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McLaren will no longer be a title sponsor of the Bahrain-McLaren team next year.
Confirming rumors that have swirled for weeks, Bahrain-McLaren released a brief statement announcing the news on Wednesday, saying that the automotive company will cease its title sponsorship of the team at the end of this season.
McLaren, which is majority-owned by Bahrain’s sovereign wealth fund, came aboard as a sponsor at the start of this year as the team made multiple moves in the offseason to change up its management structure and roster. Rod Ellingworth took over as team principal late last year and the squad added Mikel Landa, Wout Poels, and Mark Cavendish to the team for 2020.
McLaren has faced financial issues amid the coronavirus pandemic, however, and team riders and staff had their salaries deferred earlier this year and took a pay cut for the season. Now, it will be pulling out of its role as co-sponsor of the team, leaving the squad looking for a new sponsor.
According to Cyclingnews, the team’s future is at least secure for next year, with owner Sheikh Nasser bin Hamad Al Khalifa committing to keep the squad afloat through 2021.