Feb.3 (GMM) On the eve of the 2020 season, six-time consecutive world champion Mercedes has reportedly secured a $26m per year sponsorship deal.

At Christmas, the German team announced a new “performance partnership” with the Ineos-branded Tour de France and America’s Cup teams.

Now, the Financial Times reports that Ineos, a major British chemicals company run by billionaire Jim Ratcliffe, has agreed a $26m per year F1 sponsorship deal.

Citing sources, the report said it will be announced “within weeks”. Mercedes and Ineos would not comment.