F1 News
Wolff explains: Three-year contract with Mercedes ‘misunderstood'
- GPblog.com
As a result of the partial takeover of INEOS, the shares of Mercedes are now held by three parties in equal amounts. INEOS, Daimler and Toto Wolff all own a third of the shares and with this it was also announced that Wolff will be team boss of Mercedes for the next three years. However, the Austrian sees things differently.
"That is a misunderstanding. I have committed myself not for three years, but for life," explains Wolff at Motorsport-Total.com. According to Wolff, the contract with Mercedes expires in 2023, but as a shareholder he has no intention of ever selling his shares. As a result, the Austrian will remain linked to Mercedes forever.
Never sell shares
"There are now three shareholders who own the company," explains Wolff. According to him, it doesn't matter what his role within the team is, he can also take on another role. "Apart from that, I can also get a role as CEO or chairman of the board. Mercedes is what I'm working on now and that's not going to change any time soon in the future."
The arrival of INEOS as a shareholder is also bringing fresh wind to the team and according to Lewis Hamilton, who has yet to sign up, this is a good move. "We have set the bar very high in recent years. I think we now have the right people in the right places and the future looks good for this team."