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Wolff: Committed to Mercedes for life despite three years contract only

SASH
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29 December 2020
8:23 am

Home » F1 Racing » Wolff: Committed to Mercedes for life despite three years contract only

Toto Wolff, Mercedes Formula 1 team principal, will continue his partnership with the team beyond 2020.

Wolff earlier engagement with team was due at the end of 2020. But both parties have reached an agreement, where he will work for the next three years.

Mercedes, on Friday, officially confirmed the new terms for partnership. The Autrian investor has been given a bigger share for the new partnership.

Mercedes’ Formula 1 project is now distributed equally among Wolff, INEOS and Daimler. INEOS recently bought the shares from the parent company in a strategic partnership. And to keep the Austrian on team, his shares were increased to 33.33% from 30%.

Wolff, who will now serve as CEO and Team Principal for the Mercedes F1 team, feels “committed to life” to the team. However, he admitted that his role at the team was “taking its toll” on him after straight eight year.

Mercedes cleared its position on his future and said that Wolff would 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”.

Wolff shared his thoughts that he feels committed to the Mercedes F1 team for the rest of his life despite only three years contract.

“That is a misunderstanding,” Wolff said, “I haven’t committed to a further three years. I have committed for life.

“We are three shareholders that own the company today, and irrespective of my own role, I could team principal, CEO, executive chairman, at any time.

“But Mercedes is what I do.”

Wolff at Mercedes

Wolff left Williams F1 team to join Mercedes in 2013 as Executive Director. His career with team had been outstanding. The team won seven continuous world championship titles for drivers and constructors under his supervision.

Lewis Hamilton aced six of his seven world title besides Wolff. And he was welcomed his decision to stay at the team..

“We have a good and fun environment, it’s a fun place to be, but at the same time, there is just the right amount of pressure,” Wolff said.

“We love what we do, we set the right objectives. I think we are living our values day to day. It’s all about integrity, loyalty, pride, determination – that’s what sums it up.

“It’s not something you can put on a powerpoint and say this is how we are, but something we have set as standards over the last eight years.”