Ineos Takes One Third Stake In Mercedes F1

INEOS will strengthen its ties to Formula 1 after becoming a shareholder in Mercedes F1.

The new structure sees the petro-chemicals company gain a one-third stake as part of a new ownership structure where Mercedes parent company Daimler, and Mercedes Motorsport boss and F1 team principal, Toto Wolff, will also have equal shares.

INEOS’s commitment to the team will be in addition to its existing role as Principal Partner, which was announced in February 2020.

The team, which has won seven consecutive double world championships since 2014, will continue to serve as the Mercedes-Benz works team, and will continue to race Mercedes chassis and power units.

“We are delighted to welcome INEOS to our Formula One joint venture as a fellow shareholder,” said Ola Källenius, Chairman of the Board of Management, Daimler AG and Mercedes-Benz AG. 

“It is a sign of the strength of the organisation in Brackley that we have been able to attract prestigious investors in INEOS, who see real potential for the future growth and development of the team. 

“We remain firmly committed to Formula 1, and the forthcoming cost cap along with the new shareholding structure put us in an even stronger position for continued success. With an even closer alignment to our Mercedes-AMG performance division beginning in 2021, and Toto’s continued leadership in the coming years, the future is bright for Mercedes-Benz in Formula One.”

Sir Jim Ratcliffe, Chairman, INEOS, added: “Big challenges are a core part of our mindset at INEOS and our involvement across a number of different sports demonstrates that we always aim for the very best. 

“When we entered Formula One earlier this year, we chose to do so with a Mercedes team that had set new benchmarks, and since then we have been in discussions about how we could increase our involvement. This is a unique opportunity to make a financial investment in a team at the very top of its game, but which still has rich potential to grow in the future. We could not wish for better partners than Mercedes-Benz, and a team of proven winners led by Toto.”

The news adds to INEOS’s sporting portfolio, which already includes the Team INEOS cycling outfit, INEOS TEAM UK – the America’s Cup sailing challenger – and Ligue 1 football team Nice.