Brawn GP will be in Formula 1 at least until 2012

The Brawn GP team announced via press release that its financial situation has now been stabilized and should allow it to remain in Formula 1 for at least three years, until 2012. The team thus confirms having signed the new Concorde agreements.

This is good news for F1 and for the fans; Brawn GP will be in Formula 1 for at least three more seasons. The team has confirmed that its financial situation has greatly improved since Ross Brawn took over the Honda team. Nevertheless, the team will have to announce new sponsors, as Virgin does not want to renew its contract with the English team for the 2010 season.

Nick Fry, the CEO of Brawn GP, confirmed that his team could continue to compete in the Formula 1 World Championship until at least the 2012 season. The Briton also confirmed that new sponsorship contracts – to replace Virgin – have been signed but will only be unveiled next January.

« We have no financial worries for the current year, the next year, the one after that, and the year following. I smile when people talk to us about money because we have always known that the team would be here until at least the end of 2009, while many didn’t think so… » comments Fry to the BBC.

« We have signed some nice contracts but they will only be visible after the official launch of the 2010 single-seater. We will see what can happen in the meantime, but I am not worried at all on our end. »

Nick Fry also confirmed the withdrawal of Virgin from the black and fluorescent yellow single-seaters at the end of the season, as Richard Branson did not wish to renew his contract with Brawn GP for 2010: « We have had a superb relationship with Virgin, but their logos will not be present on the BGP002 in 2010. »

« You may have noticed different Virgin logos and brands on the cars depending on the races. Virgin asked us to vary them, and this allowed us to increase our sponsorship income. They made a very strong entry into F1, and we will try to help them with Manor wherever we can. Virgin is a successful company, and it’s important to have them in F1. »

For a few weeks now, the new Manor team has announced its exclusive partnership with the Virgin company. See this article for more details.

Currently, three main sponsors are mentioned as potential partners: Bwin, Fly Emirates, and Monster Energy, already present on the helmets of Button or Barrichello depending on the Grand Prix.