A joint report from Autocar and RaceFans claims that the board of Daimler will meet in two weeks’ time to decide if the Mercedes team will exit Formula 1 after the 2020 season.
The bombshell report asserts that Daimler is under pressure to make significant cost savings having spent billions on its F1 programme since the factory team was revived to great success 10 years ago. It is claimed that the extravagance of participating in the highest form of motorsport jars with the company’s plans to lay off over 10,000 staff.
It is also understood that the team is under pressure to make a quick decision to minimize spending on the 2021 season, which will see the introduction of all-new cars – in turn prompting Mercedes to increase spending in order to remain at the forefront of the sport.
While Mercedes could leave the sport as a factory team, it wouldn’t leave the sport entirely and should continue to supply powertrains for McLaren and Williams, with the latter having inked an engine supply deal through to the 2025 season.
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Unnamed sources claim that current Mercedes team principal Toto Wolff could partner with Racing Point owner Lawrence Stroll to fund a new team that could be rebranded as Aston Martin. If this were to happen, Stroll could sell Racing Point, perhaps to Russian billionaire Dmitry Mazepin. It is claimed that Chinese carmaker Geely could also get in on the action and acquire a stake in Aston Martin while acting as a significant investor in the new F1 team.
If Mercedes does exit the sport, Lewis Hamilton could seek out a drive at Ferrari and race alongside Charles Leclerc.
Parties involved have not commented on the report. In November, when reports surfaced that the Mercedes-Benz team was for sale, a well-placed source within the company adamantly denied to Carscoops that the outfit was looking for a new owner.
