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INEOS becomes Mercedes shareholder as Wolff extends deal

Discussion in 'F1' started by william, Dec 18, 2020.

  1. william

    william F1 World Champ
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    INEOS becomes Mercedes shareholder as Wolff extends deal

    https://www.motorsport.com/f1/news/mercedes-ineos-shareholding-toto-wolff/4928991/?ic_source=home-page-widget&ic_medium=widget&ic_campaign=widget-22

    Chemicals company INEOS has become a one-third shareholder in the Mercedes Formula 1 squad as part of a new deal that commits Toto Wolff to remaining as team principal.
    On Friday it was confirmed that ownership of the team would now be split three ways, with equal parts taken by Mercedes, INEOS and Wolff.

    The deal means that Mercedes has diluted its previous 60% ownership of the team, while Wolff has increased his share up from 30%.

    As part of the arrangements, Mercedes boss Wolff has committed to staying on as team principal and CEO for the next three years, with the potential to move to a different executive role after that.
     
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  3. jpalmito

    jpalmito F1 Rookie

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    Big money in the end for Toto.
    He really deserves it.
     
  4. classic308

    classic308 F1 Veteran

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    he’s done an excellent job but the tech team at MB really are the reason behind the success. Russell sitting in an ill fitting car for the first time and dominating until the screwup only confirms the excellence of the MB. The drivers are clearly secondary in today’s F1. The prohibition on development and real world testing will only continue to insure MB’s dominance, and that’s why manufacturers aren’t coming into F1 and why Honda is leaving. F1 has lost the plot. Want exciting motor racing? Check out MotoGP. I’m hooked big time on it now.
     
  5. jpalmito

    jpalmito F1 Rookie

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    Completely agree with you, but such a huge structure composed by numbers of competitive people must have a competent conductor.
    It’s a very difficult job.( ask Dominicali )
    For me Toto remains the key to Mercedes' success in the last seven years.
     
  6. jgonzalesm6

    jgonzalesm6 F1 World Champ
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    Wolff to stay Team Principal for another 3 years.
     
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  8. pilotoCS

    pilotoCS F1 Veteran
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    This sets the stage for a Mercedes total exit in a few years.
     
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  9. william

    william F1 World Champ
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    Or they stay for much longer, since they are not so much involved now.
    Becoming a minor shareholder, MB may simply license the name and let Wolff and Ratcliffe run the F1 team.
    Ineos is a majot chemical company, and investing in F1 is mere peanuts for them.
     
  10. DF1

    DF1 Two Time F1 World Champ
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    Yes the cost of the team is now fully minimized. The board in Stuttgart will be even more pleased as they spend little now. The figures showing true Daimler cost are not significant. Labor as a whole with respect to the concern will not complain about Daimler investment.
     
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  11. 375+

    375+ F1 Veteran
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    Toto and Niki Lauda.
     
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  13. jpalmito

    jpalmito F1 Rookie

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    Don’t want to be a polemicist but I really doubt Lauda was crucial in organizing this invincible armada.
    Remember he failed in Ferrari before the arrival of Jean Todt.
     
  14. mdrums

    mdrums Formula Junior

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    Wish Toto was with Ferrari... oh well.
     
  15. jpalmito

    jpalmito F1 Rookie

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    This is exactly what Turrini thinks about the situation. Cheaper for Mercedes and still as efficient. They do not hesitate to mention their desire to reach 10 consecutive titles according to him! Happy evening to all ..
     
  16. william

    william F1 World Champ
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    No, the man Ferrari needs is Guenther Steiner, the present Haas team manager, IMO.
    He has a good grounding in engineering, motor racing and management
    He has 20 years experience in F1, having been team manager at Jaguar and then Red Bull.
    He set up the Haas F1 team that already has links with Ferrari.
    He is Italian, with an American passport, and also speaks German.
    He is also a no nonsense individual who speaks his mind, and don't suffer fools.
    Given enough latitude, he would certainly kick the Scuderia into shape, I think.
     
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  17. SimCity3

    SimCity3 Formula 3

    That's not a bad idea.

    It would be wasteful to see Charles and Carlos languishing at the back of grid for a few more years. Both are WDC material IMHO.
     
  18. johnireland

    johnireland F1 Rookie
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    So why didn't he kick Haas into shape. He's had four years to do it.
     
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  19. slm

    slm F1 Rookie
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    $$$$$
     
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  20. jpalmito

    jpalmito F1 Rookie

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    Frederic Vasseur would be a better choice for the job.
    He is ruthless.
     
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  21. mdrums

    mdrums Formula Junior

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    I guess Gunther would be good...probably would ....some will look at his time with HAAS but that is just some lack of money and other talent around him.
     
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  22. cairns

    cairns Formula Junior

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    Lauda did bring Hamilton to the team. And I suspect more than a lot of good advice.
     
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  23. william

    william F1 World Champ
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    Be reasonable, Haas is a start-up team with probably the lowest budget on the grid.
    In all reality, Haas is punching well above its weight, and suffers from Ferrari's woes on the engine side too.
    So, no fault from Steiner but I wouldn't expect Haas to challenge the top teams ... yet, but that may change with the budget cap.
    I have detected in Steiner some qualities that a plant from Philip Morris or CFA to lead the Scuderia will not be able to match.
     
  24. Mitch Alsup

    Mitch Alsup F1 Veteran

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    and has gone from front of the mid-field, to as slow as Williams in 4 years.
     
  25. william

    william F1 World Champ
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    Well, look how all the teams with Ferrari engine have gone down too.
    - Ferrari 6th
    - Alfa Romeo 8th
    - Haas 9th
    It's quite obvious that the engine has been a big letdown this year, following some behind-the-door shenanigans at the FIA !

    I still remain of the opinion that Steiner has enough experience to lead the Scuderia, whatever you may say.
    He would certainly be more of an asset at Maranello than a tobacco executive, or a corporate executive with no motor racing background.
     
  26. Bas

    Bas Three Time F1 World Champ

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    he would be better than Binotto, that's for sure.
     
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  27. johnireland

    johnireland F1 Rookie
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    I don't care how bad the engine has been...I don't see any fight from any of the Ferrari teams. If Gunther was any good he'd be punching above his weight. He'd have made driver changes in year two. Instead he sits on the pit wall with a sour face. The whole team is an embarrassment.
     
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  28. Bas

    Bas Three Time F1 World Champ

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    True, I don't understand them keeping Grosjean/Magnussen. If memory recalls at least one of them was out of contract end of last year and, despite Hulkenberg being available...they kept both their drivers on for another season.

    That said I do think Kmag brought significant sponsorship.
     

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