Daimler backs Mercedes to stay in F1

Daimler backs Mercedes to stay in F1

Toto Wolff, the current team principal of Mercedes AMG Petronas, could step down before the start of the 2021-2022 season, as reports claim.

A report in German media this week even suggested the team could be sold to Lawrence Stroll, who recently took control of Racing Point and invested in Aston Martin.

A Daimler statement issued to Crash.net via Mercedes said: "Speculation regarding a potential withdrawal from Formula 1 continues to be unfounded and irresponsible". As the parent company of Mercedes, that organisation has a lot of influence on the Formula 1 team and it has therefore been decided that the collaboration with Wolff will be continued as the top man.

Of course, such denials should be expected at this stage, but with Mercedes largely quiet in recent talks over F1's future and reluctant to start negotiations with Lewis Hamilton and Valtteri Bottas over new contracts, there are enough signs that something is going on behind the scenes.

One opportunity is for Wolff to remain as group principal however go back from such an extreme timetable by not participating in all races.

Following information of a personal financial investment he made in the Aston Martin roadway cars and truck firm last month, Wolff anxious he continued to be dedicated to Mercedes' F1 job which "nothing will change in the short-term".

Mercedes returned to F1 with a works team in 2010, and has gone on to win a record-breaking six consecutive drivers' and constructors' championship doubles since 2014.

While producers are supported for the financial effect of the COVID-19 pandemic, a plethora of price conserving procedures targeted at making F1 extra lasting will certainly show up in 2021.

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