Honda to fill financial void at McLaren

(GMM) Honda will fill any financial void at McLaren, after the great British team unveiled its new silver and black MP4-29 without replacing departed title sponsor Vodafone.

We reported recently that the Woking team and Lotus are tussling for a major sponsorship deal, rumored to be Sony Playstation.

But even if McLaren – whose sponsorship asking price is probably higher – fails to secure the deal, the respected correspondent for Germany's Auto Motor und Sport, Michael Schmidt, says the team is financially secure.

That is because incoming works engine partner Honda is coming on board with a whopping EUR 100 million per year in financial backing.

That package includes free engines, EUR 50 million in cash and a 50 per cent contribution to the drivers' salaries.

"Apparently, the money will already be flowing this season," said Schmidt.