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Manor F1 Team Sponsor Pertamina Pulls Out Following Demotion Of Rio Haryanto

The Manor Racing Formula 1 cars were not "exactly awash in sponsorship this year anyway" and with the demotion of Rio Haryanto, F1’s first Indonesian race driver, to reserve driver for the remainder of the season, his sponsor has "gone with him," according to Tony DiZinno of NBC. Indonesian state-owned oil company Pertamina "announced over the weekend it has withdrawn its support of the Manor cars" for the rest of '16. Pertamina spokesperson Wianda Pusponegoro said, "The Manor Racing team has offered to let us continue advertising on its cars. However, we have decided to discontinue the advertising" (NBC, 8/15). The JAKARTA GLOBE reported although Haryanto has been eliminated for the rest of the year, Pertamina "urged his management team to plan a funding strategy earlier before the start of the next season." Pusponegoro: "We see there is enough time to prepare for everything, so we asked Kiky Sport, as Rio's management company, to finalize a funding plan for the next season." The plan "should include information regarding the target market, timelines and team mapping" as Haryanto might join another racing team next year. Pusponegoro said, "Next season, there's a possibility for Rio to join a new Formula 1 team, which also needs funding [like Manor this season], so the funding strategy must be well prepared, because every business organization needs certainty about the exact work plan" (JAKARTA GLOBE, 8/15).

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