Mercedes AMG Petronas Formula One Team have ended speculation over their future in Formula 1 by revealing it signed a new long term contract with main title sponsor Petronas.
Rumours surrounding the future of Mercedes in F1 have occurred in recent weeks, with Channel 4 Pundit Eddie Jordan stating the German Manufacture will leave the sport at the end of next year when their sponsorship deal with Petronas and UBS supposedly come to an end.
Mercedes publicly denied the rumour over an early exit, calling it ‘fake news’, however they confirmed today that they have intentions to stay on with the Malaysian oil company and Mercedes having already agreed a long term deal that is set to run for at least another three years.
Petronas CEO Datuk Wan Zulkiflee Wan Ariffin told Motorsport.com that despite the end of the Malaysian Grand Prix this year, their future with Mercedes will not be impacted.
“Our involvement in motorsports actually began in 1995, which is a few years before the first race in Sepang in 1999 and we intend to stay the course.
“The partnership has given us very positive results for many years and I am pleased to announce the extension of the sponsorship contract with the team.”
Eddie Jordan’s rumours angered Mercedes AMG Petronas boss Toto Wolff saying that it was unfair to spread speculation about the future of a team that employs so many people.
“I told him I’m ready for any banter with Eddie, but for me I stop laughing when it’s about making jokes on the back of 1500 employees that care about their future.
“And I said it in an interview with him, that this is a too serious a topic for me. We are not leaving F1, none of our sponsors is leaving F1, we are pretty happy where we are. He should just stop putting these rumours – fake news – out in the world.”