Mercedes release statement clarifying toto wolff stance

Mercedes have vigorously denied "unfounded and irresponsible" speculation that team principal Toto Wolff is set to resign at the end of the year which would heap doubts on Lewis

Hamilton signing a contract extension. Wolff has led the Silver Arrows to six consecutive double Championships, ending Red Bull's dominance in 2014. German publication Auto Bild claimed

the 48-year-old was preparing to leave his post to take up a more supervisory role. It was reported Wolff, who owns 30 per cent of of Mercedes' F1 team, would partner with Lawrence

Stroll to purchase more shares from Daimler, who own 70 per cent. However, Daimler have insisted they will not be stepping away from the sport by reaffirming their commitment.

"Speculation regarding a potential withdrawal from Formula 1 continues to be unfounded and irresponsible," the statement said. "The sport has taken the right measures to

address the consequences of the Covid-19 pandemic and its future financial sustainability, and we welcome these steps. "It is our clear intention to continue competing in Formula 1 as a

Mercedes-Benz works team in the years to come, and to do so with our managing partner Toto Wolff." Hamilton is also out of contract at the end of the season and he has previously

hinted he may leave Mercedes if Wolff walks away. News that the Austrian chief was weighing up his future may have cast doubts in the Brit's mind. "Why move to Ferrari? He’s with

Mercedes and he knows how well it’s run better than most. “If things stay as they are, there’s no reason for Lewis not to win another 10 championships."