INEOS reportedly set to buy into Mercedes team!
Mercedes sponsor and UK petrochemical giant INEOS is rumored to be negotiating a share interest in the world championship winning outfit.
The hearsay was put in the public domain by Eddie Jordan in an interview published by the Mail on Sunday, although the former F1 team owner contends that INEOS – spearheaded by Sir Jim Ratcliffe, the UK’s richest man – is set to fully takeover the Mercedes F1 team for a cool £700 million!
“The ownership of the team is going to be taken over by Sir Jim Ratcliffe and INEOS,” Jordan claimed.
“The Ineos name is already on the side of the car anyway and they have this technological partnership, so this is a nice way out for Mercedes.
“The team will be called INEOS but it will still be run from the factory in Brackley and Mercedes will retain a 30 per cent share in it.
“It will not be known as Mercedes any more and Toto Wolff, the team principal, will no longer be in charge.”
Wolff admits Mercedes team boss role is ‘taking its toll’
The Brackley squad is current owned by Mercedes who holds a 60% interest, team boss Toto Wolff who owns 30% of the team’s outstanding shares, and the estate of the late Niki Lauda which owns the remaining 10%.
A full retreat of Mercedes from F1 appears unlikely based on the German manufacturer’s commitment to the sport as expressed recently by chief executive Ola Källenius.
However, INEOS could possibly acquire an interest in the team by purchasing the Lauda family’s holding, but a number of combinations are obviously possible depending on who is willing to sell and how much.
Ownership of the Brackley team in part or in full by INEOS would make for an interesting dynamic regarding Lewis Hamilton.
The petrochemical company isn’t exactly perceived in the UK as a leading environment advocate, having been embroiled recently in compliance issues with EU pollution rules.
Given Hamilton’s environmental activism, it’s hard to imagine the F1 star remaining with the Mercedes team if INEOS did indeed take over the Black Arrow squad.
Let’s also remember that Eddie Jordan has been known to be wrong more often than right when it comes to outlandish speculation in F1.
Gallery: The beautiful wives and girlfriends of F1 drivers
Keep up to date with all the F1 news via Facebook and Twitter
Click Here: camisetas de futbol baratas