After losing title sponsor Fiat last year, Yamaha Racing Team had relied on Yamaha Indonesian and Malaysian petroleum giant Petronas to partially fund their racing effort, now Yamaha and Petronas have jointly announced that this sponsorship will be ending this year, as the three-year agreement has reached its ‘natural conclusion.
’This is another big blow to the team, who in 2010 not only won the championship title with Jorge Lorenzo and the constructors title, but couldn’t find a replacement for Fiat in 2011 and now they’re losing Petronas.
The majority of the racing costs will now squarely on the shoulders of the Japanese manufacturer and with global economy expected to worsen in 2012 (especially in Europe), Yamaha may find itself in big trouble financing not only their MotoGP team, but also what they will be able to offer Jorge Lorenzo, Ben Spies or other top riders when contract renewals start next season.
Press release after the jump.
Yamaha and PETRONAS Conclude MotoGP Partnership30/12/2011The integrated Malaysian oil and gas corporation came onboard with Yamaha in 2009 and has enjoyed a hugely successful three year relationship.
Yamaha and PETRONAS have been privileged to share in two consecutive Triple Crown MotoGP victories, in 2009 and 2010.
Commenting on the conclusion of the three-year partnership, Lin Jarvis, Managing Director of Yamaha Motor Racing said “The relationship between Yamaha and PETRONAS has been a great success, we have enjoyed some major achievements together in the MotoGP class.
Now that the partnership has reached its natural conclusion I would like to thank our friends at PETRONAS for the support during their time with us and wish them well for the future”.
Mohammad Medan Abdullah, Senior General Manager of PETRONAS Group Corporate Affairs Division: “We are happy to have had this opportunity to work with the Yamaha Factory Racing team over the past three years.
In that time, we have enjoyed the benefits of strong brand exposure through the privilege of being associated with a team that shares our values and passion.
The team has achieved many successes through a high level of competitiveness and stretched performance standards and we wish the team continued success in the future”.
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