Mobile phone company to switch from Ferrari to McLaren

Telecommunication company Vodafone will put an end to their association with Ferrari and turn to another Formula One team McLaren.

The mobile phone enterprise said on Wednesday it had signed a multi-year deal with McLaren to become the title sponsor of the team in January 2007.

Ferrari has just suffered its worst season since 1996, ending a run of six consecutive constructors' titles with third place behind champions Renault and McLaren.

Vodafone didnot disclose the financial terms of the deal but their sponsorship deal with Ferrari, which runs out at the end of 2006, has been reportedly worth about 40 million US dollars per year.

Source: Xinhua