The brand sponsors the British Grand Prix as well as the Australian and San Marino Grands Prix.
"As part of a programme to significantly reduce overheads within the Foster's Brewing International business, Foster's Group will not be renewing its sponsorship of Formula One at the end of the current season when its contractual obligations expire," confirmed FGL managing director, Richard Scully.
"While the Foster's Group will continue to co-ordinate global marketing initiatives, decisions about sponsorship will rightly rest with our co-brand owners and regional partners."
