Oil giant Shell has confirmed that it will no longer sponsor the Belgian Grand Prix and will also end its trackside sponsor deal with Formula One Management.
Shell has been title sponsor of the Belgian GP since 2011 after signing a five-year contract, but has chosen not to renew the deal, leaving the race without a title sponsor.
Shell has instead chosen to focus its sponsorship efforts on Ferrari, of which it is a fuel partner, which also means the company's branding will disappear from trackside hoardings.
"Shell has decided not to renew its trackside advertising agreement with Formula One Management or to continue its title sponsorship of the Belgian Grand Prix," confirmed Shell global sponsorships manager Kai-Uwe Witterstein.
"It has chosen instead to focus on and strengthen its newly-upgraded Innovation Partnership with Scuderia Ferrari. Running until 2020, this agreement with the most successful team in the sport, acts as proof of Shell’s continued commitment to Formula 1."
It's rumoured that beer-giant Heineken will take up Shell's trackside contract in a deal worth an estimated £105 million ($150m) over a five-year period, as well as linking up with a yet-to-be confirmed team.
