British mobile phone operator Vodafone will end its seven-year title sponsorship of McLaren at the end of the 2013 season, the company and Formula One team said on Thursday.
Vodafone said the sponsorship, which started in 2007 and was worth up to $75 million a year, was being ended following a review of marketing strategy"We're immensely proud that, having been set a number of ambitious challenges by Vodafone back in 2007, together we've met or exceeded each and every one," McLaren team principal Martin Whitmarsh said in a statement released at the season-opening Australian Grand Prix.
"Our focus is on continuing to drive results for all our partners throughout the 2013 season and we look forward to making a major title partnership announcement towards the end of the year."British-based McLaren are one of Formula One's most successful teams, winning 182 grands prix, 12 drivers' championships and eight constructors' championships in the 50 years since they were founded by New Zealander Bruce McLaren.
McLaren Group are 50 percent owned by Bahrain's sovereign wealth fund Mumtalakat.The team won the world title through Lewis Hamilton in 2008, the second year of the Vodafone deal, and have had another British world champion, Jenson Button, driving for them since 2010.