Martini will be leaving Formula 1 at the end of this season as its five-year contract ends with Williams.
It was reported that former is to withdraw its title sponsorship for the Williams Formula 1 team.
Martini has been in the business since 1972 when it became a partner to an Italian team Tecno, later it sponsored Brabham -Motor Racing Developments Ltd. – in 1975 and then it sponsored Lotus in 1979 with its beautiful color scheme.
The brand returned with its one of biggest programme to F1 with its color scheme of white, blue and red in 2014 when it signed the deal with Williams Grand Prix Engineering Limited making it Williams Martini Racing.
It was reported that Martini tried to explore its options, to remain in F1, with not only Williams but different teams for alternative arrangements. But the decision was averted by the board of Bacardi Group – the martini parent board. It weighed in not to divert their resources anymore for F1 as it does not align with the strategic objectives of their business.
Claire Williams, deputy team principal, commented while responding to a media, said “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.
“They’ve been a really important partner of ours for the past five years and we were incredibly lucky that they ed 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.”
With the departure of Martini, Williams has announced financial backing by a technological group Acronis and SMP Racing. Williams has understanding with SMP Racing to launch Sergey Sirotkin after this season.
Williams will also be backed by a billionaire Lawrence for running Lance Stroll, which has added to “financial stability” of the firm.
Though they are departing ways but both firms will celebrate 50th celebration of Martini Racing together.
