Telefonica pulls out of F1
Telefonica, Spanish telecommunications company, announced on Tuesday that they are ending their sponsorship of the Minardi team at the end of the 2000 season.
In turn Telefonica confirmed their commitment to their involvement in rallying and motorcycling and a media release by the company stated: "Telefonica have decided not to renew their sponsorship agreements with Formula 1 as from next season after considering that the various options available do not meet the aims of the company".
Marc Gene was linked to the Prost team for the 2001 season as his sponsorship from Telefonica would have helped pay for the team's Ferrari engine supply. Autorace reported on the 13th of October the sentiments of Gene regarding his future in F1 and his involvement with Telefonica.
From Oct 13: Gene comments on Prost rumours
It has been said that Marc Gene is the hot favourite for partnering Jean Alesi in the 2001 season, specially with the Telefonica sponsorship which will help pay for the Prost team's Ferrari engine supply.
ITV reported on Gene's sentiments regarding the rumours and he was quoted as saying: "I don't have to follow Telefonica if they choose to leave, and I would like to drive a Minardi-Supertec next season. I know how good the team is and next year there would be a real chance to show that. There would be no excuses."
With the pullout of Telephonica, is this the end of the line for Gene, who must now either find new sponsorship or find a team who will take him on merit ?