• Latest
  • Trending
Wolff remains as Mercedes principal for three more years

Wolff remains as Mercedes principal for three more years

December 19, 2020
Ford Legends Pavilion to headline Taupo Historic GP

Ford Legends Pavilion to headline Taupo Historic GP

January 17, 2021
Chris Vlok confirmed for full TRS campaign

Chris Vlok confirmed for full TRS campaign

January 16, 2021
Reynolds makes switch to Kelly Grove Racing for 2021 Supercars season

Reynolds makes switch to Kelly Grove Racing for 2021 Supercars season

January 16, 2021
Bamber and Dixon confirmed for Daytona 24 Hour

Bamber and Dixon confirmed for Daytona 24 Hour

January 16, 2021
Lawson to race for Hitech in Formula 2

Lawson to race for Hitech in Formula 2

January 15, 2021
Tom Alexander to make NZ GP start alongside mentor

Tom Alexander to make NZ GP start alongside mentor

January 15, 2021
Toyota unveil Le Mans Hypercar, Hartley confirmed in line-up

Toyota unveil Le Mans Hypercar, Hartley confirmed in line-up

January 15, 2021
TV3 confirm free-to-air highlights show for TRS

TV3 confirm free-to-air highlights show for TRS

January 15, 2021
Lawson set to race Ferrari in DTM

Lawson set to race Ferrari in DTM

January 15, 2021
Rare Shelby GT350R to make appearance at Historic GP

Rare Shelby GT350R to make appearance at Historic GP

January 15, 2021
Damon Leitch confirmed for NZ GP

Damon Leitch confirmed for NZ GP

January 14, 2021
Sunday, January 17, 2021
VelocityNews
Classifieds
Subscribe
No Result
View All Result
VelocityNews
No Result
View All Result

Wolff remains as Mercedes principal for three more years

by Zane Shackleton
December 19, 2020
in Formula 1, International, News
0

YOU MAY ALSO LIKE

Ford Legends Pavilion to headline Taupo Historic GP

Chris Vlok confirmed for full TRS campaign

Mercedes has reaffirmed their commitment to Formula 1 with incumbent team principal Toto Wolff staying on as the head of the outfit for the next three years.

After rumours of a potential buyout by British chemical company INEOS, last night Mercedes confirmed that the ownership of their championship-winning team would be split three ways.

Mercedes, INEOS and Wolff have now taken an equal share in the team, with Wolff bolstering his previous ownership stake and Mercedes reeling back from their former 60 per cent.

Wolff has been a central figure in the dominance of the Mercedes squad. Since taking over as the executive director of the team in 2013, he has been at the forefront of the seven successive world titles earned between 2014 and 2020.

As part of the arrangements, Wolff has committed to staying on as team principal and CEO for the next three years, with the potential to move to a different executive role after that.

“I am pleased to begin this new chapter for the Mercedes-AMG Petronas F1 Team. This team is like a family for me,” said Wolff.

“We have been through so many highs and lows together that I cannot imagine working with a better group of people in this sport – and I am very happy to continue together into this new era.

“This new investment from INEOS confirms that the business case for Formula 1 teams is robust and sends an important signal of confidence in the sport after a challenging year.”

Mercedes will also continue to race in F1 under the German car manufacturer brand for the foreseeable future.

The team were already committed to the sport until 2025 after accepting the terms of the new Concorde Agreement. However, speculation from the rumour mill over the season had suggested that Wolff and Daimler, Mercedes parent company, would sell their stakes in the team to an external buyer and the team would be re-branded.

“We remain firmly committed to Formula One, and the forthcoming cost cap along with the new shareholding structure put us in an even stronger position for continued success,” said Ola Kallenius, Mercedes chairman.

“With an even closer alignment to our Mercedes-AMG performance division beginning in 2021, and Toto’s continued leadership in the coming years, the future is bright for Mercedes-Benz in Formula 1.”

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Ford Legends Pavilion to headline Taupo Historic GP

Chris Vlok confirmed for full TRS campaign

Reynolds makes switch to Kelly Grove Racing for 2021 Supercars season

Bamber and Dixon confirmed for Daytona 24 Hour

Lawson to race for Hitech in Formula 2

Tom Alexander to make NZ GP start alongside mentor

Bringing you the latest motorsport news in New Zealand and around the world

Managing editor and publisher:
Mark Petch mark@velocitynews.co.nz

Motorsport Editor:
Matthew Hansen matt@velocitynews.co.nz

Motorsport Editor:
Alex Schultz alex@velocitynews.co.nz

Motor Racing Editor:
Zane Shackleton zane@velocitynews.co.nz

  • About
  • Advertise
  • Privacy & Policy
  • Contact Us

© 2020 VelocityNews - Independent New Zealand and International Motorsport news.

No Result
View All Result
  • News
    • International
      • Formula 1
      • Formula 2
      • Formula 3
      • Formula E
      • Esports
      • Super GT
      • Super Formula
      • TCR
      • WEC
      • GT
      • Porsche Carrera Cup
      • BTCC
      • DTM
      • IMSA
      • IndyCar
      • NASCAR
      • WRC
      • MotoGP
      • Motorcycle Racing
      • Classic
    • New Zealand
      • Toyota Race Series
      • Toyota 86
      • Rally
      • Speedway
      • Drifting
      • Formula Ford
      • Formula First
      • TCR NZ
      • BNT V8s
      • V8 Utes
      • GTRNZ
      • ENZED CMC
      • Pirelli Porsche
      • Mazda Pro-7
      • NIERDC
      • SIERDC
      • SsangYong Utes
      • Kartsport
      • NZ General
    • Australia
      • Supercars
      • Super2
      • Australian V8 Touring Car Series
      • S5000
      • Australian GT
      • TCR AU
    • General
  • Features
    • Features
    • Opinion
    • Profile
    • Race Cars
  • Calendar
  • Results
  • Velocity TV
  • Performance Cars
  • Classifieds
    • Classifieds
    • Post Classified
    • Manage your listings
  • Jobs
    • Jobs
    • Post a Job
    • Job Dashboard

© 2020 VelocityNews - Independent New Zealand and International Motorsport news.