Formula 1

Brawn GP Secures Funding For 2010

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Brawn GP Garage (Photo Brawn GP)Brawn GP says it has secured the backing it needs to compete in the next three seasons of Formula 1, and also confirmed its deal with Virgin will not be renewed for next year.

A number of un-named backers have come to an agreement with Brawn about sponsorship for next year, one of which is rumored to be Emirates Airlines. However the identites of the new sponsors will remain a secret until the unveiling of Brawn’s 2010 car.

“We have zero worries on funding for this year, next year, the year after, and the year after that,” said Nick Fry, Brawn GP CEO. “I smile when people talk about money, because we’ve always had the finances for this year, and neither Ross nor I would not have taken on the team if we did not have the money for this year” he added.

Talks were halted after the controversy of a possible split between the FIA and FOTA, but the signing of the latest Concorde Agreement has meant securing deals became much easier.

Team Principal Ross Brawn said: “That was a log jam because sponsors wanted to know what the situation was, and things are freeing up. Everyone up the pit lane will find that things are now much better because we know what the commercial basis is for the future.
“We know we are going to be racing for the next three years at least in this championship – and I hope beyond, I hope we don’t get into discussions about alternative championships again.”

Nick Fry also confirmed the departure of Virgin, as when asked about whether they would be retained as a sponsor, he replied “No. We’ve had a great relationship with Virgin. You have noticed different stickers from Virgin on the car over the year, and that is the result of additional requests from their side, which has increased our income as well, which is nice.”

“I really do hope they are successful not only next year but beyond, because they are a good company and it is a good company for F1 to have.”

Virgin will switch to the brand new Manor team for the 2010 season.

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