Tag Heuer to leave McLaren for Red Bull

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Swiss watch maker Tag Heuer will end its long-standing partnership with the McLaren Formula 1 team to move to rival Red Bull Racing, the company's CEO has said.

"Yes, we just signed with Red Bull Racing in F1 for next season," Tag Heuer CEO Jean-Claude Biver told Swiss magazine L'Hebdo when asked about reports that it would leave McLaren to join Red Bull.

"It's a young, dynamic and go-getter team, perfectly matching the strategy of TAG Heuer," he added.

Tag Heuer is McLaren's oldest partner, the two companies having celebrated their 30th anniversary earlier this year.

"McLaren's partnership with Tag Heuer has been one of the most successful and enduring sponsorships in sporting history," a McLaren spokesman said.

"It has lasted 30 years, during which time both parties have achieved enormous success together.

"It is therefore with gratitude that we announce the end of our 30-year partnership, satisfied as both parties are with a job well done."

Tag Heuer was previously owned by the TAG Group, which owns a 25 per cent stake of the McLaren Group.

The Woking-based team has endured a very difficult season in Honda's return to Formula 1.

It's currently in ninth place in the standings, just ahead of Manor.

 

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About this article
Series Formula 1
Teams McLaren , Red Bull Racing
Article type Breaking news
Tags tag heuer