US racing mogul Roger Penske has denied that he is interested in buying the Mercedes-AMG Petronas Formula One team, quashing rumours that surfaced at the weekend.

Penske, a former racing driver who owns the IndyCar series and the Indianapolis Motor Speedway, dismissed a speculative German report claiming he was one of two possible buyers of the championship-winning team if Daimler decides to quit F1 — the other being Russian billionaire Dmitry Mazepin, whose son Nikita has been carrying out a private test programme with Mercedes...

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