Mercedes will not replace long-term title sponsor Petronas with Saudi Arabian oil company Saudi Aramco at the end of the Formula 1 season, GPFans understands.
In December last year, INEOS, under the leadership of Sir Jim Ratcliffe, increased its stake in the Mercedes F1 team to position itself as an equal partner alongside Daimler and team principal Toto Wolff.
As part of a $2bn investment with Aramco and France's Total in 2019, three plants are currently under construction in Saudia Arabia with the INEOS 425,000 tonne acrylonitrile plant expected to be completed in 2025.
Given the connections between INEOS and Aramco, reports have emerged that Mercedes is set to part company with Malaysian oil and gas company Petronas and link up with Aramco.
Although sources failed to rule out a deal could be done with Aramco, it has been confirmed to GPFans that the Mercedes-Petronas relationship still has multiple years to run stretching well beyond 2022.
A spokesperson for Mercedes informed GPFans: “Petronas and Mercedes have been partners since 2010 in a collaborative long-term relationship that is mutually beneficial to both parties.
"Last year, we extended our partnership for another multi-year cycle and we are proud to continue to be working together to deliver cutting-edge performance.”
Petronas recently withdrew its title sponsorship of the Sepang Racing Team MotoGP outfit that this year has been home to retiring seven-time premier class champion Valentino Rossi.
Aramco branding has been prominent in F1 this season with the company sponsoring a number of grand prix events as well as pre-season testing.
With the Saudi Arabian Grand Prix set for its first running in December, further investment in the sport remains likely.
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