News Details
‘Ineos makes £700m bid to buy the Mercedes F1 team'
Ineos could move from team sponsor to team owner with the Daily Mail reporting that the company is ‘close to signing a £700million deal' to buy the Mercedes F1 team. Earlier this year Ineos, one of the world's largest chemical producers, teamed up with Mercedes in a five-year deal. At the time Ineos owner Jim Ratcliffe and Mercedes motorsport boss Toto Wolff called the deal a 'partnership', not a sponsorship, and one that was worth £100m to the Formula 1 team. However, it now looks as if all that could become ownership. According to the Daily Mail, Ineos has agreed to buy '70 per cent share in the German team' which is well on its way to winning a seventh successive championship...
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4y ago from PlanetF1.com
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