Mercedes-AMG Petronas Formula One Team has announced a new principal partnership with INEOS, a leading manufacturer of chemical and oil products. The partnership will see INEOS become a one-third shareholder in the team, alongside current owners Daimler AG and Toto Wolff.

This new partnership comes as Mercedes-AMG Petronas looks to continue its dominance in Formula One, having won the drivers’ and constructors’ championships for the past seven years. INEOS, known for its investments in sports teams such as the cycling team INEOS Grenadiers and football team FC Lausanne-Sport, will bring its expertise and resources to support Mercedes-AMG Petronas in their quest for further success.

Toto Wolff, Team Principal and CEO of Mercedes-AMG Petronas Formula One Team, expressed his excitement about the new partnership, stating that “INEOS’ principal partnership is a sign of their commitment to the team and the sport. We are all looking forward to working together to achieve our mutual goals.”

INEOS Founder and Chairman, Sir Jim Ratcliffe, also shared his enthusiasm about the partnership, saying “Mercedes has been the dominant force in Formula One for the past few years, and we are excited to be partnering with them to help take the team to even greater heights. This is a unique opportunity for INEOS to show its support for a world-class team and participate in the excitement of Formula One.”

With the backing of INEOS, Mercedes-AMG Petronas Formula One Team is well-positioned to continue their success in the sport and maintain their status as one of the leading teams in Formula One. The partnership between Mercedes-AMG Petronas and INEOS is set to begin in the 2021 Formula One season, and fans of the sport can look forward to seeing how this new collaboration will impact the team’s performance on the track.