Jul.16 (GMM) Mercedes has hit back at rumours the German carmaker might pull out of formula one in the coming years.
Recently, team boss Toto Wolff slammed F1 pundit Eddie Jordan for suggesting Mercedes might quit as the major sponsorships of Petronas and UBS run out late next year.
But at Silverstone, Mercedes revealed that its title sponsor Petronas – the Malaysian oil company – is in fact staying on board beyond the end of 2018.
Mercedes said the “multi-year extension of the title partnership will cement more than a decade of partnership between Mercedes and Petronas”.
“We intend to stay the course,” said Petronas president Datuk Wan Zulkiflee Wan Ariffin.
“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.”
Mercedes added: “Although this (2017) may be our sport’s final visit to Sepang for the foreseeable future, Petronas is committed to formula one and to Mercedes for the long term.”