Toto Wolff and Niki Lauda extend their Mercedes contracts
Mercedes F1 bosses Toto Wolff and Niki Lauda have extended their contracts with the team until the end of 2020.
The significance of that date is that it is aligned with the end of the current commercial agreements with F1, made by Bernie Ecclestone. From 2021 onwards new owners Liberty will have to put new deals in place. Wolff and Lauda are also shareholders in the team, so the timing of the deal is logical.
“In 2013, we restructured the management of the Team with the clear goal of improving our performance,” said Dr. Dieter Zetsche, Chairman and CEO of Daimler AG. “Since then, however, the results have exceeded our expectations. A key factor in this success has been the combination of Toto’s entrepreneurial skills and Niki’s experience. Their renewed commitment gives our program important continuity for the next four years.”
“The last few years have been some of the most enjoyable I have had in Formula One,” said Lauda. “Toto and I formed a perfect partnership at Mercedes and we have a great team on every level that has delivered results.”
Wolff added: “Winning is never down to single individuals – it is about the right group of people coming together, aligning themselves with a common objective and then combining their talents to achieve that target. Each day I come to the factory, I am humbled to have the privilege of representing this inspiring group of people.”