Toto Wolffe Confirms That Mercedes Is Not Selling Out To Ineos 

The wild rumour of the Mercedes F1 team getting taken over by sponsor Ineos has been debunked by Toto Wolffe, the team principal and shareholder of the team. This comes at the backdrop of a daily mail report which quoted Eddie Jordan who believed that Ineos was going to take over the Mercedes team for 700 million euros and rebrand it with Wolffe leaving the outfit.

The Mercedes team is the most successful F1 team of the last decade

"Hundred per cent of how you worded it, the future of the team is absolutely clear. It's the Mercedes-AMG Petronas F1 team. And nothing is going to change that," said Toto Wolffe to motorsport.com. "You know people pick up bits and pieces and construct the story around it," he said elaborating on the comments by Eddie Jordan.

Wolffe went on the say that Ineos and Mercedes have a great relationship which extends to even the America's Cup and the cycling team. He even said that the partnership was very complimentary but specified that Daimler has no intention of selling the team while the Ineos has no intention of buying it.

"And I have no reason to depart from my shareholding. So, plenty of things that are made up," he clarified about his future with the team.

Mercedes is widely expected to let Lewis Hamilton go

On the issue of Lewis Hamilton's contract not being closed, Wolffe cited the triple headers as the reason for not finding the time to close the negotiations.

Wolffe is also an investor in the Aston Martin F1 project and many believed that he would leave Mercedes to head the new project, but he specified that he is a minor investor in the project.