Daimler Rubbish Reports of Mercedes and Toto Wolff Departures With a Big Update

Mercedes is leading the 2020 F1 Constructors’ Championship standings. While plenty of racing action can be the subject of discussion, the break between races is generally well utilized. The drivers’ market and constructors rumors always do the rounds in the paddock and among a back-and-forth exchange of statements from sources, it is tough to decide on what snippet of information to believe.

One such rumor is the potential sale of the Mercedes team and exit from Formula 1. It was suggested sponsor Ineos were keen on buying out the team. But, as per the latest news, Daimler – the owners of the Mercedes F1 team – have denied any such developments.

Mercedes has no intentions of exiting the sport

According to a report by SpeedWeek.com, a Daimler spokesperson stated, “We will continue with the team, and that will also be a Mercedes team. We don’t intend to go out there. We’ll continue with the same people: Lewis, Valtteri and Toto. We don’t plan to have another team boss.” (translated from Google Translate)

Team Principal Toto Wolff also expressed his opinion on the matter. He said, “People pick up a bit here and there, and then they make a story out of it. It’s all constructed.” (translated from Google Translate)

Back in action as a constructor in 2010, Mercedes led by owners Daimler bought a 45.1% stake in the team. After Aabar Investments sold their stake to the German automotive giant, Daimler claimed full control of the team. Their investment has given them a lot of returns over the years. Hence, if the chance to claim dominance is there, it is hard to see why Daimler would back out at such an important stage in the sport.

Toto Wolff and Lewis Hamilton to extend their contracts soon

Mercedes has taken F1 by storm in the last decade. The team has swept records and races and won the last 12 titles on offer – Drivers’ and Constructors’. A major reason for this success has been the duo of Toto Wolff and Lewis Hamilton.

A running sub-plot, smeared with intrigue, are the contract situations of both these key players. When Valtteri Bottas‘ renewal was announced early in the season, fans would have expected these two to follow. After this statement by Daimler themselves, the renewals could now be announced sooner than expected.