Mercedes has hinted the works team will continue in Formula 1 post-2020 by announcing a new "multi-year" deal with computing company AMD.

Currently, the German manufacturer, along with every other team for that matter, has not signed up to the new Concorde Agreement set to come into effect from 2021.

But what has increased focus on Mercedes' future is the fact that both drivers, Lewis Hamilton and Valtteri Bottas are out of contract after 2020, Max Verstappen, who was tipped to join the team next season, quickly signed a new three-year deal at Red Bull and RaceFans reported a meeting of the board is set for February 12 to discuss their F1 plans.

Since then, however, Ola Kaellenius, CEO of Mercedes' parent company Daimler, has denied any suggestion of the works team being dropped and now this AMD announcement is another indication that the Silver Arrows are set to remain.

This new partnership follows another sponsorship deal with chemicals group INEOS, who operate Team INEOS, a seven-time Tour de France-winning cycling team, and INEOS Team UK, a sailing squad aiming to win the America's Cup.

The group will reportedly work with Mercedes' Applied Science arms in a deal worth a hefty £20m for this year.