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Mercedes F1 team signal future intent with Ineos deal source: https://www.channelnewsasia.com/news/sport/mercedes-f1-team-signal-future-intent-with-ineos-deal-12418364 Formula One champions Mercedes sent a statement of intent about their future on Monday with the announcement of a five-year principal sponsorship deal with British billionaire Jim Ratcliffe's petrochemicals giant Ineos. LONDON: Formula One champions Mercedes sent a statement of intent about their future on Monday with the announcement of a five-year principal sponsorship deal with British billionaire Jim Ratcliffe's petrochemicals giant Ineos. Mercedes F1 boss Toto Wolff hailed a new chapter for a team who have won the last six drivers' and manufacturers' titles with Lewis Hamilton chasing his seventh career crown this season. Formula One is entering a new era in 2021 and the teams, including Mercedes, have yet to sign a new agreement with U.S.-based commercial rights holders Liberty Media beyond this year, with some evident sticking points. Despite that, Wolff - a shareholder in the team - sounded optimistic. "We are in this for the long term," Wolff told reporters at a news conference at London's Royal Automobile Club. "We like the platform but at the same time we are in negotiations with the rights holders and things need to be sorted out. "But the partnership is clearly something that indicates our wish to continue our successful journey in Formula One," added the Austrian. Mercedes' parent Daimler said in November it would cut at least 10,000 jobs and reduce staff costs by around 1.4 billion euros (1.16 billion pounds) by the end of 2022, but Wolff said Formula One worked for the carmaker. Ridiculing recent media reports that Mercedes were considering pulling out of the sport, he envisaged instead a time when Formula One actually made a profit for the carmaker. "We see the data... participating in Formula One is one of the greatest returns on investment in the whole Daimler Group," he said. "This is an exercise that costs little in comparison to the billions of marketing value that are being generated," he added, pointing to data that showed the average Mercedes customer was getting younger. "We want to make it (competing in F1) a no-brainer from the sheer numbers... that the Formula One activity will be something that will be a profitable exercise, like it should be." Wolff pointed to successful franchises in U.S. sports such as the NFL and NBA as the business model the sport should aspire to emulate. "This is my personal aim and contribution with our partners to turn this into such a company so that from a Mercedes standpoint it becomes a no-brainer to participate," he said. Hamilton is out of contract at the end of this year but Wolff made clear his desire that the 35-year-old Briton should remain with the team, saying they were the 'obvious pairing going forward'. "We would like to have the fastest man in the car and I know Lewis wants to be in the fastest car, so there is an obvious mutual outcome" he said. The Ineos principal partnership is one rung below title sponsorship, with Petronas filling that role at Mercedes, and represents the latest sporting investment by a company already involved in running, sailing, cycling and soccer. Mercedes already had a 'performance partnership' with the company, working with the Team Ineos cycling outfit and Olympic yachtsman Ben Ainslie’s INEOS TEAM UK in a challenge for sailing’s America’s Cup in 2021.

The 2012 Malaysian Formula 1 Grand Prix was again an event full of unpredictability mainly due to the weather. I was glad that I decided to stay home and catch it on telly again as it rained, the race was red flagged after some laps before continuing again some time later. It was so unpredictable that Fernando Alonso driving the Ferrari came in first behind Mexican Sergio Perez of Sauber and Lewis Hamilton in the McLaren Mercedes. Sergio who? Exactly. The rain cause a great many upsets until we got to see the first Mexican in over 40 years to step up on a Formula 1 winner's podium. And then we got to see grown men from Ferrari and Sauber shed tears of joy. Team Ferrari was most pleased that they've managed to secure a win after a very tough and dry 2011 season. Whilst for Sauber, it has managed to score some points and a podium finish after a great deal of years finishing at the rear. This is also the first podium finish for Sauber as an independent team instead of branded as BMW Sauber or Sauber Petronas in recent years. Watching Peter Sauber cry is almost like watching a happily-ever-after fairytale ending. Of course it isn't. The F1 calendar for 2012 has just got into full stride. This is only the second race this season but the first proper race held at a track. Melbourne was a city track and we did not see the true potential of the cars. BUT it rained in Sepang and we still didn't manage to see the true potential of the cars. We could see however that some drivers and some cars doing well in the wet, but that's about it really. We also saw upsets. Michael Schumacher started in fourth and was tagged by turn 4 of the opening lap. It caused him a chance for a top three finish that I was also hoping for due to the rain (the chap was called 'rainmeister' if one remembers correctly). He managed to finish 10th giving him some points though. Starting high up in the grid shows us the potential of the Mercedes Petronas F1 car. It seems to me that this latest Ross Brawn designed car is up there with the rest of the leaders. Even with ol' Schumacher at the wheel. Maybe it is because he's at the wheel in a car that is set up for him that he's fast