Is The Mercedes-AMG F1 Team Looking For A New Owner?

The Mercedes-AMG F1 Petronas team is thought to be eyeing a new owner before the sport’s current ‘Concorde Agreement’ expires at the end of 2020.

In a sensational report, F1 Insider claims to have received word from a “reliable source” that the team is looking for a new owner in a move that would allow it to exit the daily operations of running the team but remain a constructor and engine supplier in F1. Carscoops has reached out to Mercedes-Benz for clarification and are waiting their response.

According to the report, there are a handful of potential suitors for the team. These include Russia’s wealthy Mazepin family from the chemical sector, whose Nikita Mazepin currently competing in the Formula 2 championship. Another potential buyer is thought to be billionaire Roger Penske, who recently purchased the rights to the Indy Car series and the Indianapolis circuit. Penske also runs a host of racing teams in various championships around the world.

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As mentioned, this report remains unsubstantiated and we recommend taking it with a grain of salt until we receive confirmation from Mercedes-Benz itself.

Nevertheless, the potential sale of the Mercedes-AMG F1 Petronas team would come at an interesting time with the sport readying a series of overhauls for the 2021 season that promise to improve on-track racing while having the potential to upset the company’s supremacy in the sport.

Late last month it was revealed that from 2021, spending restrictions will be enforced at a maximum of $175 million per year per team.