On Thursday night Motorsport.com reported that Petronas would be ended its support for SRT in the MotoGP World Championship at the end of the current season, just three years into the squad’s tenure in the premier class.
The support will also end for the Petronas Sprinta Moto2 and Moto3 teams, with both outfits expected to be folded by SRT at the end of the year to safeguard the MotoGP project.
On Saturday morning Petronas has now confirmed Motorsport.com's reports in a press release.
Sepang Circuit CEO Azhan Shafriman said: “SIC wishes to thank Petronas for the unwavering support during the partnership and remarkable journey together.
“We respected Pertonas’ decision, and mutually agreed that this partnership has accomplished its purpose and objectives.
“We have enjoyed a meaningful partnership, with great achievements and memorable moments with the team.
“I believe this is not the end of our collaboration in motorsport as we continue our quest in nurturing Malaysia’s motorsport talent.
“SIC is proud to have been involved in the formation and early development of the team that had surpassed expectations in its performances.
“We wish the team all the best in the next phase of its evolution under a new entity.”
SRT will confirm its plans for the 2022 season during the British Grand Prix weekend, where back in 2018 it made its MotoGP plans official for its debut season.
Motorsport.com understands SRT will continue with Yamaha beyond 2021, but the agreement between both parties has been altered.
Instead of receiving any factory-supported machinery, SRT will be given two ‘B-spec’ bikes for 2022.
Current SRT rider Franco Morbidelli is set to step up to the factory Yamaha squad alongside Fabio Quartararo in 2022 to replace the outgoing Maverick Vinales.
With Valentino Rossi retiring from MotoGP at the end of the year, SRT is in need of two replacements but has struggled to snare the names it wanted.
First choice Raul Fernandez was locked into a two-year deal with KTM to join Tech 3, while Rossi protege Marco Bezzecchi now looks set to join the VR46 Ducati team next season.
SRT Moto3 rider Darryn Binder – younger brother of KTM’s Brad Binder – is set to be promoted directly to MotoGP on one of the satellite Yamahas, while SRT’s Moto2 riders Jake Dixon and Xavi Vierge have also been linked to seats.