Official: Mercedes to stay in F1
“We look into our Formula One commitment every year. But even if we dropped out of Formula One now, we wouldn’t be saving a cent because the contracts are long-term," Daimler’s chief financial officer Bodo Uebber said Tuesday.
Mercedes supplies engines to the McLaren, Brawn and Force India teams.
Uebber said the car company had “no sacred cows," indicating that a future pullout from Formula One could not be ruled out.
Helmut Lense, Daimler’s labor union leader who has a seat on the board, said last week the company should pull out of F1 because of the financial crisis. He said employees did not believe the company should support a racing team while they are being ask to make sacrifices.
Lewis Hamilton won the Formula One championship last season in a McLaren-Mercedes car. But the team has been struggling this season and faces a hearing in Paris on Wednesday on charges of bringing the sport into disrepute.