Toto Wolff And Niki Lauda Renewed Their Contract With Mercedes Formula One

Feb 22, 2017 04:30 AM EST | Paula

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Toto Wolff and Niki Lauda signed once again to Mercedes, ensuring that the team up will last until 2020. This is bound to last until the champion's current commitment to Formula One ends.

This might be a challenging time for the F1 team because of the departure of their Executive Director, Paddy Lowe and Formula One racer, Nico Rosberg over the winter. However, this does not stop the team for they will be launching a new car this season.

Toto Wolff and Niki Lauda were stakeholders of the team, Lauda owning 10 percent and Wolff owning 30 percent. It can be remembered that Niki Lauda joined the team by the end of 2012, The Guardian reported.

According to Lauda, he enjoyed the last few years he had with Formula One. He explained that he and Wolff developed a great partnership. Niki Lauda also thanked Dieter Zetsche, Daimler AG CEO, for the confidence they had for them.

Zietsche explained that Toto Wolff and Nikki Lauda had been instrumental to the success of Mercedes F1. He explained that they had the best combination of entrepreneurial skills and experience.

Dieter Zetsche explained that the restructuring they had in 2013 had one specific goal, to improve their performance. He believes that the renewal of the commitment of their two key members will help them achieve this in the next four years.

There seemed to be a lot of changes happening in Mercedes this year. With Nico Rosberg's retirement, the Formula One champion team signed Vatteri Bottas as Lewis Hamilton's teammate, BBC reported.

On the other hand, Paddy Lowe's position will be taken over by James Allison. Allison will be the new technical director or Mercedes, part of the responsibility re-alignment of the heads of the company.

Mercedes has a new challenger this year, Red Bull. Automotive News reported that they are preparing to remove the championship trophy in the hands of Mercedes with the help of the Renault Engine, only time will tell if Red Bull can indeed beat the triple Formula One champion.

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