Mercedes near on exit from Formula 1 according to a report from The Times newspaper’s F1 correspondent Kevin Eason claims Mercedes could walk away.
Mercedes F1 team made the first race victory since its come back to the sport in 2009 as a fully- dedicated contestant, it has been claimed that the Brackley-based operation ‘could be forced out’ following being excluded from Formula 1 supreme Bernie Ecclestone’s Stock Exchange floatation boardroom.
‘Mercedes, which is estimated to have spent more than £1 billion on grand-prix racing in the past two decades, is on the verge of quitting Formula One as the company is denied a seat in the new boardroom that will control the sport when a Stock Exchange float is completed,’ reported the newspaper on Monday.
‘Red Bull, the relative newcomers to grand-prix racing, and Ferrari have both been promised boardroom places by Bernie Ecclestone, Formula One’s chief executive, as he lines up a float that could value Formula One at up to £6 billion.’
The report continues: ‘Mercedes, who registered their first win of the modern era in China only last month, have been isolated with McLaren, their former partners, also being handed a place.’
The Times goes on to claim the exit of Mercedes from F1 could result in the loss of 1000 jobs and wipe 20 per cent off F1’s floatation valuation.
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