Revenues at racing team jump 24% amid sponsorship boost and America’s Cup spin-offs

The Formula One tycoon Toto Wolff and the petrochemicals empire of billionaire Sir Jim Ratcliffe have taken a share of a £75m dividend from the Mercedes racing team behind Lewis Hamilton.

Mercedes-Benz Grand Prix recorded a jump in revenues in 2022 aided by a bump in sponsorship and its work on the America’s Cup sailing championship, despite a disappointing season on the F1 track.