VR46 looks to have finally given up on the delayed Aramco sponsorship by announcing that Italian 'Proximity Banking & Payments company' Mooney is to be its new title sponsor.

Mooney will be backing both the new MotoGP project of Luca Marini and Marco Bezzecchi as well as the continuing Moto2 team with Celestino Vietti and Niccolo Antonelli.

'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,' read a brief statement from VR46.

The deal looks to mark the end of a long running saga with Aramco, which began with a press release in April, declaring: "In 2022 the VR46 Team will debut in the MotoGP class together with Tanal Entertainment Sport & Media with Saudi Aramco, as the new Main Sponsor for the period 2022-2026."

When VR46 then completed a deal for Ducati machines in June, HRH Prince Abdulaziz bin Abdullah bin Saud bin Abdulaziz Al Saud said: "It would be fantastic for me if Valentino Rossi could compete in the next few years as a rider in our Aramco Racing Team VR46 together with his brother Luca Marini."

But Rossi opted to retire and doubts over the deal continued with team manager Pablo Nieto later admitting "Things are going very slow… There are some delays [with the Aramco deal], but we are on the way and have to keep working." 

The Aramco name was then absent from the VR46 teams listed in the provisional 2022 entry lists, announced in mid-November.

VR46 will have 2022-spec Ducatis for Marini and 2021 machines for rookie Bezzecchi.