To advertise its Scotch whisky brand Johnnie Walker, Diageo commenced a reportedly $23 million per year sponsorship deal with the Mercedes-powered team in 2005.
Diageo's chief executive Paul Walsh insists the deal is worth it.
"It is a lot of money but you have 400m people watching a two-hour grand prix and all the other races around the world, it's a great opportunity to promote the brand to the right demographic," he told The Times.
"And, of course, it's now part of the championship-winning team, and that's worth a lot in itself," Walsh added.
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