Henkel and Brawn GP have announced that they have settled the sponsorship issue and that all potential claims over the matter will be dropped.
Earlier this month, German company Henkel denied that they had agreed to sponsor Brawn GP for 90 million Euro, claiming that the person who put together the deal was no longer a member of their company and they did not have the authorisation to put the deal together anyway.
The two parties have now said that they have settled the dispute.
“Brawn GP announced today that the differences between Brawn GP and Henkel with regard to a Formula 1 sponsorship have been resolved by mutual agreement,” a statement from Brawn GP read.
“All potential claims will be dropped. As a consequence, all court proceedings will be withdrawn.
“The new Formula 1 Team Mercedes GP Petronas together with the colleagues from the former Formula 1 Team Brawn GP will continue to cooperate with the Prosecutor’s Office and assist in the further clarification of the matter.”