SportPesa cancelling sponsorships won't affect Racing Point deal
F1 News
- Nicolás Quarles van Ufford
After Racing Point title sponsor SportPesa announced it would be "cancelling sports sponsorships effective immediately" on Friday, it has now been made clear the betting company's partnership with Formula 1 team Racing Point will not be affected by it.
The Kenyan company came out with a statement on Friday, quoted by many local news sources, that it would be cancelling sponsorships in sports, saying the following:
"We regrettably wish to announce that due to the uncertainty of this situation SportPesa will be cancelling sports sponsorships effective immediately. All clubs and partners will have received notices as provided for in their contracts.
"We greatly value our partnerships and we will endeavour to resume support to the best of our ability when the business recovers."
With the company being Racing Point's title sponsor, many thought it could have a major impact on the team which faced massive financial difficulties around this time last year.
However, RaceFans.net now report this statement only regards companies in Kenya, meaning SportPesa will continue to partner with Racing Point as well as its many other international partners, like English Premier League football team Everton.
The title sponsoring deal will last until the end of next season, with an option for the 2021 season as well.