NSTsports PETRONAS Yamaha Sepang Racing Team SRT have allowed some of their sponsors to delay payments to the team but admitted that the ‘force majeure’ clause in future contracts will have to be redefined. Covid19 MotoGP StayAtHome DudukRumah
SRT team principal Datuk Razlan Razali disclosed that their sponsors are still with the team for now despite the Covid-19 pandemic threatening to completely wipe out the MotoGP season.
“However, we have a few small technical sponsors in Europe, who are dealing in retail , and they have been forced to shut down for the last one month.Razlan added that the team have learned a lot from what has happened and will look to safeguard themselves against any possibilities in the future.“We all know that sponsorship and financial planning are key, but even in a worst-case scenario , you would never plan for something like this .
“ just like any other businesses that depend on good economy . If the economy goes south, the business can go bust.“However, what we have learned from this is that you need to specify in your contracts what is the definition of force majeure. This is something that we will sit down and really look at.”
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