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Toto Wolff Keeps Mercedes F1 Boss Job for Three More Years; Ineos Buys One-Third of Team

Toto Wolff Keeps Mercedes F1 Boss Job for Three More Years; Ineos Buys One-Third of Team By Máté Petrány, The Drive © Provided by The Drive Just past the season finale in Abu Dhabi won by Red Bull Racing s Max Verstappen, 2020 s F1 champion team Mercedes has announced that parent Daimler will reduce its current 60-percent stake. However, British chemical company and automotive startup Ineos is buying, along with team principal and CEO Toto Wolff, so that instead of his current 30 percent, all three parties will start 2021 by having equal shares in the Mercedes-AMG Petronas F1 Team. Lewis Hamilton, who won six of his seven drivers titles with Wolff, is also expected to sign a deal with the Silver Arrows crew by Christmas.

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