Why The Repsol Honda Partnership Is Not Going Away Any Time Soon
Submitted by David Emmett on
For the past couple of months, rumors have been doing the rounds that Spanish oil giant Repsol was about to withdraw its sponsorship of the factory Honda squad, and Red Bull would step in to take over as title sponsor.
There were plenty of reasons to give credence to the rumors. The global Covid-19 pandemic has caused the oil price to plummet: the price of a barrel of Brent Crude went from nearly $70 a barrel in February to under $20 a barrel in April, though it has since recovered to just over $40 a barrel. That is still roughly 33% lower than it has been for the past couple of years.