Sponsor CNBC switches from Sauber to McLaren

McLaren has announced a new sponsor in CNBC, the leading global business news network, which has switched from the Sauber team after three seasons together.

McLaren said the new multi-year deal will be used to "unlock the potential of the network’s powerful audience of business leaders and investors", as it seeks to boost its fortunes following a dismal few seasons.

"CNBC is a world-class, industry-leading brand and a superb fit for McLaren," said team boss Zak Brown. "This partnership will greatly enhance our ability to reach a global business target audience while enabling both CNBC and McLaren to highlight shared attributes and values.

"Formula 1 is a sport undergoing exciting change at multiple levels and bringing that story to a global business will help raise the profile not only of McLaren and CNBC but the sport of Formula 1 too."

KC Sullivan, president and managing director at CNBC International, added: "With a shared passion for sporting excellence, CNBC is looking forward to working with the McLaren family of brands to tell the story of cutting edge innovation."