Mercedes F1 Team now completely controlled by Daimler

Daimler buys back entire stake in Mercedes F1 team from Abu Dhabi’s Abra Investments, who at the start of the year made it clear that…

Daimler buys back entire stake in Mercedes F1 team from Abu Dhabi’s Abra Investments, who at the start of the year made it clear that they wanted to get rid of of their stake in Mercedes F1 Team. Daimler Corporation have lived up to their word and relinquished claim to the stake in Mercedes AMG PETRONAS Formula 1 team.

It can now be said that Daimler owns the team completely as it now controls maximum percentage of shares as team Principal Ross Brawn sold his 24.9 percent stake back to Mercedes in 2011. Buying back the team will allow the company to build up its team and present it to the world on a podium for all to see.

For the 2012 season, Mercedes AMG PETRONAS F1 Team finished fifth at 142 points behind Lotus-Renault at 303 points. Important news for next season is that Michael Schumacher’s retirement will pave way for new signee Lewis Hamilton, who will be a part of this team for a period of three years. Mercedes AMG PETRONAS has signed an agreement which makes it a part of Formula One’s Concorde Agreement till 2020.

Source: AutoBlog