Ola Källenius, Chairman of Mercedes’ parent company, Daimler, said that the new ownership structure did not alter his firm’s interest in F1.
“We remain firmly committed to Formula 1, and the forthcoming cost cap along with the new shareholding structure put us in an even stronger position for continued success,” he said.
“With an even closer alignment to our Mercedes-AMG performance division beginning in 2021, and Toto’s continued leadership in the coming years, the future is bright for Mercedes-Benz in Formula 1.”
There has been much recent speculation over the bond between Mercedes and Ineos, with Eddie Jordan claiming Ineos would buy out Mercedes amid rumours that Wolff was to step down from his position.
The Mercedes press release indicates Wolff “will 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.”
During the 2020 season, Wolff has said he was “in a moment of reflection where F1 is heading to.”