Yamaha have suffered a costly blow to their MotoGP program. Today, the factory Yamaha team announced that the three-year deal with Malaysian oil giant Petronas to sponsor Yamaha's MotoGP team will not be extended, and will terminate at the end of 2011. In a joint press release issued with Petronas, Yamaha stated that after three successful years, the agreement had "reached its natural conclusion."
The announcement is very bad news indeed for Yamaha. The deal was reportedly worth $8 million a year for the Japanese factory, and coming on top of the loss of Fiat as a title sponsor at the end of 2010, Yamaha is currently being forced to fund a much greater part of its MotoGP budget - thought to be between 50 and 70 million euros a year - out of its own pocket, a situation that is not sustainable in the current economic climate. The factory seized the opportunity offered by its 50th anniversary in racing to run in factory colors for 2011, which was very well received, especially when the team ran the red-and-white livery that was such a massive hit with the fans. No such anniversary looms for 2012, and with motorcycle sales still in a downward spiral, and no sign of recovery in the global economy, the cost of racing in MotoGP could be too much to sustain for Yamaha.
Out! Pet Care Toyota Jason Leffler David Carl Allison Gregory Jack Biffle
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