Shaw and Partners has confirmed it has pulled its sponsorship of Erebus, according to an announcement quoted by News Corp Australia.

“We have just decided to go our separate ways and wish them all the best for the future,” said a spokesperson for the financial services firm.

“We have had a great four-year association with them and we wish them all the best.”

No more specific reason has been given for the parting of ways, although the timing suggests it is almost certainly linked to the spectacular developments which were brought to light earlier this week by Speedcafe.

The team had competed as ‘Coca-Cola Racing by Erebus’ in 2023 but there are also serious doubts as to whether the soft drink brand will remain on its cars in 2024.

Erebus said in a statement quoted by News Corp Australia following the Shaw and Partners announcement, “We deeply value all of our partners, both past and present.

“Erebus Motorsport has announcements on our 2024 partnership program planned for the coming weeks.”

Shaw and Partners held major sponsor status for the final four events of the 2021 season, when Will Brown broke through at Sydney Motorsport Park for his first race win in the top tier of Supercars, and more recently for Jack Perkins’ Super2 entry.

It is also active in several other sports, presently listing sponsorships of the Manly-Warringah Sea Eagles (National Rugby League), ACT Brumbies (Super Rugby), Shannon Eckstein Ironman Classic, and more – including Erebus, for now – on its website.

Furthermore, the Shaw and Partners Foundation has “a strong focus on mental health, education and social inclusion,” and is claimed to have raised over $8 million since being established in 2015.

Brown last year negotiated an early exit to his contract with Erebus and will line up on the grid with Triple Eight Race Engineering in 2024.

It is highly likely that Kostecki will also part ways although the Barry Ryan-led squad has thus far only confirmed his absence for Event 1 of the season at Mount Panorama, when Todd Hazelwood will fill the breach.

Hazelwood had been earmarked for a co-driver role with Brown’s replacement, Erebus returnee Jack Le Brocq, before the bombshell developments surrounding Kostecki.

He will shake down the #99 Camaro, which was set to take the #1 plate, at Winton next week.