McLaren could lose petrol supplier and sponsor Petrobras (Update)

Zak Brown's (left) job has to be on the line. The F1 team is a disaster, and they can't even qualify for the Indy 500, beaten by some minnow teams. Now Petrobras wants out.

UPDATE McLaren looks set to lose a major sponsor.

The Brazilian state run oil company Petrobras signed a five-year, $200 million deal with the Woking based team last year.

But a new Brazilian president, Jair Bolsonaro, was sworn in this year, and he has announced that the McLaren-Petrobras collaboration will end.

"At the moment, by decision of my government, Petrobras seeks a way to terminate the contract," Bolsonaro said.

Globo reports that a government envoy was at McLaren's UK headquarters last week to negotiate the termination.

It is bad news all round for McLaren, with Fernando Alonso failing to qualify for the Indianapolis 500 over the weekend in the new McLaren entry.

McLaren boss Zak Brown said: "Our contract with Fernando goes beyond the Indianapolis 500."

Brown said he is confident the famous F1 team will eventually return to the top step of the podium.

"As a team we are doing much better than before. I think we will win again in a window of two to ten years," he said.

But at approaching the age of 38, Alonso is unlikely to be at the wheel for that.

Sky Italia quoted an unnamed insider who said the Spaniard wanted to switch to a faster team rather than quit F1 at the end of last year.

"He offered himself for free," the insider is quoted as saying.

McLaren may fail to qualify for the Indy 500, then comes this news

05/19/19 McLaren could be set to lose petrol supplier and major sponsor Petrobras, with the Brazilian organisation looking to “terminate" their contract with the Formula 1 team at the behest of their government who own the majority share of the company.

Just last year, Petrobras signed a deal with McLaren worth £150 million over five years, but it is understood some of the funds went on research and development for the oil company.

The intention was announced on Twitter via the country’s president Jair Bolsonaro.

"In 2018, Petrobras signed an advertising contract of R$782 million with McLaren, valid for 5 years. At the moment, the company, by decision of my government, seeks a way to terminate the contract," he wrote.