After months of back and forth, it has been confirmed Aramco will in fact not sponsor the VR46 Racing Team in MotoGP.

Earlier this year, Tanal Entertainment Sport & Media announced the state-owned Saudi Arabian oil giant would take naming rights of the VR46 Racing Team in 2022.

However, just a day after that announcement, Aramco denied any involvement with Tanal Entertainment Sport & Media or in the team despite Rossi affirming a deal had been done.

A lengthy saga followed with suggestions the VR46 team had been sold, promises of $18 million in sponsorship, followed by a press conference no-show from HRH Prince Abdulaziz bin Abdullah Al Saud of Tanal Entertainment Sport & Media.

Now, it appears the Aramco saga is over, with Italian company Mooney confirming it has taken naming rights of the team.

“Mooney, the first Italian Proximity Banking & Payments company, will be the new title sponsor of the VR46 Racing Team, the motorcycle team created by Valentino Rossi and competing in the MotoGP and Moto2 World Championship,” read a statement.

“Following the agreement, the new team naming will be Mooney VR46 Racing Team and will be used in all images of the Team (including bikes and rider suits) and in all official communications.

“Further information will be revealed on January 3rd.”

Italian duo Luca Marini and Marco Bezzecchi will ride for the Mooney VR46 Racing Team on a pair of Ducati Desmosedici GP21s.

The team will be led by Pablo Nieto, the squad’s Moto2 team manager.