Formula One news

Foster's to pull out of Formula 1

Australian beer producer Foster's will not extend its contracts in Formula One when they run out at the end of this season. The beer producer holds the naming rights to the British, Australian and San Marino Grand Prix currently.

"While Foster's Group will continue to co-ordinate global marketing initiatives, decisions about sponsorship will rightly rest with our co-brand owners and regional partners," said FGL MD Richard Scully.

A statement confirming Foster's withdrawal read: "As part of a program to significantly reduce overheads within the Foster's Brewing International business, Foster's Group will not be renewing its sponsorship of Formula One at the end of the current season."

The Foster's girls will be missed...

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