Spanish media are reporting that CEPSA (Compañía Española de Petróleos) is set to withdraw from its F1 sponsorship of Toro Rosso. CEPSA is a Spanish based multinational petroleum company producing oil and gas along with manufacturing bio-gasoline and is an active leader in the field of environmentally friendly plastics and green energy. The relationship between CEPSA and Toro Rosso began in 2011 though the company’s parent organisation IPIC is now reported to want to focus its marketing on Real Madrid.
IPIC recently financed the renovation of the Santiago Bernabéu Stadium and is believed to be committed to assisting Real Madrid in opening their own brand ‘museums’ worldwide.
CEPSA are a significant contributor to the Toro Rosso budget funding around $15m of the total spend which was reported by Autosport to be around $135m in 2015. Speculation has been rising in Spain of the split between CEPSA and Toro Rosso since the Spanish truck racer Antonio Albacete (2006 and 2010 European champion), revealed recently that his and all other CEPSA motorsport funding was being withdrawn.
Further ‘evidence’ of the Spanish Oil Company’s intentions has been drawn from the fact on their website, the following celebratory article was recently published entitled “Mission Accomplished: We at Cepsa are proud that we have helped Carlos Sainz reach his goal – Formula 1.”
Toro Rosso have also been the subject of recent speculation that they could be the imminent target for a FIAT-Chrysler acquisition. The team would be rebranded Alfa Romeo and be supplied with Ferrari power units.