'Mercedes shareholder Ineos was close to breaking up with the team'

Keen-eyed fans may have spotted the change—after years of Ineos branding on the airbox, the new Mercedes F1 car now features a grey space in its place. Petronas has taken over the rear wing branding, while Ineos, despite being a one-third owner of the team, is now only visible on the inside of the front wing endplates.

According to the British newspaper The Telegraph, this is for a reason. Jim Ratcliffe (owner of Ineos) and the F1 team were reportedly on the verge of breaking up. The newspaper reports that funding was even sought to buy out Ratcliffe, but the billionaire eventually changed his mind.

A Mercedes F1 spokesperson assured that Ineos' sponsorship remains "ongoing and stable" and that its stake in the team is not in question. However, they acknowledged that the Ineos branding would be less prominent on the cars of Andrea Kimi Antonelli and George Russell—a change that was confirmed during Tuesday night’s unveiling.

Ineos' sports division is under increasing pressure after two major credit rating agencies raised concerns about the company. The firm recently ended its sponsorship of a sailing team and also terminated its partnership with New Zealand’s rugby team—both decisions resulting in lawsuits.