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AP National Business

F1 team Mercedes suspends sponsorship deal with FTX

KTVZ
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Published 9:49 AM

By MAURICIO SAVARESE
AP Sports Writer

SAO PAULO (AP) — Formula One team Mercedes says it has suspended its sponsorship deal with FTX, one of the world’s largest crypto exchanges. FTX said earlier Friday that it is filing for bankruptcy. Mercedes signed a multi-year sponsorship deal with FTX in September 2021. At the time, the team was the reigning champions among F1′s constructors. Mercedes cars did not have the FTX logo during free practice on Friday for this weekend’s Brazilian Grand Prix at Interlagos.

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