Martini to end Williams F1 sponsorship after 2018

Williams has confirmed that Martini will end its title sponsorship agreement with the team at the end of the 2018 Formula 1 season.

An iconic brand in Formula 1 through the 1970s, Martini spent three years as a minor partner for Ferrari between 2006 and 2008 before returning to the sport with Williams in 2014, striking a title sponsorship agreement that saw the team race with a white livery complemented by the classic red and blue Martini stripes throughout the agreement.

Williams deputy team principal Claire Williams confirmed on Tuesday in Barcelona that the agreement would be ending following the 2018 season, with Martini exiting F1 altogether.

"Martini are leaving us at the end of this year. It is the end of their contract and we have been in discussion for many months now about an extension beyond 2018 as you’d expect," Williams told the media on Tuesday. "They’ve been a really important partner of ours for the past five years and we were incredibly lucky that they joined the team back in 2013 when we were ninth in the championship.

"To be able to attract a title sponsor like Martini in that position was pretty impressive and showed a lot of faith on their part. They’ve had a very successful time with us and they’ve achieved their objectives and I think every brand has tried to evolve their marketing objectives over time and that is what Martini are doing. They are withdrawing not only from Williams but the whole of Formula 1 and you won’t see them on another team."

The agreement was due to extend beyond the end of the year, only for Martini’s parent company, Barcardi, to opt to bring it to an early conclusion and end its investment in the sport.

Williams recently announced the arrival of technology company Acronis as a new sponsor, and has also been boosted by financial backing from race driver Sergey Sirotkin ahead of the 2018 season.

Williams has confirmed it won't be targeting outright a direct replacement for Martini as a title sponsor as long as it can secure the same amount of financial income from its pool of partners.

"I don’t want to say we’re looking for a title partner because it isn’t about looking for a title partner," she said. "It is about making sure we the budget we need to go racing whether it comes from a new title partner coming on board or a new group of partners we will have to wait and see on that situation over this year.

"Everyone can see our results being a listed company and we financially stable at the moment, but I can’t talk about it too much into it as we are in a close period, but we are not duly concerned about them leaving at the end of this year."