It's only been a few days since those rumours first broke. And it's really a case of which source you believe is the lesser evil.
On the one hand, you have Pitpass,
who claim that Coca-Cola has been researching Formula 1 for a month now, and that their head of global sports and entertainment marketing is personally involved in the project.
On the other hand, you have Joe Saward,
who thinks the notion is ridiculous because of the contract between McLaren and GlaxoSmithKline - who have a presence on the MP4-27 through Lucozade (a sports drink like Powerade and Gatorade) - and that this isn't the first time rumours of Coca-Cola entering Formula 1 have come up.
Pitpass has a poor reputation among Formula 1 fans; the site is Bernie's favourite outlet for "news", which is actually him playing the political game with whichever team or circuit isn't doing what he wants them to. Saward, however, used to have a really good reputation, but then embarrassed himself with a few stupid stunts aimed at attacking Vijay Mallya, and really lost a lot of credibility.
Perhaps the most interesting angle here is Will Buxton, who covers GP2 and GP3 for SPEED. GP2 team Scuderia Coloni recently had a falling-out with the series organisers and will leave the championship at the end of 2012. They will also forefeit all of the points they have scored and will score this year, and will not receive prize money. Evidently, something serious has happened. What few details we have beyond that have come from Will Buxton, who reported that the falling-out centred on a "breach of trust" between Coloni and the other teams. That's more than anyone else has been able to find out, so I'm willing to see what he has to say on Vodafone and McLaren. That said, he hasn't had anything to say about it for two weeks, but this is what he put on Twitter:
So Vodafone is reviewing its F1 involvement. Have great intel on who may replace it on the McLaren in 2014 and a livery that will be epic.
I have to do a bit of digging around first, but fear not McLaren fans, if true it is a great sponsor. Will report back as soon as I know.
No I just made a mistake, as the Vodafone sponsorship ends after next season, not this.
Yes, there's another deal that would make this one nigh on impossible... that's why I need to do some digging.
That's all.
It's possible that Vodafone will see out the contract until the end of 2014 and simply not renew it, but I've also heard that they were upset about the logos appearing on the car in Bahrain, and tried (but failed, due to the nature of the contract) to have them removed. I've further heard that they aren't confident that a race in Bahrain in 2013 can go ahead without the same level of controversy, and may terminate the contract early if Bahrain is on the 2013 calender.
But right now, it's all rumour and speculation.