Toto Wolff believes that Mercedes Formula 1 team need to adapt their structure in order to meet the new cost cap and the regulatory changes coming in 2022.
With the sport’s first-ever financial restrictions set to be introduced for the start of the 2021 season, teams will have to ensure that they remain within the $145 million limit, which will be reduced to $140 million in 2022 and then $135 million in 2023.
There are exceptions to the cap, including marketing costs and driver salaries, and it remains to be seen how much of an impact the new restrictions will have on the top teams.
The technical regulations, which were originally intended to be introduced in 2021, will take hold in 2022, with the sport looking to generate closer racing and a more competitive field spread.
Speaking about how Mercedes will look to tackle the upcoming challenges that come with regulatory overhaul, Wolff said that his team “embrace” change and are motivated by factors “working against us”.
“For us, it will be an interesting year, because we need to structure ourselves in a different way than we have done before, due to the cost cap,” he told Autosport. “We are facing this formidable challenge of slightly tweaked 2021 regulations and a big earthquake of regulatory change for 2022.
“There’s factors that are working against us that motivate us a lot, factors that are working for us, because we believe we have a good organisation.
“But overall, we embrace change and we’ve always done so in the past. So the organisation is very much looking forward into 2022.”