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Wolff Signs 3-Year Deal As Ineos Purchases Stake In Mercedes F1 Team
British multi-national petrochemicals company Ineos has acquired a significant stake in the Mercedes F1 Team, while Toto Wolff has agreed to stay on as team principal and CEO for another three years and has increased his shareholding in the team. Under the new ownership structure, the Mercedes F1 Team is equally owned by Daimler, Ineos and Wolff, with each owning one-third of the Brackley-based team. READ: Ferrari Thank Sebastian Vettel For Staying Positive Amid Difficult Season Prior to the deal, Daimler owned 60 percent while Wolff owned 30 percent. The team will continue to run as the Mercedes works team and its name will remain unchanged. In a statement, Wolff said he is “pleased to...
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3y ago from Formula1News.co.uk
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