Mercedes announced chemicals company INEOS as its new principal partner for the next five years. Petronas will also remain as title partner.
The sponsorship deal was announced at the Royal Automobile Club and is said to be on the same level as the team’s long-time deal with Petronas. Earlier this year Mercedes announced a performance partnership with INEOS sailing and cycling teams and now the deal has been expanded. INEOS is owned by Sir Jim Ratcliffe, Britain’s richest man.
In addition, at the same event, the team revealed its new 2020 livery. You can watch the full video of the partnership announcement and livery reveal here. You can take a look at the photos of the new livery here.
This announcement comes at a time when Mercedes’ future in Formula 1 beyond 2020 is being brought into question. Surely the long-term deal of this magnitude is a huge step toward an official confirmation of Mercedes’ continued participation in the sport.
You can read Mercedes’ full press release below:
The Mercedes-AMG Petronas Formula One Team is delighted to announce a new five-year principal partnership with global manufacturer INEOS. The agreement sees INEOS extend its existing performance partnership to become principal partner of the team and increase its position in sport.
“It’s a proud moment for INEOS to become principal partner to the world’s best Formula One team – and by extension one of the world’s most prestigious brands, Mercedes-Benz”, said Sir Jim Ratcliffe, Founder and Chairman of INEOS.
“The Mercedes team is a leader in global sport and have consistently shown that they are at the forefront of technological innovation and human performance. Their grit and determination to redefine what is possible makes them a natural fit for INEOS.
“By strengthening our partnership with Mercedes-AMG Petronas it will allow us to identify and unlock even greater performance gains across the wider INEOS sports family.”
Toto Wolff, Team Principal and CEO of the Mercedes-AMG Petronas Formula One Team commented, “It is a very proud moment for us to welcome INEOS to Mercedes in their new capacity as Principal Partner. The company’s ambition, dynamism and entrepreneurial flair are a perfect fit for the spirit of Mercedes-AMG Petronas.
“Both companies share a restless desire to improve every day and a strong commitment to achieving the very best results. Our partnership will be defined by tackling great challenges together – on the race track, on water and on the stages of the Grand Tours – and we will be aiming to raise the bar in each of them.
“Furthermore, this new partnership is an important cornerstone of our future plans in Formula One. It once again serves to demonstrate the attraction of the sport for ambitious, global brands with a long-term vision for success.”
The principal partnership is an extension to the performance partnership which was signed at the end of the 2019 between INEOS and Mercedes-Benz Applied Science (MBAS). This deal will strengthen the partnership and will see MBAS working with INEOS’ sports division to tackle technological challenges across their sports and identify ways to improve performance. The INEOS logo will be featured on the 2020 Mercedes-AMG Petronas Formula One car and will add a distinctive new colour to the car’s livery.
The extended multi-year partnership complements the wider INEOS sporting family which includes the INEOS 1:59 Challenge with Eliud Kipchoge breaking the two-hour marathon barrier, INEOS TEAM UK, Britain’s challenger for the 36th America’s Cup and Team INEOS, the world’s best cycling team. Ligue 1 football club OGC Nice and Swiss Challenge League side Lausanne-Sport are also part of the portfolio, alongside charitable participation initiatives, The Daily Mile, INEOS GO Run For Fun and the 1851 Trust.
INEOS http://www.ineos.com is a leading manufacturer of petrochemicals, specialty chemicals and oil products. It has 34 businesses, with a production network spanning 171 manufacturing facilities in 24 countries. From paints to plastics, textiles to technology, medicines to mobile phones – chemicals manufactured by INEOS enhance almost every aspect of modern life. INEOS had sales in 2018 of around $60bn and EBITDA close to EUR6bn. Its products make a significant contribution to saving life, improving health and enhancing standards of living for people around the world.
Here is a short partnership announcement video:
— Mercedes-AMG F1 (@MercedesAMGF1) February 10, 2020
Source: Mercedes-AMG Formula One Team