McLaren: Global financial ‘craziness’ makes F1 deals ‘hard as ever’

McLaren chief Zak Brown has soothed concerns over global financial “craziness” making deals “as hard as it’s ever been” by revealing two new partners ahead of the 2019 Formula 1 season.

The Woking-based squad has not raced with a title backer since Vodafone’s exit at the end of 2013 but still managed to attract a host of new sponsors last season. 

Brown said last month the team is holding talks with Coca-Cola over a potential future sponsorship partnership after striking a deal to run the carbonated soft drinks manufacturer’s branding on its cars at three races towards the end of 2018. 

Speaking at the Autosport International show, Brown admitted McLaren had felt the effects of current global financial uncertainties - including those surrounding the impact of Britain’s planned exit from the European Union - which he said had resulted in major companies becoming “nervous to invest long term”. 

Asked about the difficulties McLaren has faced in attracting new sponsors, Brown replied: “It’s as hard as it’s ever been. 

“Cooperations are a bit nervous to invest long term because they are not quite sure if something happens over here what does that mean. 

“It does put everything into a bit of a slowdown and holding pattern.” 

But Brown stressed the “craziness that’s going on around the world” has not put the brakes on McLaren securing fresh investment, revealing it will announce a minimum of two new sponsors later this month. 

“We were fortunate to bring on about five new partners last year, and we’ll announce another at least two this month that we’ve signed so we are making good progress,” he said. 

“It certainly hasn’t come to a stop but it’s slowed things down and some of the craziness that’s going on around the world doesn’t help.”

At last year’s season-ending Abu Dhabi Grand Prix, F1 teams voiced concerns over the possible negative impacts Brexit could have on the sport, including potential logistical and staffing challenges. 

Seven of F1’s 10 teams have UK bases including reigning world champions Mercedes, with boss Toto Wolff admitting his team was monitoring what he described as a “not very pleasant development” closely.