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Brazilian Grand Prix 2022

Key Mercedes F1 sponsor files for bankruptcy

One of the Mercedes Formula 1 team's major sponsors has filed for bankruptcy after a tumultuous week.

XPB 1182941 Hi Res
To news overview © XPBimages

A key sponsor of the Mercedes Formula 1 team, FTX, has filed for bankruptcy, hours after the team suspended its deal with the cryptocurrency business.

FTX is facing an investigation by American authorities after allegedly misusing customer deposits.

The firm was plunged into crisis over the past week with a proposed to deal to be rescued by Binance, who sponsor Alpine, falling through.

The cryptocurrency exchange company has prominent branding on the Mercedes W13 and driver race suits, but the eight-time Constructors' Champions have removed all FTX logos ahead of the Brazilian Grand Prix weekend.

The absence of the logo on the rear wing can be seen in the image above, with Mercedes making the decision prior to any running.

It is not just in F1 that FTX has a presence, with a lucrative deal in place with Miami Heat of the NBA for naming rights to their home stadium, as well as enjoying one with the Major Baseball League.

			© RN365/Michael Potts
	© RN365/Michael Potts

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F1 2022 Brazilian Grand Prix RN365 News dossier


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