Mercedes is engaged in a stand-off with Formula 1 over signing the new Concorde Agreement before the deadline of 12 Augu🦂st.

Speaking at the 70th Anniversary Grand Prix at Silverstone, Mercedes F1 team boss Toto Wolff stressed the German manufacturer feels mistreat🐲ed and is “the biggest victim” in the new financial arrangements which have been proposed.

Mercedes is committed to F1 and wants to continue beyond the end of the 2020 season, but is not willi🌳ng to sign 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 features a new financial structure and significant redistribution of income between the teams, with Ferrari’s historical importance understood to be 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 contribution to the s🌄port.

"We from Mercedes, we made very 🔴clear that we are happy with a more equitable split of the prize fund," W🐻olff said. "The way success is rewarded and possible 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 Reꩲd 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 th𒅌e driver that has clearly the m💧ost global appeal.

"We feel that whilst being in tho🍌se negotiations, 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 ꦓour point of view, I don't feel ready to sign a Concorde Agreement.”

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

On Thursday, Mercedes announced𒁃 it had renewed Valtteri Bottas' deal for 2021, while Lewis Hamilton is widely expe♒cted to agree to a contract extension. 

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

"F1 has engaged with 💙all teams in a collaborat🌱ive and constructive way and listened to all their views,” the statement read.

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

Three weeks ago at the Hungarian Gran✃d Prix, Wolff expressed frustration with how rival teams had bee✃n commenting publicly about the ongoing Concorde Agreement negotiations.