McLaren and Honda have signed a new deal which sees them teaming up for the next four years, with the latter set to step up in the F1 title fight.
The agreement between the two Japanese marques, which is understood to have been signed in the coming days, comes on the heels of a new sponsorship deal signed with Renault-Nissan in the wake of the Malaysian Grand Prix.
Under the terms of the agreement, Honda will pay the team €100m a season for the first four years of the deal, while McLaren will pay around €50m per season thereafter.
Honda’s sponsorship deal with Renault will continue into the 2018 season and the team will have the option to extend it.
Renault’s sponsorship deals with Ferrari, Mercedes and Red Bull are set to expire at the end of the 2019 season, with Renault signing a new two-year deal with the Brazilian team at the start of 2020.
McLaren and Honda are expected to be joined by McLaren F1 boss Zak Brown next year, who is set to leave the sport to return to private sector management.
Meanwhile, a number of drivers have been linked with moves to Mercedes-Benz, with Max Verstappen reportedly set to move to the German manufacturer next season.
However, Mercedes-AMG’s new CEO, Dieter Zetsche, told German newspaper Bild am Sonntag this week that the team is not looking to sell.
“It’s not going to happen,” he said.
“It’s going to be something we are doing for the future.”
Meanwhile the latest news from F1 this week included news that the FIA has launched a review into the reliability of Formula One machinery.
Following a two-week period of public hearings, the body has now confirmed that it is looking at the potential impact of reliability on Formula One’s future and will make recommendations on how to improve it in the future.
For more F1 news follow us on F1 Hub.