Reuters
Formula One F1 – Emilia Romagna Grand Prix – Autodromo Enzo e Dino Ferrari, Imola, Italy – Mercedes’ Valtteri Bottas in action during qualifying REUTERS/Guglielmo Mangiapane
Reuters
Formula One F1 – Emilia Romagna Grand Prix – Autodromo Enzo e Dino Ferrari, Imola, Italy – Mercedes’ Valtteri Bottas in action during qualifying REUTERS/Guglielmo Mangiapane
Daimler have been leading the Mercedes AMG F1 team through all kinds of decision-making processes since their foray into F1, way back in 2010.
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However, the recent developments surrounding the entry of INEOS as shareholders have meant that Daimler will soon be stepping back from their rather dominant position.
During the latter part of 2020, Mercedes made a ground-breaking announcement, revealing that Toto Wolff, Daimler, and INEOS will acquire equal shares at the Stuttgart outfit.
Reuters
Formula One F1 – Portuguese Grand Prix – Algarve International Circuit – Portimao, Portugal – Mercedes’ Valtteri Bottas and Mercedes’ Lewis Hamilton in action during the race REUTERS/Juan Medina
While Wolff and INEOS gained a substantial percentage, Daimler had to sell part of their shares in order to generate a three-way tie in ownership, each possessing 33.3%, ultimately adding up to approximately the team’s entire value.
However, the statement also clarified that the German giants, Daimler, will continue to handle the team’s affairs. Hence, it looked like their leadership in the team will be a never-ending saga, but there seems to be a twist in the tale.
5 months have gone by, and apparently, the deal is yet to go through. What’s more, once the trio completes the sale successfully, Daimler will no longer possess control over the racing team.
What will be the scenario at Mercedes after the sale?
As reported by RacingNews365, Daimler officially confirmed that they would have no control over the Mercedes F1 team after the successful completion of the sale.
“We assume that we will come out of it in the first half of 2021, after which we expect Daimler to no longer have control over the Formula One team,” the company mentioned in the latest financial report.
With Daimler finally stepping down after a decade, there will be concerns rising over potential changes to the team. However, as of now, it looks like Mercedes AMG will not change its factory team name.
Reuters
Formula One F1 – Portuguese Grand Prix – Algarve International Circuit – Portimao, Portugal -Mercedes GP Executive Director Toto Wolff talks in the Team Principals Press Conference FIA/Handout via REUTERS
Furthermore, Mercedes will continue to supply engines to two of their trusted customers, Aston Martin and Williams. And there will be no tweaks to the agreements with the two teams.
But the biggest fear is whether Mercedes will be able to continue their run of form following the massive changeover.
Considering the abundant success Daimler managed to churn out over the years, will INEOS and Wolff bring about even better performances for the team? Or could this be the start of their downfall in F1?
Read More: Toto Wolff to Continue as Team Principal as Mercedes Announce Major Change in Team’s Ownership
