Petronas will pay Mercedes GP F1 team about €30 million ($43 million) per season for its position as main sponsor, according to some unofficial informations in the international press.
Mercedes GP announced Monday the signing of a publicity contract with Petronas oil group, a contract that stipulates that the Malaysian company will become the main sponsor of the Formula 1 team.
The two sides kept secret the value and the length of the contract, but the international press speculates that Petronas will pay Mercedes GP about $43 million every season. The amount of money is almost similar with the one that Henkel would have payed Mercedes if the contract with the German would be juridical legal.
At this amount will be added the TV rights of the 2009 season, currently estimated at approximately €50 million (about $72 million). Practically, Mercedes GP now has a €80 million ($114 million) budget for the 2010 season without including the direct investments made by German automaker.
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