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McLaren's Petrobras sponsorship 'terminated'

Oct.21 A major Formula 1 sponsor has announced it is leaving McLaren. In May, we reported that Brazilian state-run oil company Petrobras was looking to exit the five-year, $200 million deal it signed just last year. "At the moment, by decision of my government, Petrobras seeks a way to terminate the contract," controversial new Brazilian president Jair Bolsonaro had said. Now, the Brazilian financial magazine Exame says the government's economy department has confirmed the cancellation. A document prepared by economics minister Adolfo Sachsida declared that the "unjustifiable" McLaren contract was "terminated". Petrobras told Brazilian media that it would not...
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