Mercedes parent company refutes ‘unfounded’ speculation over its Formula 1 future

Ross Houston
June 3, 2020

It was reported Wolff, who owns 30 per cent of of Mercedes' F1 team, would partner with Lawrence Stroll to purchase more shares from Daimler, who own 70 per cent.

According to several rumours, Toto Wolff would leave after the 2020 season as team boss at Mercedes, but this reporting is certainly disproved by Daimler.

Additional speculation regarding Wolff also stated the Austrian would give up his operational role within Mercedes and switch to a position on the supervisory board. Options might consist of proceeding running the group like now, taking an extra elderly setting as well as handing over to somebody else, or starting a shift stage to discover a substitute.

However: "Speculation regarding a potential withdrawal from Formula 1 continues to be unfounded and irresponsible", Daimler said in a statement to the media. The sport has taken the right measures to address the consequences of the Covid-19 pandemic and its future financial sustainability, and we welcome these steps. As the parent company of Mercedes, that organisation has a lot of influence on the Formula 1 team and it has therefore been decided that the collaboration with Wolff will be continued as the top man. Moves to settle the strategy are not anticipated to be arranged up until after the coronavirus pandemic has passed.

One possibility is for Wolff to remain as team principal but step back from such an intense schedule by not attending all races. His on-the-ground duties were taken over by technical director James Allison.

Following information of a personal financial investment he made in the Aston Martin roadway cars and truck firm last month, Wolff anxious he continued to be dedicated to Mercedes' F1 job which "nothing will change in the short-term".

Mercedes have won the last six successive drivers and constructors' titles, with Britain's Lewis Hamilton chasing a record-equalling seventh this year.

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