Daimler says intends to retain the Mercedes works team in Formula 1 “in the years to come” with Toto Wolff in charge, rejecting speculation that it could pull out.
A German media report claimed Daimler was in talks over a deal that would end its factory commitment with the Mercedes team, involving a form of takeover from Lawrence Stroll that would also see Wolff leave. However, a Daimler statement firmly dismissed the rumor, saying the new budget cap and aerodynamic testing restrictions make F1 a more sustainable and attractive proposition for the future.
“Speculation regarding a potential withdrawal from Formula 1 continues to be unfounded and irresponsible,” a Daimler spokesperson said. “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.
“It is our clear intention to continue competing in Formula 1 as a Mercedes-Benz works team in the years to come, and to do so with our managing partner Toto Wolff.”
Rumors regarding Mercedes’ future in the sport have been circulating for a number of years due to the team’s domination, but the commitment comes with Renault also pledging to stay in F1 despite planning on cutting some 15,000 jobs globally.
Mercedes has won the past six drivers’ and constructors’ championships, with Lewis Hamilton taking five of the drivers’ titles. Hamilton and teammate Valtteri Bottas are both out of contract at the end of the season, while four-time champion Sebastian Vettel has been linked with a potential move, as have Mercedes juniors George Russell and Esteban Ocon.