McLaren Chairman Ron Dennis has stated that he would prefer for his team to go without a title sponsor instead of underselling space on his cars just to have a title sponsor.
Dennis believes that big companies have been driven away from getting involved in Formula One with big sponsorship agreements due to the incredibly high cost of Formula One. Dennis believes that the best way to come up with a budget for a year of racing in Formula One is to cut the car up into pieces and have many companies with a similar philosophy to the team sponsoring them.
McLaren lost their title sponsor Vodafone at the end of the 2012 Formula One season and had been due to announce a replacement on December of that year however the announcement never came.
The Woking based outfit run without a title sponsor since then and over the winter they confirmed a new sponsorship agreement with CNN International. The last title sponsorship agreement to be announced came at the start of last season as Williams confirmed a long term partnership with Martini and was renamed Williams Martini Racing Team and featured a change in livery.
Prior to that a sponsorship deal was agreed with Spanish banking giant Santander and Scuderia Ferrari in 2010.
In 2012, Red Bull Racing announced that they had signed a title sponsorship deal with car marque Infiniti and in 2013 the team were renamed Infiniti Red Bull Racing.
© Ben Johnston 2015