A Spanish sponsor will depart Renault and follow Fernando Alonso to his new team – McLaren – in 2007.
Ron Dennis’ Mercedes-powered team on Wednesday confirmed that insurance company Mutua Madrilena had signed a ‘long term’ contract, which is estimated to be worth about $5 million per year.
“Mutua Madrilena will be the first Spanish based company to join our partner group,” said team principal Dennis.
The deal includes branding on the MP4-22 car’s front wing endplates, drivers’ sleeves as well as helmets.
Silverstone based Spyker also revealed a two year sponsorship deal, with Dutch power tool maker RotoZip, which began with cockpit-edge and driver overalls branding at the Brazilian grand prix.
RotoZip is owned by Dremel, a sponsor of the Spyker-MF1 team in 2006 through its links with driver Christijan Albers.