“Decent replacement for FTX lol” – Fans react as Mercedes F1 team partners with Einhell as the team’s official tool expert
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The Mercedes F1 team has announced Einhell as the team's official tools expert
Mercedes F1 team has announced cordless power tools and garden equipment manufacturer Einhell as the team’s “Official Tools Expert.” The partnership with the German tools giant will begin on 1st January 2023, providing the team with state-of-the-art cordless equipment back at the team’s factory in Brackley. Einhell logos will be displayed on the Mercedes F1 car as well as team uniform and driver overalls.
This partnership is considered a win-win for both the Silver Arrows and Einhell, with Team Principal Toto Wolff mentioning the gains the team will get by using the German company’s tools, he said, “we benefit from the latest technology for maximum performance.” Wolff is also the face of Einhell’s television campaign in 2023. Andreas Kroiss, CEO of Einhell Germany AG mentioned the role of the partnership in the company’s aim of expanding globally, he said, “By positioning our tools and equipment in the international Formula 1 landscape, we are pursuing our international expansion strategy,”
This announcement takes place against the backdrop of the termination of the Silver Arrow’s partnership with crypto giant FTX. FTX collapsed overnight and after a failure of getting bailed out by competitor Binance, the company was in dire straits. Mercedes was forced to remove all FTX brandings from its car before the Brazilian Grand Prix. This has rung alarm bells regarding crypto sponsorships in Formula 1, as teams consider the volatility of such firms.
F1 fans give a sigh of relief as Mercedes gets a new non-crypto sponsor
After the announcement, fans on Twitter were glad over the team’s choice of getting a non-crypto partner. One user said, “anything that’s not a crypto company,” while another fan replied, “Decent replacement for FTX lol.” Some fans were also wondering if Einhell’s innovations can be used in pitstops with cordless wheel guns, one fan tweeted, “Does that include the wheel guns? Are we ready to go cordless on that front?”
It is evident that Formula 1 fans are skeptical about crypto money in the sport, with the bankruptcy of FTX only making the case worse. Currently, most teams on the grid have a crypto firm as their partner, such as Bybit for Red Bull. This cannot be sustained in the long run, sooner or later, the companies might be forced out of business resulting in Formula 1 suffering losses. We need teams to act for their own good.
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