Daimler gains full control of Mercedes F1 team after buying out Middle Eastern stake
Pending approval from the regulatory authorities, the German company will fully control its F1 team (team principal Ross Brawn had owned 24.9-percent of the team but sold it to Mercedes in early 2011). The amount paid for the stake hasn't been disclosed.
Daimler can now focus on getting the team where it wishes to be, which is not down in fifth place fighting with Sauber and with less than half the points of fourth-placed Lotus. The team rebranded itself Mercedes-AMG this year, has committed to Formula One's Concorde Agreement until 2020 and signed Lewis Hamilton for three years. It will want to begin extracting added value for the hundreds of millions of dollars it has already invested and the hundreds of millions more it knows are required.
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