Wolff rubbishes claims of Mercedes buy-out by INEOS

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Toto Wolff has dismissed rumors that emerged over the weekend claiming that Mercedes sponsor INEOS is seeking to acquire the world championship winning team.

The story was published in the Mail on Sunday as part of an interview with former F1 team owner Eddie Jordan, who contends that ownership of the Brackley squad is going to be taken over by INEOS and its chairman Sir Jim Ratcliffe.

But Mercedes team boss Wolff was quick to put paid to the hearsay.

INEOS reportedly set to buy into Mercedes team!

"People pick up bits and pieces and construct the story around it," the Austrian said at Mugello on Sunday.

"We have a magnificent relationship with Ineos. We work together on several high-tech projects around the America’s Cup and the cycling team. And the partnership is very complementary.

"We have the same ambitions with our sports teams. And that’s why Ineos is a partner of ours. Beyond that, everything is just speculation.

"Daimler has no intent in giving up the team, and Ineos has no interest in buying a majority of the team and calling it like this and I have no reason to depart from my shareholding.

"So plenty of things that are made up."

"The future of the team is absolutely clear," he added. "It's the Mercedes AMG Petronas F1 team and nothing is going to change that."

Wolff has yet to clarify his role with the Mercedes team for 2021 and beyond, previously hinting that he could remain at the helm while delegating more day-to-day responsibilities to allow him to travel to less races in the future.

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Phillip van Osten

Motor racing was a backdrop from the outset in Phillip van Osten's life. Born in Southern California, Phillip grew up with the sights and sounds of fast cars thanks to his father, Dick van Osten, an editor and writer for Auto Speed and Sport and Motor Trend. Phillip's passion for racing grew even more when his family moved to Europe and he became acquainted with the extraordinary world of Grand Prix racing. He was an early contributor to the monthly French F1i Magazine, often providing a historic or business perspective on Formula 1's affairs. In 2012, he co-authored along with fellow journalist Pierre Van Vliet the English-language adaptation of a limited edition book devoted to the great Belgian driver Jacky Ickx. He also authored "The American Legacy in Formula 1", a book which recounts the trials and tribulations of American drivers in Grand Prix racing. Phillip is also a commentator for Belgian broadcaster Be.TV for the US Indycar series.