March 14 (Reuters) - British mobile operator Vodafone is set to end its long-running sponsorship of theFormula One team McLaren following a review of marketingstrategy, The Financial Times reported on Thursday, citing aVodafone spokesman who confirmed the decision.
The Financial Times reported that Vodafone has paid as muchas $75 million every year as part of its deal with McLaren,which it struck in 2007.
Vodafone said its decision was not made on price and that itexpected to divert a similar amount into a new global brandingstrategy, said the newspaper, citing a Vodafone spokesman.
Vodafone will create its own marketing platform that willsponsor local events more directly rather than partner withother brands and events, it said.
In 2008 the company pulled the plug on its sponsorship ofthe English cricket team.
Vodafone could not be reached outside office hours.