Kallenius: Securing Wolff’s future was incredibly important

Daimler chairman Ola Kallenius believes that it is “incredibly important” for Mercedes that Toto Wolff agreed to stay on as team principal for a further three years.

Mercedes Formula 1 team announced on Friday that Wolff had signed a new deal, while it has been reported that Lewis Hamilton could be set to follow suit and put pen to paper on a three-year contract of his own worth £40 million per season.

Since the two arrived in 2013, Mercedes has won seven constructor’s titles, with six of Hamilton’s seven titles coming while driving for the Brackley-based team. Try SA Gaming for your punting needs.

Asked how the Austrian’s decision impacted the team moving forward, Kallenius said: “That’s incredibly important. What Toto and the team have achieved over the last 10 years or so is unbelievable – seven world championships, Lewis Hamilton’s seventh world championship this season.

“So to have him [Wolff] on board and continuing with us is reassuring. He’s not just our team boss and a business partner, he is part of the Mercedes family.”

Daimler has reduced its shareholding in the F1 outfit from 60% to 33.3%, with Wolff, Daimler and INEOS now equal partners.

“We are now taking our Formula 1 engagement to the next level,” Kallenius added. “It’s really turning into a sports franchise, and we want to build the value of this franchise into an even bigger fan base.

“INEOS is the perfect partner for us. It’s a technology company, they are passionate about innovation, so are we.

“They are engaged in other sports at the highest level, so they understand this world of being in the top echelon of sports, and that’s why they are a perfect partner for us.

“The Mercedes brand was born on the race track, so it’s in our DNA. We live and breathe motorsports, so we’re in for the long term.

“Formula 1, being the highest form of motorsport, is where we need to be, so our commitment to the sport is strong, and with this partnership with INEOS we can develop it even further.”