The existence of Ferrari's major new Formula One team sponsorship with diamond company 'De Beers' has been cast into doubt.
American business and financial magazine Forbes quoted a London based spokeswoman as denying that the South African and English based corporation would replace Vodafone in 2007.
“There is a natural association between diamonds and the glamorous world of F1,” Lynne Hori said, “but (De Beers) have no intention of sponsoring a Formula One team.”
A spokeswoman at Ferrari shed no further light on the mystery, as the international press went into overdrive with reports that the deal was now struck.
“We know nothing about it,” she told the German Express publication. “Furthermore, we do not comment on speculation.”