Mercedes boss plays down current team sale rumours
May 21 - Toto Wolff has played down concerns that Mercedes parent Daimler has put the Brackley based team up for sale.
Ahead of the 2021 season, it was announced that Ineos, headed by British billionaire Jim Ratcliffe, had bought 33 percent of the team.
In Mercedes' words, it meant the ultra-successful team "will be owned in three equal parts by Daimler AG, Ineos and Toto Wolff".
However, there was some confusion after Daimler's newly-released financial results for Q1 stated that the Formula 1 team was in fact being "held for sale".
But team boss and co-owner Wolff confirmed that it is simply a reference to the three-way team ownership structure, which is still being organised.
"Yes, that's right," he said at Monaco.
"That refers to the sale of 33 percent to Ineos and some percentages to me. The transaction is signed and not closed and we expect this to happen in Q3. That's what the reference was to."
4 F1 Fan comments on “Mercedes boss plays down current team sale rumours”
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Mmmm Still being organised, meaning Jims still got the cash in his wallet, could still fall through then if the Season doesnt pan out the way Mr Ineos wanted it to perhaps
Now would a great time for MB to sell the racing team. Great recent record and no guarantees beginning next season. Let history be our teacher, F1 dominance is cyclical.
What about Sir Lewy H, buying out Daimler, that would be something
Hummm... then Lewis in Wonderland would be 1/3 boss of his little dog Toto? ;)