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Yamaha Racing has just announced that it will debut its 2011 MotoGP team livery at the Sepang test on February 21st. Yamaha has been without a title sponsor since the departure of Valentino Rossi, as Italian car manufacturer Fiat dropped its support of the Japanese team when Rossi went to Ducati Corse for this upcoming season.

Despite having the reigning MotoGP World Champion Jorge Lorenzo, the 2010 MotoGP Rookie of the Year Ben Spies, and being the team to beat in 2011, Yamaha has reportedly struggled to find a title sponsor for the upcoming season, that is until now.

After clinching the MotoGP Championship title while abroad, Jorge Lorenzo came home to a hero’s welcome when he returned to Spain this week. With most of the country hopping on the Jorge bandwagon, the most impressive honor we’ve seen so far is this huge mural on the side of an Air Europa airplane. Don’t expect the airline to be sponsoring Lorenzo anytime soon though, as Air Asia is reportedly closing in on a title sponsorship deal with Yamaha, while Fiat’s money is surely leaving the tuning fork brand with Valentino Rossi’s departure.

Source: Jorge Lorenzo (Twitter) via Bikes in the Fast Lane