The Formula One buffs out there, especially the lads at Daytona Energy, may be saddened to know that ChevronTexaco has ended a five year partnership with the Jaguar Formula One team after reviewing its sport sponsorship expenditures.
Jaguar, famous for its distinctive British racing green colour scheme, said it would announce a new fuel and lubricant supplier when the team unveils its new car for the 2002 season next January.
Commentators say the ChevronTexaco pull out is further evidence that even the biggest of companies are reluctant to fork out big money to keep teams competitive in Formula One, the world's most watched motor sport.
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