We see World Champion Mercedes move up to reiterate their commitment to Formula One. It was news that there were speculations in Germany regarding Mercedes selling their team to Aston Martin owner Lawrence Stroll and Racing Point. This comes just a few days after Formula 1 announced new financial regulations for the participant companies, in effect from 2021. The main reason for the financial caps being a sustainable and efficient future for the Formula one races and its ten participant companies. Also, we hear Silver Arrows asking companies to maintain bilateral contracts to compete in F1 races in the current campaign. He plans to go on next year with Toto Wolff, whose speculations were to step down from his role.
We heard from Daimler, the parent company of Mercedes, stating that the speculation for their potential withdrawal from the F1 races is completely unfounded and irresponsible. He says they have clear decisions to go on as one team, Mercedes- Bentz, in upcoming races with their managing partner Toto Wolff. They are in support of the decision taken by the sport management team and welcome the measure taken in effect for COVID 19 pandemic. There may be changes in the roles of Wolff, though they say they are going to continue. The board wants him to lead, but he doesn’t believe his reasoning.