Toto Wolff rubbishes Mercedes buyout by INEOS rumours

© Steve Etherington for Mercedes-Benz Grand Prix Ltd.

Former F1 team owner Eddie Jordan recently claimed that Mercedes sponsor INEOS was in the process of taking over the team.

“The ownership of the team is going to be taken over by Sir Jim Ratcliffe and INEOS,” said Jordan.

According to Jordan, British Petrochemical giant INEOS would buy half of Daimler’s current stake in the team (Daimler currently holds 60%, which would leave them with 30%), all of Toto Wolff’s stake (30%) and the 10% that is currently held by the estate of Niki Lauda.

However team boss Toto Wolff was quick to deny the story.

“People pick up bits and pieces and construct a story around it,” the Austrian said at Mugello.

“Daimler has no intent in giving up the team and INEOS has no interest in buying a majority of the team. And I have no reason to depart from my shareholding. So plenty of things that are made up.

“The future of the team is absolutely clear, it’s the Mercedes AMG Petronas F1 team and nothing is going to change that,” concluded Wolff.

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