Wolff and Lauda renew Mercedes F1 contracts to 2020
- Author: Julie Sanders Feb 20, 2017,
Feb 20, 2017, 17:39
Former world champion, Lauda, joined the team in 2012 and was instrumental in encouraging Lewis Hamilton to quit McLaren and join Merc in 2013.
Wolff and Lauda's deals offer welcome long term stability for Mercedes in what has been a winter of upheaval following Nico Rosberg's sudden retirement and technical guru Paddy Lowe leaving to take up a role at Williams.
The two Austrians will work alongside new recruit James Allison to help the Brackley-based team retain the drivers and constructors titles.
Wolff, who owns a 30 per cent stake in Mercedes-Benz Grand Prix Ltd and is responsible for the day-to-day operations of the team, joined from Williams in February 2013 and has overseen three successive world title triumphs - Lewis Hamilton securing glory in 2014 and 2015 prior to Nico Rosberg's success previous year.
Mercedes Formula 1 boss Toto Wolff and non-executive chairman Niki Lauda have both committed their futures to the team until 2020.
And we are guaranteed a new champion in 2017 after the retirement of Nico Rosberg at the end of a year ago.
Wolff is looking forward to enjoying continued success with every one of Mercedes' employees this year.
The announcement came ahead of Hamilton and new teammate Valtteri Bottas unveiling the new Mercedes vehicle at Silverstone in England on Thursday.
The shareholding arrangements remain unchanged, with Daimler AG retaining a 60% majority stake in the team. Toto and I formed a flawless partnership at Mercedes and we have a great team on every level that has delivered results. "Since then, however, the results have exceeded our expectations", said Dieter Zetsche, chairman of Mercedes' parent company Daimler, in a statement.
The new contracts, which had been due to expire at the end of this year, will keep them with the team up until Mercedes' own current commitment to Formula One.