At the Mercedes livery launch event in London, the defending constructors’ champions announced a new, five-year sponsorship deal with Ineos.
The Swiss-based British entity is one of the largest chemicals’ companies in the world, with 22,000 people employed by the company and turning over NZD$89 billion a year. Founder Sir Jim Ratcliffe is also one of the wealthiest people in the UK, with a net worth of NZD$36.7 billion, as of 2019.
Ineos will join the team as a ‘principal partner’, although this would not be the first time the two entities have collaborated. Through Mercedes-Benz Applied Science, Mercedes have assisted Ineos in their sailing and cycling projects, as well as the development of Ineos Team UK’s RB2 race boat for the upcoming America’s Cup held in Auckland.
Mercedes team principal Toto Wolff said of the new INEOS partnership “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.”
Other sporting investments from the Ineos group include the Team Ineos cycling team that competes at a UCI WorldTeam level, as well as soccer teams FC Lausanne-Sport and OGC Nice, based in Switzerland and France respectively.