Ferrari have terminated a Method One sponsorship take care of Swiss blockchain expertise firm Velas, the crew mentioned on Thursday.
The Zug-based firm grew to become a accomplice of the Italian racing crew final season, with branding distinguished on the vehicles’ rear wings, as a part of a multi-year deal.
Velas was additionally title sponsor of Ferrari within the F1 Esports Sequence.
“Sadly, the settlement with Velas has been terminated early by us,” Ferrari mentioned on Thursday in response to a Reuters question.
“We don’t touch upon issues which are the topic of a dispute and/or litigation.”
Ferrari, championship runners-up final season and the oldest and most profitable crew within the sport, have additionally parted methods with expertise accomplice Snapdragon.
A crew spokeswoman mentioned that was a one-year dedication with the Qualcomm-owned model and each events mutually agreed to not lengthen.
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