The partnership will help develop "engineering, human science, simulation and data analysis".

Ineos - owned by Britain's richest man Sir Jim Ratcliffe - began sponsoring Team Sky cycling in March 2019.

"The technical demands of F1 mean we're well-placed to support in sailing and cycling," said Mercedes' Toto Wolff.

F1 world champions Mercedes, with Lewis Hamilton as lead driver, will work alongside Team Ineos' successful Tour de France team and their sailing division, who aspire to win the America's Cup.

Mercedes boss Wolff added: "When Sir Jim Ratcliffe approached us with the concept of bringing together the three organisations, all with proven track records of excellence and high ambitions for the future, we immediately saw the opportunity to grow and diversify our business - and to learn from some of the most successful teams in world sport."

"We are very excited about this agreement's potential in the months and years ahead."

As well as founding chemical company Ineos, Ratcliffe owns French football club Nice.