Spanish sponsor leaves McLaren

(GMM) A Spanish sponsor has followed the example of countryman Fernando Alonso by leaving the formula one team McLaren after the first of a multi-year contract.

Mutua Madrilena, an insurance company, has broken its two-season deal and is now tipped to re-join Alonso in 2008, Spanish media reports on Thursday said.

We reported that officials for the Spanish sponsor travelled to the British team's Woking base in late November to negotiate the contract split.

Mutua Madrilena, whose sponsorship value is estimated at $5m per season, followed Alonso, 26, from Renault to McLaren at the end of 2006.

The deal included branding on the 2007 McLaren car's front wing endplates, drivers' sleeves as well as helmets.

Mutua Madrilena was the first Spanish company to sponsor formula one, entering the sport with Renault in 2005.