Wolff denies Mercedes to lose 30 percent owner

Feb.25 (GMM) Toto Wolff has added his own denial to reports the Mercedes F1 team is losing the backing of major chemicals sponsor Ineos.

In 2024, the press release heralding the launch of the last Mercedes Lewis Hamilton would race mentioned billionaire Sir Jim Ratcliffe’s Ineos brand twice.

“The livery,” read the 2024 statement, “truly reflects who we are as a team with the distinctive colours of Ineos and Petronas providing important highlights.

“The distinguished Ineos ‘Toto Rosso’ red features predominantly on the rear-wing and roll hoop in a nod to Ineos Sport, with Petronas green providing a dynamic flow across the car,” it added.

However, when Mercedes’ 2025 livery and car were launched over the past few days, the prominent red branding is now gone – with any mention of Ineos at all hard to find on the new machine.

Just prior to the launch, the Telegraph newspaper suggested Ratcliffe and Wolff have been at odds over the winter, even though Ratcliffe remains a 30 percent team owner for now.

Wolff, also with 30 percent, denies he and Mercedes have been working behind the scenes to secure financing to buy Ratcliffe out amid reported debt problems for Ineos.

“Never a consideration,” the Austrian insists.

“Jim Ratcliffe is one of the three amigos – Mercedes, Jim and I. We are never going to part ways. He’s been a great sponsor.

“We have had projects together. Nothing you read in the news will change anything,” Wolff added.

When asked for an official comment, a Mercedes spokesman said: “There have been no discussions at any point of a shareholder change and sponsorship with Ineos is ongoing and stable.”

Sportico’s November 2024 rankings estimated the value of Mercedes’ F1 team at almost $4 billion, valuing Ratcliffe’s stake at well over $1bn.