Just days after announcing it would not be continuing as a team sponsor, Petronas has confirmed it has signed a long-term title sponsorship deal with Mercedes GP.
Having been associated with the Sauber (later BMW) outfit since 1995, Petronas’ withdrawal earlier announcement was a huge blow for the returning Swiss team, who – along with the Malaysian-owned Lotus team – had pinned their hopes on securing sponsorship with the oil and gas company.
"Everyone at Mercedes GP is delighted to confirm our long-term agreement with Petronas and we look forward to working closely with our new partner in the future," commented Mercedes Team Principal Ross Brawn. "The collaboration of the premium automotive brand Mercedes-Benz and a company as prestigious as Petronas gives our team a fantastic base from which to achieve our ambitions of competing at the top level of Formula 1 and building on the success of 2009, which saw the team achieve the Constructors’ and Drivers’ Championships.
"Our plans for the new season are progressing well, as is the development of our 2010 challenger, and we look forward to seeing the car run in the new silver arrows and Petronas livery at the Valencia test in February."
Today’s news marks the first large-scale funding for the Mercedes team, which has released a concept livery (below) showing Petronas branding on the sidepods, front and rear wings.
I wonder how much $$$ Petronas are coughing up for the privilege of sponsoring the reigning Champions in 2010 and beyond?
[Image from GP Update]
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