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Ineos could move from team sponsor to team owner with the Daily Mail reporting that the company is ‘close to signing a £700million deal’ to buy the Mercedes F1 team. Earlier this year Ineos, one of the world’s largest chemical producers, teamed up with Mercedes in a five-year contract. At the time Ineos owner Jim Ratcliffe and Mercedes motorsport boss Toto Wolff called the deal a “partnership”, not a sponsorship, and one that was worth £100m to the Formula 1 team. However, it now looks as if all that could develop ownership. According to the Daily Mail, Ineos has agreed to buy ’70 per […]