Toto Wolff, a central figure in Formula 1, has reaffirmed his commitment to Mercedes F1 by signing a new three-year deal. This extension ensures his continued role as the team principal and chief executive officer until the end of the 2026 season.
Wolff, who holds a significant one-third stake in Mercedes F1, shared in an exclusive interview with the Telegraph that his commitment to the team is stronger than ever. This news comes as a positive boost for Mercedes, which has been a dominant force in Formula 1 for nearly a decade.
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Under Wolff’s leadership, Mercedes achieved an impressive record, clinching eight constructors’ titles consecutively between 2014 and 2021. Despite facing a tougher challenge during the 2023 season and finishing second to Red Bull, the team’s competitive spirit remains undiminished.
“I’m not going to try to hang on to a position that I think somebody is going to do better than me,” Wolff said.
“I make sure that I have people around who can tell me otherwise. In the end the three of us decided: ‘Let’s do it again’.”
At 52, Wolff has been an integral part of Mercedes since January 2013, pivotal in steering the team to numerous victories and championships. His expertise and leadership have been instrumental in shaping Mercedes F1’s success story.
Ownership of the team is a three-way affair, with Mercedes-Benz, Wolff, and a subsidiary of Ineos – led by Sir Jim Ratcliffe, a notable investor in Manchester United – each holding equal stakes.
Despite a challenging phase, where Mercedes has secured only one race win since 2021, the team’s resolve remains strong. Lewis Hamilton, one of Mercedes’ drivers, finished third in the drivers’ championship in 2023, showcasing the team’s resilience and competitive edge.
Looking forward to the 2024 season, Mercedes is gearing up for the Bahrain Grand Prix, which is set to kick off from 29 February to 2 March. This marks the beginning of what promises to be an exciting and closely contested Formula 1 season.
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