Mercedes F1 team signal future intent with Ineos deal
London — Formula One champions Mercedes sent a statement of intent about their future on Monday with the announcement of a five-year principal sponsorship deal with British billionaire Jim Ratcliffe’s petrochemicals giant Ineos.
Mercedes F1 boss Toto Wolff hailed a new chapter for a team who have won the past six drivers’ and manufacturers’ titles with Lewis Hamilton chasing his seventh career crown this season.
Formula One is entering a new era in 2021 and the teams, including Mercedes, have yet to sign a new agreement with US-based commercial rights holders Liberty Media beyond 2020, with some evident sticking points.
Despite that, Wolff — a shareholder in the team — sounded optimistic.
“We are in this for the long term,” Wolff said at London’s Royal Automobile Club. “We like the platform but at the same time we are in negotiations with the rights holders and things need to be sorted out.
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