Aramco To Replace Petronas As Mercedes-AMG F1 Title Sponsor?
After backing out of MotoGP, Petronas looks set to conclude its long-term partnership with Mercedes-AMG F1
Petronas has been the title sponsor for the Mercedes-AMG F1 team since 2010 and together, they have won seven World Constructors and Drivers’ Championship. However, Decalspotters reports that the fruitful partnership will come to come to an end at the end of this season, with Saudi oil giant Aramco set to take over.
“The team’s partnership with Aramco is set to kickstart in 2022, with the company’s green-blue colour palette replacing Petronas’ turquoise accents on Mercedes-AMG’s branding,” the website says.
The site goes on to suggest that the move is largely due to the financial constraints faced by the Malaysian petroleum company, adding that it recorded multi-million losses since 2020 due to the pandemic and lower fuel prices.
“It comes as no surprise Petronas would reassess its marketing efforts in F1 and implement cost-cutting measures after a huge economic hit,” it says. This comes hot on the heels of the company’s announcement in August that it will withdraw its title backing of the Sepang Racing Team (SRT) in MotoGP from 2022.
However, GPFans claims that Mercedes-AMG F1 will not replace Petronas with Aramco at the end of this F1 season. Although sources failed to rule out a deal could be done with Aramco, the site confirms that “the Mercedes-Petronas relationship still has multiple years to run stretching well beyond 2022.”
The website says that reports have emerged that Mercedes-AMG F1 is set to part company with Petronas and join forces with Aramco because of the Saudi oil company’s close connection with INEOS, which became a one third equal shareholder in the team alongside Daimler AG and team principal Toto Wolff in December last year.
“Petronas and Mercedes have been partners since 2010 in a collaborative long-term relationship that is mutually beneficial to both parties. Last year, we extended our partnership for another multi-year cycle and we are proud to continue to be working together to deliver cutting-edge performance,” a Mercedes spokesperson told GPFans.
Related Posts
Saudi Aramco Posts Impressive 2023 Profit Of USD121.3 Billion, Will It Go Up This Year? →
INEOS Automotive Introduces the INEOS Fusilier. One vehicle, two powertrains. →
Gentari Go Is Yet Another App EV Users Can Download →
