Formula One team McLaren has agreed by mutual consent to terminate its technical and sponsorship deal with Brazilian Oil company Petrobras.
The news was imminent after Brazil’s president, Jair Bolsonaro, tweeted on October 20 his intention to end the deal as he called it "an absurdity committed on the taxpayer by the previous government". The company is 64-per-cent government owned.
21- Determinação do Presidente Bolsonaro, a Petrobras cancelou o contrato de patrocínio de R$ 872 milhões com a equipe de Fórmula 1 - McLaren. Um absurdo cometido com o contribuinte por governo anterior. Dinheiro do pagador de impostos sendo aplicado onde necessário.— Jair M. Bolsonaro (@jairbolsonaro) October 20, 2019
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