The Japanese automaker Honda will become the new sponsor of the racing team. The auto giant will invest €100million into the Formula 1 McLaren team annually. This amount includes free engines, 50% of the drivers’ salaries and €50million of direct sponsorship cash. Honda engines will be used by McLaren starting from 2015. But the cash had already begun flowing in this season.
The team headed by Ron Dennis started experiencing problems after losing its title sponsor Vodafone — the British telecommunications giant. The company had been supporting the team for 7 years spending €60million on the racing team annually.
After breaking up with Vodafone, Sony was rumoured as the possible title sponsor for the team but there was no information on any agreements signed. Meanwhile, Lotus is trying to lure away the Japanese electronics manufacturer.
At the moment McLaren does not have a title sponsor. Right now the place on the race car, which was previously taken by the sponsor’s logo, shows the MP4–29 label. In 2014 the cars will be still fitted with Mercedes-Benz engines; however, McLaren will have to pay for them. The racing team used to have them free as a privileged partner.