Mercedes get Petronas booster for 2010 season

Malaysian state oil and gas company Petronas will be title sponsor of the Mercedes Formula One team next season, Mercedes announced.

Malaysian state oil and gas company Petronas will be title sponsor of the Mercedes Formula One team next season, Mercedes announced on Monday.

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The team, formerly champions Brawn GP, will become Mercedes GP Petronas with the oil company’s branding across the car and team liveries in what they said was a long-term agreement. “The new title partnership also paves the way for future collaborations between the two companies,” Mercedes added in a statement.

It said Petronas would be able to “generate sustainable business growth, particularly in their downstream lubricants market, through the strategic partnership and business alliance with Mercedes-Benz.”

Mercedes said their 2010 car would be presented in its new livery for the first test of the new season at the Valencia circuit in Spain on Feb. 1. Petronas, who previously sponsored the BMW-Sauber team, will continue to be the title backer of the Malaysian Grand Prix --- the third round of the season at Sepang on April 4.

“Petronas’s home base in Kuala Lumpur is located in the middle of a fast-growing region for the automotive industry which makes this new partnership even more valuable,” said Mercedes motorsport vice-president Norbert Haug.

The deal with Mercedes will be a blow to Swiss-based Sauber, which is in urgent need of sponsors.