Daily Times

LONDON: Mercedes plans to stay in Formula One for years to come, parent company Daimler has said after renewed speculation about the world champions’ future and the intentions of team principal Toto Wolff. Daimler criticised the “unfounded and irresponsible” reports. “The sport has taken the right measures to address the consequences of the COVID-19 pandemic and its future financial sustainability, and we welcome these steps,” it said in a statement.

“It is our clear intention to continue competing in Formula One as a Mercedes-Benz works team in the years to come, and to do so with our managing partner Toto Wolff.” Germany’s Auto Bild had suggested on Thursday that Racing Point owner and Aston Martin’s executive chairman Lawrence Stroll could buy Daimler’s stake in the Mercedes team. The report said Wolff, a 30% shareholder, could stand back from his operational role. Mercedes have won the last six successive drivers and constructors’ titles, with Britain’s Lewis Hamilton chasing a record-equalling seventh this year.