BREAKING: INEOS buys into the Mercedes Formula 1 team
Breaking News
INEOS buys into the Mercedes Formula 1 team and now owns the German team together with Mercedes and Toto Wolff.
INEOS has long been seen as a sponsor of the Mercedes Formula 1 team and with ambitious owner Jim Ratcliffe, it is no surprise that INEOS is now co-owner of Mercedes. The team is now divided into three parties: Mercedes, INEOS and Toto Wolff. There is also news about the latter in this press release.
Wolff stays with Mercedes
As a team, Mercedes say they are entering a new period, in which it starts a three-year project with closer cooperation with INEOS. An important pillar of that new project is Toto Wolff, who will remain as Mercedes team principal for the next three years. With that, those questions about his future have disappeared.
With this announcement, it is not surprising to assume that Lewis Hamilton will also renew his contract soon. The Brit has been an important part of the current success and has enough to carry the upcoming project on his shoulders.
Mercedes-AMG Petronas F1 Team welcomes @INEOS as a one third equal shareholder alongside @Daimler and Toto Wolff
— Mercedes-AMG PETRONAS F1 Team (@MercedesAMGF1) December 18, 2020