Mercedes Benz GP could be left with a $90M hole in its sponsorship roster after German consumer goods company Henkel denied it had a contract with the team.
It is understood that the then Brawn team believed it had a deal with the company earlier this year. However, Henkel now claims that the contract was put together by an ex-member of staff who was acting without the company’s authorisation.
It insists it no responsibility for the deal and informed the team back in September that the agreement was invalid. It added that Mercedes should have been more thorough in checking the validity of the deal.
Henkel filed a law suit over the dispute in November.
Henkel produces a range of products for both consumers and industry, ranging from cosmetics to electronics. It has big brand names such as Persil detergent and Loctite adhesives among its products.
I wonder where Mercedes GP are going to find the $90M out of this, particularly if they’re looking to secure the services of one Michael Schumacher!
Perhaps a donor can be sought…