INEOS reassures commitment to Mercedes F1 amid portfolio review
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INEOS reassures its commitment to Mercedes F1 amid a portfolio review of its global sports investments. Learn more about the implications for Formula 1, cycling, and football.
INEOS has confirmed its continued commitment to the Mercedes Formula 1 team, despite initiating a review of its global sports portfolio. The British multinational chemical company, which holds a one-third ownership stake in the Brackley-based team, emphasized that its relationship with Mercedes remains unaffected.
INEOS maintains strong ties with Mercedes F1
The Mercedes F1 team is equally owned by INEOS, Mercedes-Benz AG, and team principal Toto Wolff. Since joining as a principal sponsor in 2020, INEOS expanded its role to become a one-third shareholder later that same year. This partnership has been both profitable and strategically valuable, with the team now valued at nearly $4 billion, according to recent reports.
In a statement to PlanetF1.com, an INEOS spokesperson said, “We remain a committed owner and partner to the team and will look to continue our relationship on America’s Cup, which the team were a significant part of for AC37.”
With Mercedes F1 proving to be a sound investment, no changes are expected in INEOS’ sponsorship or ownership of the team. The team continues to benefit from strong financial performance, as documented in Companies House filings.
Portfolio review and America’s Cup changes
The portfolio review comes after INEOS confirmed a split with Sir Ben Ainslie’s INEOS Britannia sailing team following their entry into the 37th America’s Cup. This marked the first British boat to contest the event in 60 years. However, disagreements between Ainslie and INEOS chairman Sir Jim Ratcliffe over the team’s direction led to the separation.
INEOS will compete in the 38th America’s Cup under the same name, with Dave Endean taking over as CEO. Mercedes F1 will continue to play a critical role by providing technical expertise, led by James Allison, to support the team’s design and engineering efforts.
Other INEOS sporting ventures under review
In cycling, the INEOS Grenadiers team is seeking external sponsorship to alleviate the £50 million annual financial burden on the company. Despite this, INEOS has committed to the next World Tour cycle. However, cycling expert Johan Bruyneel suggested that Ratcliffe may be reducing his enthusiasm for the project, noting his reluctance to make significant new investments.
Ratcliffe’s involvement in British football has also garnered attention. Since acquiring a 27.7% stake in Manchester United in December 2023, he has implemented cost-cutting measures, including reducing Christmas bonuses, removing ambassadorial roles for key figures like Sir Alex Ferguson, and laying off 250 non-playing staff.
Commitment to Mercedes remains steadfast
Despite these changes across its sports portfolio, INEOS has made it clear that its commitment to Mercedes F1 remains unwavering. With the team continuing to deliver both financial and competitive success, the partnership between INEOS and Mercedes appears as strong as ever.
Stay tuned for further updates on the Mercedes F1 team and the latest developments in Formula 1.
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