The brands' exit will be a major blow to F1, which is suffering its biggest crisis in recent years as TV viewing figures plummet as a result of Ferrari's overwhelming dominance.
Orange, the title sponsor of the troubled Arrows team, is to issue a statement within the next week which is expected to reveal its withdrawal from the sport after three years.
The company spends around £20m a year on its F1 sponsorship. Peter Raymond, Orange's global sponsorship chief, refused to comment.
MasterCard, a sponsor of the Jordan team for the past six years, is also on the verge of pulling out of F1 as it concentrates on football sponsorships such as the UEFA Champions League. Its £5m-a-year deal with Jordan is up for renewal at the end of the season.
Arjen Kruger, MasterCard's European head of brand marketing and sponsorship, confirmed that the company was "re-evaluating" its sponsorship of Jordan and association with F1. He insisted that no final decision had been made.
Earlier this week, it emerged that F1 chief Bernie Ecclestone is planning radical changes to the sport including adding weight to the cars of leading drivers.
If you have an opinion on this or any other issue raised on Brand Republic, join the debate in the .
_1.jpg)
.jpg)
