Mercedes has denied reports suggesting it is on the verge of losing Ineos as both a major sponsor and one-third team owner.
According to The Telegraph, Mercedes team boss Toto Wolff clashed with fellow shareholder Sir Jim Ratcliffe, the billionaire founder of Ineos, throughout 2024—reportedly coming "close to splitting" over their differences.
The speculation intensified following the unveiling of Mercedes' 2025 livery this week, which features a striking absence of Ineos branding, making it difficult to spot compared to previous seasons.
Respected F1 journalist Roger Benoit of Blick also weighed in on the situation, reporting that Ineos "is said to have a mountain of debt amounting to several billion."
Despite these reports, a Mercedes spokesperson has moved to quash any rumours of an impending split.
"Mercedes' relationship with Ineos is ongoing and stable," the team representative stated, insisting that the partnership is "not in question."
However, the visual changes to the team's branding tell a different story. The once-prominent red 'Ineos' airbox logo—still visible on Mercedes' car for Lewis Hamilton's farewell race in Abu Dhabi last year—has now been replaced with a plain grey design for the 2025 season with no branding whatsoever.
Neither Ineos nor Ratcliffe, 72, have issued a comment on the situation.
