Last week we got news that Yamaha Racing and Petronas were concluding their three-year collaboration in MotoGP, as the Malaysian oil company’s contract with Yamaha came to an end, and was not to be renewed. Following Yamaha’s abysmal ability to keep or gain sponsorships for its racing efforts lately, the initial reaction to the news of Petronas’ departure was very grave in the MotoGP paddock. However, our friends at MotoMatters have confirmed that Yamaha will be replacing Petronas (not the Harry Potter spell, thanks irks) with Nippon Oil subsidiary brand ENEOS.
Unable to announce the signing of ENEOS to the team because of the direct competition between the two oil companies (Business Etiquette 101), it is expected that Yamaha will make a formal announcement in the build-up to the 2012 season, likely around the team’s official 2012 unveiling. New to motorcycle racing sponsorship, the signing of ENEOS to Yamaha Racing’s MotoGP team is a bit of a coup, though it is not clear how big of a sponsorship the Japanese company is signed-on for from a money position. The Petronas deal was reportedly worth $8 million a year.