Mercedes not quitting yet
Spokesman says discussions are on-going with commercial rights holder
By William Esler. Last Updated: 07/05/12 5:24pm
Mercedes have distanced themselves from reports speculating they are set to leave Formula 1.
The Times reported on Monday that Mercedes were "on the verge of quitting Formula One" over a dispute about the composition of a potential board when F1 is floated on the Stock Exchange.
Ferrari, McLaren and Red Bull will all have representatives on the new board of directors, leaving Mercedes isolated as the only top team without a seat.
However, Mercedes have poured cold water on the reports, insisting they were still in discussions with the sport's commercial rights holder, CVC Capital Partners.
A spokesman told Sky Sports: "We are in discussions with the commercial rights holder and we would like to ask for your understanding that we are not currently commenting on these discussions."