Austrian Toto Wolff, co-owner and team boss of Mercedes, announced on Monday that he has signed a three-year contract to extend his tenure at the head of the German Formula 1 team, which he has led since 2013.
The 52-year-old former driver, who owns a third of the team’s shares, made the announcement after a meeting with INEOS and Mercedes-Benz, the other two co-owners.
“I’m not going to try to hold a position where I think someone will do better than me,” he told the Daily Telegraph. “In the end, the three of us decided, ‘let’s move on.'”
“For me, the risk is always more boredom than exhaustion. That’s why I take on the challenges we face today, even if sometimes they seem very, very hard to manage,” he added.
Under his leadership, the German team won the constructors’ championship eight consecutive times between 2014 and 2021. Mercedes finished the 2023 season behind Red Bull, with its star driver Lewis Hamilton in third place individually that position.
“At the end of the day, as a shareholder myself, I want the best return on investment. And the best return on investment is success,” the Mercedes team boss told British media.
This announcement ends speculation about Wolff’s future at Mercedes.
Mercedes also confirmed on Monday that its new 2024 cars, driven by Lewis Hamilton and George Russell, will be unveiled at Silverstone on February 14.
Source: La Verdad
I’m Rose Herman and I work as an author for Today Times Live. My expertise lies in writing about sports, a passion of mine that has been with me since childhood. As part of my job, I provide comprehensive coverage on everything from football to tennis to golf.
