On Friday Mercedes announced that team boss Toto Wolff will serve as the team’s principal for at least three more years, ending a year-long speculation about his future.
“He will have the subsequent opportunity to transition to a new executive function within the organisation when he decides it is the right time to do so,” added Mercedes in a statement.
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It has also been announced that Toto Wolff’s stake in the team will increase to a little over 33%. Now the Austrian says the announcement of a three-year deal has been misunderstood, as he will remain with Mercedes “for life”.
“I have not committed myself for three more years, but for life!” Wolff was quoted by Motorsport-Total.com.
“We are now three shareholders who own the company. Mercedes is what I do.”