The Mercedes-AMG Petronas Formula One Team has announced a new five year partnership with INEOS, making the manufacture a principal partner of the F1 side. 

In a statement released by Mercedes, the company stated that the new deal sees INEOS ‘increase its position in sport’. The principal partnership is an extension to the performance partnership signed at the end of 2019 between INEOS and Mercedes-Benz Applied Science (MBAS).

Sir Jim Ratcliffe, Founder and Chairman of INEOS commented: “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.

“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.”

The deal, which means the INEOS’ logo will be featured heavily on the Mercedes-AMG Petronas F1 car this season, seemingly invalidates any reports that the firm is looking to leave F1 after being associated with the competition since 1954. 

Toto Wolff, team principal and CEO of the Mercedes F1 emphasised his team’s desire to stay in the competition: “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. 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.”

INEOS’ brand continues to develop throughout the sporting world. Including its new Mercedes partnership, the chemicals company sponsors OGC Nice and Swiss Challenge League side Lausanne-Sport along with owning its own cycling team, Team INEOS.