Mercedes reduces its budget but confirms its continuity in Formula 1

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“It is as if Bayern Munich is abandoning football,” stressed the CEO of the powerful German group Daimler.

Every weekend, Mercedes shows its superiority in Formula 1. Lewis Hamilton won five titles in the last six years and the remainder, in 2016, was achieved by Nico Rosberg, who drove the other Silver Arrow. In 2020, the Englishman is the leader among the drivers with 61 points of advantage over his teammate, Valtteri Bottas, while in the Constructors’ Championship the German team took 180 units from Red Bull.

Faced with this scenario, and in the midst of a financial crisis due to the coronavirus, there was speculation that the team may leave the category. However, the Mercedes-Benz manufacturer denied it. “We have no reason to withdraw from F1It would be as if Bayern Munich abandoned football, “compared Ola Källenius, Chairman of the Board of Directors of the powerful German group Daimler.

During the annual presentation with shareholders, Källenius explained the business plan but also stopped at the Formula 1 to emphasize that the budget will be reduced and to communicate that AMG, the division of the German automaker that is responsible for the development of competition cars, will influence with more emphasis on the decisions made in the team led by Toto Wolff.

Of course, the budget reduction is not a decision that only involves Daimler, since the organizers of Formula 1 set a cap of 145 million dollars from 2021. Last year, Mercedes spent 430 million dollars, an amount three times higher than the budget limit that will try to equalize the resources of the teams and generate greater competitiveness from next season.

“The financial burden that Formula represents will be cut in half over the next three years. As for Formula 1, we have set ourselves more aggressive goals than in other areas of the company, “Ola Källenius revealed to the TV6 network after the meeting with shareholders.

On the incidence of AMG, meanwhile, he said: “With the electrification of the portfolio from 2021, AMG is ready for the next level. The connection between the sub-brand and Formula 1 will intensify next year to increase the identity of the high-performance brand and be more widely considered. “

Instead, he did not refer to the continuity or not of Toto Wolff, whose contract ends at the end of the year. In August, the executive director of the team since 2013 confessed that he was “in a period of reflection.”

“I just know that I love people, I really enjoy working with the board of directors of Daimler and Ola Kallenius, and I love the stopwatch, and that keeps me in the team, whatever it might mean for the future,” he remarked then.



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