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No title sponsor for McLaren at Friday MP4-29 launch

Jan 21, 2014, 3:30 PM EDT

McLaren's F1 driver Button of Britain sits in his car as mechanics push him during a training session at Circuit de Catalunya racetrack in Montmelo Reuters

McLaren’s search for a title sponsor is apparently still ongoing, as the team will not be announcing one in time for the online launch of its new MP4-29 car on Friday.

The team enjoyed a seven-year partnership with telecommunications company Vodafone before it departed at the end of last season.

However, team managing director Jonathan Neale says that things are still strong financially in Woking as they try to bounce back from one of the toughest seasons in team history.

“I’m pleased to say that McLaren Racing will have a larger operational budget available to it in 2014 than it’s had in any previous seasons…We’re in good shape,” Neale said according to the UK’s Guardian newspaper. Neale also noted that the team’s current group of sponsors remain, in his words, the “envy of the pitlane.”

In a season that was already set for many changes on the track due to the new technical regulations, McLaren itself now potentially faces even more off of it with the return of Ron Dennis as CEO.

Ever since Dennis came back to the top of McLaren, the major buzz has been centered on the future of team principal Martin Whitmarsh, who many observers expect to lose that role soon.

Neale, however, would not be drawn into revealing what Dennis may have in mind in regards to the team’s leadership, telling the Guardian: “It wouldn’t be appropriate for me to comment of their behalf.”