Big Boost for Mercedes F1 as New Sponsor Joins in With £20 Million Sponsorship
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According to the latest reports, British chemicals company INEOS will sponsor Mercedes F1 from 2020. Mercedes had announced a partnership with INEOS sailing and cycling teams in December last year.
INEOS to sponsor Mercedes F1
The current deal is said to be worth 20 million pounds and will see INEOS featured on Mercedes’ merchandise in F1. This will also include the 2020 car and team uniform.
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INEOS is a British Multinational chemical company based out of the UK and owned by Sir Jim Ratcliffe. Apart from F1, the company also has major investments in other sporting events. INEOS currently owns 2 football clubs and a cycling team (branded Team INEOS).
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It won’t come as a big surprise-should the deal be worth more. Mercedes are currently a hot commodity in Formula one- having dominated the sport for the last 5 years. This gives the team a very valuable bargaining chip in all negotiations with potential sponsors.
Following the partnership between INEOS and Mercedes in December, both parties had the following to say.
“Tapping into the unrivalled expertise and success of the Mercedes Formula One team to support our sporting ambitions across sailing and cycling is an exciting proposition for us,” said Ratcliffe, speaking to Mercedes.
Team Principal Toto Wolff said: “When Sir Jim Ratcliffe approached us with the concept of bringing together the three organisations, all with proven track records of excellence and high ambitions for the future, we immediately saw the opportunity to grow and diversify our business – and to learn from some of the most successful teams in world sport,”
Mercedes hoping to pick up from 2019
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Ever since Mercedes returned to F1, Petronas has been the title sponsor for the team. In 2016 a new deal was signed and the value is estimated to be 50 million pounds annually. The Malaysian oil and gas company will continue to sponsor Mercedes heading into 2020.
Mercedes are the most successful team in the turbo-hybrid era. The Brackley outfit has won every single championship in F1 since 2014. Furthermore, Mercedes recently wrapped up a sixth consecutive Drivers’ and Constructors’ championship.
Such is the domination, that Mercedes have won close to 74% of all F1 races held since 2014. The team is gunning for a seventh consecutive championship in 2020.
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Mercedes will unveil its 2020 car at Silverstone on February 14. Lewis Hamilton’s love affair with the Silver Arrow will continue another year. However, the brit will be out of contract at the end of 2020. News from the rumor mill suggests a contract extension is on the cards.
Winter testing begins on February 19, 2020.
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