Published: Thu, February 13, 2020
Sport | By Kayla Schwartz

'We are in this for the long-term' - Wolff on Mercedes’ F1 future

'We are in this for the long-term' - Wolff on Mercedes’ F1 future

"The company's ambition, dynamism and entrepreneurial flair are a flawless fit for the spirit of Mercedes-AMG Petronas".

In December, Ineos and Mercedes signed a technical agreement.

Mercedes already had a "performance partnership" with the company, working with the Team Ineos cycling outfit and Olympic yachtsman Ben Ainslie's INEOS TEAM UK in a challenge for sailing's America's Cup in 2021. As Team Sky, the road cycling team won five Tour de France titles.

Tour de France victor Egan Bernal (C) of Colombia wears the yellow jersey as he celebrates with his Ineos teammates after their race in Paris, France, July 28, 2019.

The deal also further strengthens Ineos' presence in sport.

It also sponsored the nation's sailing team, Ineos Team UK, to compete in the oldest global sailing event, America's Cup.

Petronas still holds the prominent spot on front of the back wing, but now Ineos will also be printed on the back as well as holding a spot inside the front wing. "Their grit and determination to redefine what is possible makes them a natural fit for Ineos", he added.

"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".

"Both companies share a restless desire to improve every day and a strong commitment to achieving the very best results".

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The significant Formula 1 guidelines spruce up coming for following year implies teams require to handle the advancement of their 2020 automobiles along with extensive deal with their future opposition. "It once again serves to demonstrate the attraction of the sport for ambitious, global brands with a long-term vision for success".

"We had full grandstands past year, it was sold out".

Mercedes has dominated F1 over the past six years, winning an unprecedented six drivers' and constructors' championship doubles.

Verstappen will be hoping to lay down a marker to his rivals when the 2020 F1 season starts in Australia next month.

Mercedes' parent Daimler said in November it would cut at least 10,000 jobs and reduce staff costs by around $1.5 billion by the end of 2022, but Wolff said Formula One worked for the carmaker.

"We love it and it shows the strength of the brand and the appeal of Formula One", he said.

"We like the platform but at the same time we are in negotiations with the rights-holders and things need to be sorted out".

"But the partnership is something that clearly indicates our wish to continue our successful journey in Formula One".

"We see the data. participating in Formula One is one of the greatest returns on investment in the whole Daimler Group", he said.

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