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When Yamaha’s MotoGP team lost its sponsorship from Petronas, it seemed like the buzzards had begun circling around the Japanese company’s racing efforts. Thankfully for GP racing fans, our friends at MotoMatters got word that Petronas’ departure was making way for a new sponsor, JX Nippon Oil & Energy Corporation.

Now formally announcing that JX Nippon Oil will sponsor Yamaha Racing’s factory MotoGP squad, our pre-season attention can now shift to see if Jorge Lorenzo and Ben Spies will have some new livery on display when Yamaha makes its formal 2012 team unveiling…oh, and how fast the 2012 Yamaha YZR-M1 will be against the factory Ducati Desmosedici GP12 and Honda RC213V. Something mildly related to all this is after the jump.

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.

Calling it the “natural conclusion” of their partnership, Yamaha’s MotoGP team and Malaysian oil giant Petronas have split ways after three years of racing sponsorship. Concluding a deal that is reportedly worth $8 million a year to the factory MotoGP team, Yamaha’s loss of Petronas will surely be felt in the team’s pocketbook, assuming of course that the Japanese manufacturer cannot replace the company with another on its sponsor roster.

After losing title sponsor Fiat for the 2011 season (due almost entirely to Yamaha’s inability to retain Valentino Rossi), Petronas and Yamaha Motor Kenkana Indonesia (Yamaha’s Indonesian arm) were left as the team’s main backers and official sponsors. Now with the loss of Petronas, many of the names on the side of the Yamaha YZR-M1 are those belonging to the tuning fork brand, leaving the financial burden for Yamaha’s MotoGP racing effort to come squarely out of one Yamaha coffer or another.

Surely to be taken as a sign of the decreased value of racing in MotoGP to race sponsors, this news has to be especially troubling for Yamaha, as it continues to lose its biggest sponsorship accounts, one after another. While it would appear that the Japanese manufacturer will have to foot another $8 million a year out its internal budget, the only silver lining to the situation could be the hope that the loss of Petronas is making way for a more lucrative sponsor. We wouldn’t hold our breath on that one though.

After a somber tribute to Marco Simoncelli, racing at Valencia commenced Sunday under ominous skies. While the weather has been variable throughout the Valencian GP, Sunday’s forecast was especially treacherous, as the off-and-on drizzle was neither damp enough for a full-wet setup, nor dry enough for race slicks. Nothing better highlighted this fact than a blitzkrieg lap by American Josh Hayes, which saw the AMA Superbike Champion on slicks dust the rest of the rain-shod MotoGP field by three seconds on the closing Warm-up Session lap.

With the wetter weather favoring the struggling Ducatis of Nicky Hayden and Valentino Rossi, the chance of rain equated to a chance for a Ducati Corse podium. The RC212V of Casey Stoner of course stands in their way as always, as does the Repsol Honda of Dani Pedrosa. Also fast this race weekend has been Alvaro Bautista, the Spaniard surely encouraged by a local crowd, as well as the prospect that his results in Valencia could help sway a very reluctant Japanese management into racing in MotoGP next year.

Randy de Puniet is also worth mentioning, as the Frenchman has been one of the fastest Ducatis all weekend, and missed a front-row start by only .06 seconds. With four manufacturers starting in the top five grid spots, the 2011 MotoGP Championship and the era of 800cc GP bikes, concluded with some of the most diversity it has ever seen on starting line.

It appears that Jorge Lorenzo has not recovered enough from the injuries he sustained at the Australian GP. Splitting and losing the tip of his ring finger on his left hand, Lorenzo successfully underwent surgery after Phillip Island, but as feared Spanish rider’s injuries still require further time for recovery. As such, the Mallorcan has been marked a scratch for this weekend’s Valencian GP, though his status for next week’s 1,000cc test at Valencia remains a question mark.

Yamaha Racing just can’t seem to get a break these last few rounds of the 2011 MotoGP season. With Jorge Lorenzo already sidelined from the Malaysian GP because of the finger injury he sustained at Philip Island, factory Yamaha rider Ben Spies has also withdrawn from the Malaysian round. Sitting out the Australian GP last weekend, Spies had been struggling with the injuries he received while crashing at 167 mph at Phillip Island. Sore and in pain, Spies’s injuries have caused the American rider to visit the gravel traps this weekend, which have concussed the Yamaha rider, and torn further the soft tissue around his ribs.

With just two rounds left in the season, MotoGP comes to Sepang this weekend for the Malaysian GP. Dominating the Free Practice sessions, Honda clearly has the Asian track’s number, while the rest of the field shows signs of a long season. Hector Barbera leads the walking-wounded, as the Spanish rider has fought through the race weekend, nursing his stapled shoulder through each session. Barely able to complete a few laps at a time, there are serious doubts about the Mapfire Ducati rider’s ability to ride the full-race distance, though no one is questioning his determination.

While Barbera will likely give the race his best effort, Rizla Suzuki wild card John Hopkins has already thrown in the towel, as the extreme physical demands have aggrivated Hopper’s hand injury beyond his tolerance. In the Yamaha tent, Jorge Lorenzo is of course absent, after his traumatic finger injury in Phillip Island. Replaced by Yamaha test rider Katsuyuki Nakasuga, Lorenzo’s absence and an ailing Ben Spies have made Sepang another forgettable race weekend for Yamaha Racing. Still sore from his high-speed crash in Australia, the American Spies has noticeably not been himself, with his chest and ribs still bothering him considerably. The one glimmer of hope for Yamaha in Malaysia has been Colin Edwards, who has been one of the few riders able to mix things up with the four factory Hondas.

Though grip issues from the intense heat have plagued the field throughout the weekend, Sepang has otherwise provided MotoGP with perfect weather for the Malaysian GP. The heat has been a mixed bag for Ducati Corse, as Valentino Rossi and his crew have noticeably been off the pace, and not able to capitalize on the team’s off-season testing at Sepang. Meanwhile, Nicky Hayden has been shining on the Ducati Desmosedici GP11.1, as the American and former-World Champion has been the Italian bike to beat, and have been showing strong second row potential. How would everyone sort out in qualifying though? You can find out after the jump.

With its two main racing sponsors being Malaysian oil Company Petronas and Yamaha Motor Kenkana Indonesia, Sepang is an important market for Yamaha Racing, and Jorge Lorenzo is a popular rider with Malaysian fans. This puts Yamaha in a quandary this weekend at the Malaysian GP, as the Spanish rider will be unable to compete in the penultimate GP round as he is still recovering from the finger injury he sustained at Phillip Island.

Needing a rider to fill-in for Lorenzo, Yamaha Racing has tapped factory test rider Katsuyuki Nakasuga to ride the factory Yamaha YZR-M1 at Sepang. The 30-year-old Nakasuga comes with a resume that includes not only testing the M1 with its Bridgestone tires (familiarity with the Japanese tire being paramount, just ask Toni Elias), but also competing in the 2011 All Japan Road Racing Championship, where he currently sits third in the JSB1000 class.

Yamaha has released a statement saying that factory MotoGP rider Jorge Lorenzo underwent successful surgery to his left ring finger in Melbourne after Sunday’s Australian GP. Lorenzo injured his hand during a violent tankslapper coming out of Turn 12 during the race warm-up session at Phillip Island. The tragic incident caused the Spanish rider to miss racing in Australia, effectively handing the 2011 MotoGP Championship to Casey Stoner. Thankfully however, early reports indicate the injury will not be career-threatening, and Yamaha is reporting that as a result of the surgery, no functionality will be lost in either Lorenzo’s finger or his hand.

Within an hour of the news that Jorge Lorenzo had been medically ruled out of competing at Phillip Island, Ben Spies has also said he won’t compete because of his injuries from his crash on Saturday. Going off the track at 167 mph, Spies suffered injuries to his chest and head in the high-speed off. Likely bruising and possibly cracking his ribs, Spies valiantly took part in the Australian GP’s warm-up session this morning, though lapped at a considerable slower pace and complained of concentration problems. In too much pain to ride in this afternoon’s race, Spies’ retirement for the weekend means that Yamaha Racing is out for the GP down under.

UPDATE: MotoGP.com.au has some photos of the crash (see above). Check them out here.

Jorge Lorenzo has been deemed unfit to compete in the Australian GP, after injuring his finger during the Warm-Up session at Phillip Island. Encounter a major headshake, Lorenzo hit the ground hard as his Yamaha YZR-M1 rounded the corner onto the front straight. Grasping his left hand afterwards, it has become apparent that Lorenzo has injured his ring finger in the crash.

Early reports state Lorenzo severed the tip of his finger, while reporters outside the Phillip Island Medical Center were briefed that the tip of his finger had been lacerated and split open. Regardless of the extent of Lorenzo’s unfortunate injury, the impact for this weekend is that the still reigning-World Champion will not compete in the Australian GP this week, effectively handing Casey Stoner the 2011 MotoGP Championship if the Australian can finish 6th or better in this afternoon’s race.