Toto Wolff has said there are no plans for Ineos to withdraw their support for the Mercedes Formula 1 team despite the British company looking to scale back on outgoings.

The Sir Jim Ratcliffe controlled chemical company is reportedly making cutbacks in its sporting portfolio following costly court cases.

Ineos set to stay says Mercedes boss Toto Wolff

Ineos has long been a major player in the sporting world, owning or sponsoring ventures in the likes of football, sailing and rugby, but there are reports that the British company is scaling back on some of its outgoings.

This comes following the news that New Zealand Rugby is suing Ineos for alleged breach of contract, claiming they walked away from a six-year deal three years early.

Sailor Ben Ainslie is also reportedly mulling over taking Ineos to court following his departure from the America’s Cup team.

These potentially costly outgoings, along with a $1.6 billion purchase for a portion of Manchester United, has Ratcliffe looking to cut costs, notably with the football club but also by ending its sponsorship of Tottenham Hotspur.

However, any penny-saving measures will not be applied to Mercedes it seems with co-owner Toto Wolff saying his business partner was there to stay.

“[It was] never a consideration,” Wolff told Sky Sports News at the F1 75 season launch event at The O2 Arena in London on Tuesday.

“Jim Ratcliffe is one of us three amigos – Mercedes, Jim and I. We are never going to part ways. He’s been a great sponsor. We have had projects together. Nothing you read in the news will change anything.”

Ratcliffe and Wolff both own a third of the Silver Arrows team with Mercedes/Daimler owning the remaining shares.

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Ineos’ sporting ventures have been put under increasing scrutiny following some high profile failures. Manchester United are currently 15th in the Premier League while Ainslie’s departure from the team leaves question marks over the team’s America’s Cup chances.

In cycling, Ineos Grenadiers has failed to capitalise on the success of the Team Sky outfit they purchased.

Meanwhile in Formula 1, they became co-owners of Mercedes in December 2020 but the Silver Arrows have won just one title since then, the 2021 Constructors’ crown.

The branding of the Ineos logo was also noticeably scaled down on the W16 but the team insist that does not signal any break up of the relationship.

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