Following intense discussions, the governing bodies of the Formula 3 Euro Series and Kumho Tire Thursday jointly announced that the sponsoring deal expiring on 31st December, 2011 won't be extended.
And with the expiring of the series partnership that has been running since the creation of the series, back in 2003, the Korean tire manufacturer based in Seoul also will cease its supply of the control tires for the series.
"With Kumho, the Formula 3 Euro Series loses an always loyal partner," said Walter Mertes, the Formula 3 Euro Series' Managing Director.
"On the other hand, it also gains the partnership with another promising global player of the tire-manufacturing industry. But it speaks for the partnership with Kumho that the parties involved succeeded in splitting up in amicable fashion. I would like to thank all those involved at Kumho for their always exemplary and cooperative approach."
The negotiations with the new tire and series partner for the 2012 season are about to be completed and will be communicated as soon as the new deal will been signed.
And with the expiring of the series partnership that has been running since the creation of the series, back in 2003, the Korean tire manufacturer based in Seoul also will cease its supply of the control tires for the series.
"With Kumho, the Formula 3 Euro Series loses an always loyal partner," said Walter Mertes, the Formula 3 Euro Series' Managing Director.
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| Photo: F3 Euroseries |
"On the other hand, it also gains the partnership with another promising global player of the tire-manufacturing industry. But it speaks for the partnership with Kumho that the parties involved succeeded in splitting up in amicable fashion. I would like to thank all those involved at Kumho for their always exemplary and cooperative approach."
The negotiations with the new tire and series partner for the 2012 season are about to be completed and will be communicated as soon as the new deal will been signed.