© Steve Etherington for Mercedes-Benz Grand Prix Ltd.
Daimler Chairman of the Board of Management Ola Källenius talks about Toto Wolff’s importance for Mercedes and the team’s new ownership structure.
On Friday Mercedes announced that the Mercedes F1 team will have a new ownership structure with Daimler, INEOS and Toto Wolff becoming equal partners. In addition, Toto Wolff has agreed to lead the team as team principal for at least another three years.
“That’s incredibly important,” said Källenius when talking about Wolff’s commitment.
“What Toto and the team have achieved over the last 10 years or so is unbelievable – seven world championships, Lewis Hamilton’s seventh world championship this season.
“So to have him on board and continuing with us is reassuring. He’s not just our team boss and a business partner, he is part of the Mercedes family.”
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With Daimler’s stake in the team decreasing from 60% to a little over 33%, Källenius reassures everyone of Mercedes’ commitment to Formula 1.
“We are now taking our Formula 1 engagement to the next level. It’s really turning into a sports franchise, and we want to build the value of this franchise into an even bigger fan base.
“INEOS is the perfect partner for us. It’s a technology company, they are passionate about innovation, so are we.
“They are engaged in other sports at the highest level, so they understand this world of being in the top echelon of sports, and that’s why they are a perfect partner for us.
“The Mercedes brand was born on the race track, so it’s in our DNA. We live and breathe motorsports, so we’re in for the long term.
“Formula 1, being the highest form of motorsport, is where we need to be, so our commitment to the sport is strong, and with this partnership with INEOS we can develop it even further,” concluded the Swede.
