Who Owns Mercedes F1? – Essentially sports

One of the dominant teams on the grid, the Mercedes-AMG Petronas F1 Team, has painted the tracks silver over the years. With talents in drivers like Lewis Hamilton and Valtteri Bottas, the team has set the bar high on the grid. But who holds the reins of the historic team?

ADVERTISING

Article continues under this ad

Toto Wolff, a popular name in the paddock, is the CEO and team principal of the Brackley team. Although ownership of the team is split equally among three units, Wolff remains the one with direct control over the team’s operations.

ADVERTISING

Article continues under this ad

The big three from Mercedes

In December 2020, Mercedes announced the restructuring of its ownership. INEOS, a UK chemical manufacturer, became a third of the team’s owners. To create three equal partners, Daimler, the parent company, reduced its 60% and Wolff increased its 30% to add Sir Jim Ratcliffe, CEO of INEOS Group, to the ownership structure.

This means that Ola Kallenius, Sir Jim Ratcliffe and Toto Wolff are the co-owners (all 33%) of the Silver Arrows. The new shareholding structure also enables Wolff to continue his role as team leader and CEO for the next three years; He can then explore new management positions in the company if he wants.

We know you have a lot of questions about today’s @INEOS news!

So we asked Ola, Jim, and Toto to discuss some of the big topics to help you understand the details and explain why we are so excited about the future

pic.twitter.com/IkMaeylTrX

– Mercedes-AMG PETRONAS F1 Team (@ MercedesAMGF1) December 18, 2020

Wolff commented on the new partnership: “This new investment from INEOS confirms that the business case for Formula 1 teams is robust and sends an important signal of confidence in the sport after a challenging year.”

“I am pleased to welcome Jim, Andy and John to the team as co-owners: They have built one of the most profitable companies in the world … At the same time, it is a privilege to extend my partnership with Ola, Markus Schäfer, and Mercedes-Benz for the next Years.”

Formula 1 F1 – Hungarian Grand Prix – Hungaroring, Budapest, Hungary – July 30, 2021 Valtteri Bottas from Mercedes in action during training REUTERS / Florion Goga

Wolff concluded: “We are proud to have contributed to the brand’s prestigious motorsport legacy since 2010 and share the ambition to further expand the organization in the years to come.”

Toto Wolff – the leader of the pack

Under Wolff’s leadership, the team has developed into the most successful F1 team in sports history. With humble beginnings in Vienna, the Austrian had a short career in motorsport. Torger Christian Wolff dropped out of the Vienna University of Economics to start his own venture capital company. As a result, he made high-profile business in the early 2000s.

ADVERTISING

Article continues under this ad

Toto and Hans-Werner Aufrecht are co-owners of HWA AG, the engineering office behind one of the most successful racing programs. He later sold the state in 2015 and founded a driver management company with champion Mika Häkkinen. After acquiring a stake in the Williams team, Wolff entered Formula 1 in 2009. In 2012 he became the team’s managing director.

The Board of Management of Daimler AG asked Toto Wolff for an analysis of his F1 team. Wolff later acquired a 30% stake in the team together with Niki Lauda. He also took over the management of Mercedes Benz Motorsport.

ADVERTISING

Article continues under this ad

Check out this story: Lewis Hamilton: Ranking of his F1 world titles from 2008 to 2020