© Steve Etherington for Mercedes-Benz Grand Prix Ltd.
After much speculation, last week Mercedes signed the new Concorde Agreement that defines new F1 commercial terms that will last from 2021 until 2025.
Formula 1 announced last Wednesday that the new Concorde Agreement has been signed by all teams by the early-sign deadline. The main focus of the new terms is a more equal distribution of money in an effort to make F1 more sustainable and competitive.
While Wolff said earlier Mercedes had issues with some parts of the agreement, now the team fully supports the new terms.
“We have always said that we wanted to stay in F1, so the agreement wasn’t necessarily all that surprising,” said Wolff in Mercedes’ Belgian Grand Prix preview.
“But we’re happy that we could bring the negotiations to a positive conclusion.
“We are committed to our sport and we’re looking forward to the upcoming years which will see the biggest transition F1 has ever seen.
“This will reward agile, open-minded teams who can adapt successfully to the demands of the new rules.”
So now all the Mercedes F1 exit rumours can be finally put to rest, as the team is fully committed to staying and competing in Formula 1.
