report from Motorsport.com.

Petrobras is majority owned by the Brazilian government whose president has been instigating major political and economic changes across the country since taking office at the start of 2019.

Motorsport.com's report states that McLaren Racing boss Zak Brown said recently in Russia that he was hopeful of retaining Petrobras as a sponsor in the near future.

"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," said Brown.

However, papers published this week by Brazil's Ministry of the Economy indicate that the deal has effectively been terminated.

A spokesman for McLaren declined to comment on the news: "Such matters are commercially confidential and therefore we are not able to comment further at this time."

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