ESPN.com · Dec 18, 2020
Mercedes never considered leaving F1
Mercedes parent company Daimler has confirmed it never considered withdrawing from Formula One, despite rumours earlier this year that it was weighing up its options.
On Friday, Mercedes announced that chemical company Ineos had bought a third of its F1 team, bringing about a new ownership structure. Daimler reduced its shareholding in the team from 60 to 33.3 percent, but the team will continue to be run under the Mercedes name.
The announcement ended months of speculation about the future of Mercedes in F1 as well as its team principal, Toto Wolff, who now owns 33.3 percent of the team and has committed to a further three years in his role.