Grapevine: Renault Set for Telefonica Boost

Spanish telecommunications giant Telefonica could become Renault's title sponsor next year, according to reports in the Spanish press

Grapevine: Renault Set for Telefonica Boost

The reports claim that Telefonica, through its Movistar mobile arm, has decided to pull out of MotoGP after nearly a decade involved in the sport following 250 World Champion Dani Pedrosa's decision to move to the MotoGP category with the HRC team.

HRC have Repsol as their main sponsor and the Spanish oil company and Telefonica failed to reach an agreement to share the sponsorship when Pedrosa, one of Honda's big hopes to take the fight to Valentino Rossi, moves to MotoGP next season.

That is why Telefonica, who reportedly invested over 10 million euro a year in sponsoring MotoGP, has decided to pull the plug.

Instead, the Spanish company is said to be considering increasing their financial support in the Renault team and their star driver Fernando Alonso, who is on his way to becoming the youngest Formula One World Champion and the first Spanish champion.

Telefonica is already in a partnership with Renault, whose main sponsor is tobacco company Mild Seven. Since the end of July, a European law banned tobacco ads.

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