INEOS takes over shares in Mercedes-AMG Petronas System One Team
INEOS ‘participation in a One third of the team takes place in addition to the already existing role as Major Accomplice . At the same time, Daimler will increase its shares from currently 50% reduce and Toto Wolff his participation from currently 30 Increase% to create three equal shareholders in the company.
Since the Mercedes-Benz works team in the year 2010 has returned to Formula 1, continuous strategic investments, athletic commitment and commercial growth have made the team one of the leading organizations in the team global sport made. Since 2010 the team has won seven double world championships in a row.
Since 2010 the team is in a exemplary and uninterrupted title partnership with PETRONAS and enjoys the support of a portfolio of loyal and respected Accomplice and strong commercial revenues. It also generates the highest proportion of viewers and brand presence in Formula 1.
From 2021 the business landscape of Formula 1 will be changed by new financial regulations that will enable groups to independently become financially sustainable in the coming years. The team is strengthened by the closer association with Mercedes-AMG, the high-performance brand of Mercedes-Benz, and has already started to diversify its business model with the new Applied Science business unit, which with high-performance engineering skills goes beyond innovative projects of motorsport to a breakthrough.
The team will remain the Mercedes-Benz Formula 1 works team and will continue to compete with Mercedes Chassis and Energy Devices in the coming years .
In the new shareholding structure, Toto Wolff will lead the operational business of the company and the racing team for another three years in his role as team leader and managing director. He will then have the opportunity to take on a new operational leadership role within the organization as soon as he considers the time to be right.
Ola Källenius, Chairman of the Board of Management of Daimler AG and Mercedes -Benz AG, said: “We united states of america are very pleased to welcome INEOS as a shareholder in our Formula 1 Joint Enterprise. It is a sign of the strength of the organization in Brackley that we have been able to attract reputable investors with INOES, the real ones Recognize potential for future growth in the team. We will remain firmly connected to Formula 1 and the upcoming Fee Cap will, together with the new shareholding structure, put united states of America in an even stronger way of living for sustained success. AMG from 2021 sow he continuation of Toto’s leadership in the coming years, the future looks bright for Mercedes-Benz in Formula 1. “
Sir Jim Ratcliffe, Chief Executive Officer of INEOS, said: “Big challenges are a key ingredient in our mindset at INEOS and our involvement in a number of different sports shows that we always aim for the very best. When we got into Formula 1 at the beginning of the year, we decided to work alongside the Mercedes team that set new standards in this sport. Since then we have discussed how we can get united states of american more involved. This is a unique opportunity to financially participate in a team that is at its best but still has great potential for future growth. We could not wish united states of america a better deal than Mercedes-Benz and the team of proven winners led by Toto. “
Toto Wolff, Team Principal and Managing Director, said: “I am delighted to start this new chapter for the Mercedes-AMG Petronas F1 Team. This team is like family to me. We have gone through so many ups and downs together that I cannot imagine working with better people in this sport – and I am very happy that we are entering this new era together. INEOS ‘new funding confirms that the industry case for Formula 1 groups is robust and sends an important signal of confidence in the sport after a challenging year. I am delighted to welcome Jim, Andy and John as shareholders of the group: they have built one of the most profitable companies in the world, exude a real entrepreneurial spirit and their skills will strengthen our board of directors in the years to come. At the same time, it is a privilege to continue the partnership with Ola, Markus Schäfer and Mercedes-Benz in the years to come. We are proud that we have been the brand’s prestigious motorsport custom since 2010 could add a few chapters and we share the ambition to keep the organization growing in the coming years. “
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