Toto Wolff another three years as Mercedes team principal

Published on 19 December 2020 by Kees-Jan Koster

Toto Wolff continues for the coming three years as team principal for the Mercedes Formula 1 team. Just like sponsor INEOS, he also increases his share in the German team to 33.3 percent. INEOS has acquired 33.3 percent of the shares from Daimler AG.

These acquisitions result in a structure of three equal owners and thus hopes the team to continue to be successful for the coming years in Formula 1. Since the start of the hybrid era in 2014, Mercedes took all world titles for constructors and drivers.

“We are delighted to welcome INEOS as a fellow shareholder”, according to Daimler CEO Ola Kallenius. “It is a sign of the strength of the organization in Brackley that we have been able to attract prestigious investors in INEOS. 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.”

“I am pleased to begin this new chapter for the Mercedes-AMG Petronas F1 Team”, says Wolff last Friday on the team’s website. “This team is like a family for me. We have been through so many highs and lows together that I cannot imagine working with a better group of people in this sport.”

As of yet there is no news on any contract extension for Lewis Hamilton.