Henkel dispute not disturbing Mercedes team plans

(GMM) A motor sport spokesman for Mercedes has denied suggestions the sponsorship dispute with Henkel could affect the team's plans for 2010.

It emerged earlier this week that a three-year 90 million euro contract with the Dusseldorf-based backer will not go ahead because it was negotiated by an alleged fraudster.

The situation comes in the middle of negotiations with Michael Schumacher, with reports suggesting the German is poised to sign a multi-million euro deal.

"The immediate loss of the sponsor funds does not impair the objectives and the plans of the team," Mercedes spokesman Wolfgang Schattling is quoted as saying by the German-language Express.

He added that Mercedes is seeking an "agreement" to settle the Henkel dispute — presumably a monetary settlement.