Mercedes is engaged in a stand-off with Formula 1 over signing t💝he new Concorde Agreement before the deadline of 12 Auꦜgust.

ಌSpeaking at the 7🦂0th Anniversary Grand Prix at Silverstone, Mercedes F1 team boss Toto Wolff stressed the German manufacturer feels mistreated and is “the biggest victim” in the new financial arrangements which have been proposed.

Mercedes is committed to F1 and wants to continue beyo🌌nd the end of the 2020 season, but is not willing to sig🧸n the current terms outlined in the Concorde Agreement despite the deadline looming ahead of next week’s Spanish Grand Prix.

F1 is in discussions with all 10 teams over a fresh agreement, which feature🐲s a new financial structure and significant redistribution of income between the teams, with Ferrari’s historical importance understood to b📖e acknowledged in the terms.

Wolff is unhappy the same approach has not been applied to Mercedes despite the reigning six-times world champion outfit’s contribu🌸tion to the sport.

"We from Mercedes, we made very clear that we are happy with a more equitable split of the prize fund," Wolff said. "The way success is rewarded and poss🌟ible for everybody, we agree to.

"We are, I would say, the biggest victim in terms of prize fund loss in all of that. Ferrari has maintained an advantageous position. With Red Bull, it obviously balances out with🔥 AlphaTauri. So it's us that are hurt the most.

"I feel that Mercedes has contributed🃏 to the sport over the last years. We have apart from being competitive on-track, we have the driver that has clearly the most global appeal.

"We feel that whilst being⛎ in those negotiat𒁏ions, we weren't treated in the way we should have been. Therefore there is a bunch of open topics for us that are legal, commercial, and sporting.

"In our point of vie💝w, I don't feel ready to sign a Concorde Agre൩ement.”

Mercedes is F1’s most successful team and on couไrse to claim an unprecedented seventh straight world championship double this year, while it is poised to supply engines to McLaren🍬, Racing Point and Williams next year.

𓄧On Thursday, Mercedes announced it had renewed Valtteri Bottas𒉰' deal for 2021, while Lewis Hamilton is widely expected to agree to a contract extension. 

F1 responded to Wolff’s comments by issuing♉ a statement that made it clear it is not prepared to delay the agreement further.

"F1 has engaged with all teams in a collaborative and constructive way and listene♉d to all their views,” the statement read.

"This agreement is important for the future of the sport and all ou🐼r fans. We are moving forward with this and will not be delayed any longer.”

Three weeks ago at t♈he Hungarian Grand Prix, Wolff expressed frustration with how rival teams had been commenting publicly about the ongoing Concorde Agreement negotiations.