JOIN US British mobile operator Vodafone will end its seven-year title sponsorship of Formula One team McLaren at the end of the 2013 season, the team confirmed 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.
"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 is one of Formula One's most successful teams, winning 182 grands prix, 12 drivers' championships and eight constructors' championships in the 50 years since it was founded by New Zealander Bruce McLaren.
Vodafone said it had decided to end the deal because it believed its brand no longer needed the reach and level of exposure that it gained through sponsoring McLaren.