Bolsonaro Tweet Ends McLaren And Petrobas Deal
By Community | November 4, 2019
McLaren have agreed to terminate their current sponsorship deal with Petrobas by mutual consent.
The deal had been under threat for past fortnight ever since the Brazilian President, Jair Bolsonaro, tweeted that the deal should be discontinued, after he described it as an “absurdity committed on the taxpayer by the previous government”.
Petrobas’ contract with the Formula One team had been due to last until 2023, however 64% of the company is government-owned, so as soon as Bolsonaro inserted his opinion it appeared only a matter of time until the deal was ceased.
“We see in McLaren a commitment to innovation and also the possibility of future partnerships,” said Roberto Castello Branco, Chief Executive of Petrobas, not entirely dismissing a potential deal again in the future.