Foster's to end global sponsorship in F1

The company's brand name in Europe has just been sold to British brewing and distribution partner Scottish and Newcastle for 315 million pounds, meaning the company can no longer make worldwide sponsorship decisions.

Foster's currently has title sponsorship of the Australian, San Marino and British Grands Prix, as well as signage exposure at 10 races. It also has a deal that makes it F1's official beer partner.

A spokesman for Foster's told the Australian Associated Press that all their current deals, including title sponsorship of the Melbourne race, were likely to be dropped because they were agreed on a global basis.

However, he did not rule out an involvement in the future if individual brand owners felt it was in their best interests.

"Our agreements have been with the global grand prix and not the Melbourne grand prix body," the spokesman said.

"By pulling out of the deal it doesn't mean Foster's will never be associated with grands prix again - it just means that global sponsorship will cease but regions will make their own decisions."

Although S&N are being left to make a final decision on whether it will continue with F1 sponsorship in Europe, the company's chairman and managing director John Dunsmore said earlier this year that the sport no longer fitted with the lager brand's core strategy.