Mercedes: Chemical giant Ineos to become a one-third shareholder in Formula 1 team

Chemical giant Ineos is to become a one-third shareholder in the Mercedes Formula 1 team. It will have an equal shareholding with Mercedes parent company Daimler and Toto Wolff, Mercedes motorsport boss and F1 team principal. Wolff, in charge of Mercedes F1 operations since 2013, has signed a new contract and will remain team boss and chief executive for three more years. The statement added that Mercedes F1 would “remain the works team of Mercedes-Benz and will continue to race Mercedes chassis and power units in the coming years”. The Briton is expected to sign a new contract with Mercedes to keep him at the team beyond this year.

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