Branson joins Formula 1 circuit with Manor deal

In a widely touted move, Sir Richard Branson's Virgin group has switched its Formula 1 sponsorship from Brawn/Mercedes GP, as reported on The First Post last month, to new team Manor F1. The Yorkshire-based team will become Virgin Cosworths and will race under the Virgin team banner.

Branson's empire gained substantial publicity during the 2009 season after they stepped in at the last minute to sponsor Ross Brawn's nascent team. The success of Brawn GP - it won the drivers' and constructors' championships - led to massive exposure for the Virgin brand across the globe.

However with German automaker Mercedes becoming the controlling party in that team last month, it was felt that Virgin should seek a new deal that allows them more leeway to promote themselves.

Virgin is expected to become a stakeholder in - rather than just a sponsor of - Manor, which was one of four new teams formally announced as joining the starting grid next season. Manor signed German driver Timo Glock from the now defunct Toyota team earlier this autumn to be their number one, and is currently on the look-out for another driver to pilot the Nick Wirth-designed car.

While new to Formula 1, the Manor team has enjoyed success in the lower echelons of motorsport since it was set up in 1990, winning Formula 3 races and having a young Lewis Hamilton and fellow F1 world champion Kimi Raikkonen drive for them in the past.

Meanwhile, the FIA warned Toyota yesterday that their decision last month to pull out of the sport, in defiance of their obligations under the Concorde agreement between teams and the sport's governing body, could lead to them receiving a massive fine for breaching their contract.

"Toyota Motorsport GmbH remains formally bound by the Concorde agreement to put forward a team for participation although it has indicated it will not be in a position to do so. An announcement will be made regarding this entry in due course," the FIA said in a statement. ·