Richard Branson’s Virgin Group could switch its Formula 1 sponsorship allegiances from Brawn to newcomer Manor in 2010 after an email sent by a senior FIA figure, leaked to the Guardian newspaper, suggested a deal had been secured.
Since a high-profile launch of what both sides were confident would be the first step towards a more expansive partnership on the eve of the new season in Melbourne, the championship-leading Brawn team and Branson have failed to agree a longer-term deal.
Indeed Branson revealed at Silverstone a fortnight ago that Brawn’s huge on-track success in 2009 meant its sponsorship rates had probably gone through the roof for next year, meaning he may subsequently look to sponsor a smaller team.
Now following speculation that John Booth’s Manor Grand Prix team – which unexpectedly gained one of the three new places on the 2010 grid last month – could secure Virgin sponsorship, the Guardian reports that Branson is set to cut its ties with Brawn at the end of the year and join the newcomer.
Citing a recent email reportedly sent by the FIA’s Alan Donnelly, Max Mosley’s official representative and F1's chief steward, it claims Virgin has already agreed to buy shares in Manor.
"Virgin have signed to be investment partners with a share holding of around 20%," the newspaper quoted Donnelly's email as saying.
The newspaper also claims that Donnelly – who was the subject of a letter of complaint by FOTA to the FIA earlier this month over an alleged conflict of interest, criticism subsequently dismissed by the governing body – offered to help arrange meetings between Manor, Virgin and the Saudi royal family over investment opportunities.
"I will be in the Kingdom of Saudi Arabia and look forward to seeing you at our planned meeting…with representatives of Manor and Virgin," Donnelly is quoted in the email sent to the Saudi royal family.
"However if you would like a pre-meeting with me privately on Sunday then please let me know."
But although the Virgin speculation continues to intensify, Booth himself is remaining tight-lipped about the rumoured Branson link-up – although he does reveal that the team’s 2010 budget has already been secured.
“All our funding is in place and has been for the last few months," Booth, whose Formula 3 team is based in Sheffield, told the Yorkshire Post newspaper on Thursday.
"The Virgin link is just speculation and I couldn't really comment on it for legal reasons, and it is unhelpful to speculate about Virgin."
Booth also said his team was hopeful that the cost-cutting measures to be introduced in 2010 and beyond would soon become clearer after the FOTA/FIA peace deal agreed last week resulted in the scrapping of the £40m budget cap his team originally entered the championship under.
"We've been following it, it's very complicated," Booth said of the recent developments.
"Hopefully, it should become clearer in the next couple of weeks. There does seem an intention from all concerned to get the costs under control.”
He added that he thought it would take his team three years before it could become a serious F1 force.
“We are hoping to be competitive by 2012, our third season," Booth said.