In the most dominant Formula 1 team in the modern era, movements for the future have already begun. And while the continuity of Lewis Hamilton is not yet assured, the Austrian Torger Christian ‘Toto’ Wolff has signed a new bond for the next three years and that opens the door for the British rider to also follow.
Toto Wolff, 48, will continue in his role as Team Director and CEO until 2023, leading the company’s executive operations and racing team. The big change in this renovation is that it also takes a third of Mercedes.
“Ineos’s one-third stake in the team will add to its current role as title sponsor. At the same time, Daimler will reduce its stake from the current 60% and Toto Wolff will increase its current percentage of 30%, in order to create three equal partners in the company ”, announced this Friday the German team itself.
This restructuring and diversification of leadership, which will allow Toto Wolff to subsequently take on a new executive role within the organization if he wishes, is one of the pillars for the renewal of Hamilton. The seven-time F1 champion, winner of the last four World Cups, could extend his contract in the next few hours.
After finishing third at the Abu Dhabi Grand Prix, the Englishman said he expected negotiations with Mercedes on his new contract to be closed before Christmas. The 35-year-old British driver has equaled Michael Schumacher’s number of titles this season – he won one with McLaren and six with Mercedes – and would extend his bond with the team he has worked with since 2013.
Beyond these structural changes, the team will continue to run on Mercedes chassis and power units for years to come. This season they celebrated their seventh title followed by Formula 1 constructors, in addition to winning the last seven drivers’ titles: six from Hamilton and another in 2016 thanks to German Nico Rosberg. (GG) (INFOBAE)