Rumors of a rift between Mercedes and co-owner and sponsor Ineos have surfaced, casting a shadow over their partnership.
While Mercedes has denied claims of internal discord, details emerging from various reports suggest a behind-the-scenes struggle that nearly led to a complete buyout of Ineos’ stake.
Adding fuel to the speculation is Ineos’ significantly reduced branding on Mercedes 2025 car whose livery was showcased at Formula 1’s season launch event that took place in London on Tuesday evening.
The Origins of the Rift
According to a report by The Telegraph, tensions arose between Mercedes and Ineos over the terms of their sponsorship deal.
Ineos, which originally signed a five-year agreement that would have expired at the end of 2024, reportedly came close to exiting its partnership with the team.
The report claims that Mercedes even “sourced financing” to buy out Ineos founder and CEO Jim Ratcliffe’s 33% stake in the team during the disagreement.
However, Ratcliffe reportedly had a “change of heart” and recommitted to the partnership, avoiding what could have been a significant upheaval in Mercedes’ ownership structure.
Currently, the Mercedes F1 team is equally split between Daimler, team principal Toto Wolff, and Ineos, with each owning one-third.
Mercedes Denies Allegations but Admits Reduced Branding
A spokesperson for Mercedes quickly moved to deny The Telegraph’s claims, labeling the information as false and affirming that Ineos’ shareholding is “not in question.”
The spokesperson added that Ineos’ sponsorship is “ongoing and stable.”
However, the same spokesperson acknowledged that Ineos branding on the 2025 W16 challenger is less prominent compared to previous years.
The chemical giant’s logos, which previously adorned the airbox area and rear wing of Mercedes cars, are now relegated to a less visible location: the inside of the front wing endplates, a rather obscure piece of real estate.
The spokesperson clarified that the reduced branding reflects a strategic move to create “further commercial opportunities” for new sponsors rather than a sign of a fracture in the partnership.
But the strongest denial of any rumors of a split between Mercedes and Ineos came from team boss Toto Wolff himself.
"Jim Ratcliffe is one of us three amigos - Mercedes, Jim and I," the Austrian told Sky Sports News at the F1 75 season launch event in London on Tuesday.
"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."
The Bigger Picture: Ineos Under Scrutiny
This isn’t the first time Ineos, or Jim Ratcliffe himself, has been in the spotlight for business disputes. Ratcliffe, who is also pursuing ownership of Manchester United, has made headlines for significant cutbacks in various sporting ventures.
Additionally, legal battles have emerged in other areas of Ineos’ sponsorship portfolio. New Zealand Rugby has reportedly taken legal action against Ineos, accusing the company of failing to pay an installment of its 2025 sponsorship fee.
Similarly, Ineos is embroiled in a dispute with Sir Ben Ainslie’s America’s Cup sailing team following a contentious split.
These developments inevitably raise questions about Ratcliffe’s long-term commitment to his various high-profile investments, except perhaps to Formula 1.
But in a sport where every detail matters, the spotlight will remain firmly on Mercedes, both on and off the track.
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