Honda Racing has identified a prospective lead sponsor for its factory Honda MotoGP team after the announced exit of long-term title sponsor Repsol, SportBusiness understands.
The motorsports division of the Japanese auto and motorcycle maker is thought to be in talks with an endemic brand for the position. Honda may retain the more prominent marketing presence it introduced in the motorbike this year.
This season, Repsol’s corporate orange colour was combined with Honda’s own corporate red as opposed to previous seasons when Repsol’s colours dominated the livery.
It is understood the Spanish energy and petrochemical company paid an eight-figure rights fee in dollars per season at the height if its 30-year association with the team.
Repsol has officially announced its exit, which was predicted by the motorsports press earlier this year, with a statement this weekend.
“Repsol has decided not to renew its current sponsorship contract with Honda Racing Corporation (HRC) in the MotoGP World Championship, which ends on December 31 of this year,” the statement read.
Honda lost its most marketable asset, the Spanish rider Marc Márquez, after the 2023 season, when the six-time MotoGP world champion ended his contract early, frustrated by the bike’s on-track performance.
Honda Racing has faced challenges funding its multiple racing teams in recent years, going all-in with some programmes, while compromising others. Honda Racing, for example, has reportedly been diverting funds into F1 engine development since 2023 for its 2026 Aston Martin deal, while considering an IndyCar exit after 2026 due to accelerating costs.
The collaboration between Repsol and Honda Racing is the longest standing partnership of its kind in two-wheeled motorsports. The relationship has produced 15 World Championships, six different World Champions, 183 premier class victories, 455 podiums and nine Triple Crowns.
SOURCE: https://www.sportbusiness.com/news/honda-lines-up-new-lead-sponsor-after-repsol-exit/