Mercedes schedules press conference to explain F1 future

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Mercedes-Benz has scheduled a press conference today to reveal the company's plans for the future of Formula One. It is believed that Dr. Dieter Zetsche, head of Mercedes-Benz Cars, and Norbert Haug, Mercedes-Benz head of motorsport, will announce that the company is buying into the Brawn GP team.

Mercedes would also confirm that it will remain McLaren's engine supplier for the long term.

More news will follow later today.