F1 Rumor: Toto Wolff Set to Leave $7.5M Deal Behind for Lucrative Sponsor Upgrade

How the tables have turned for Mercedes in 2024. Despite struggling to contend for wins since the onset of the new ground effect regulations, the Silver Arrows were still able to fight for a respectable 2nd or 3rd in the constructors’ championship in ’22 and ’23, with the goal to take a forward step in ’24. However, things couldn’t have turned out any worse for the Brackley-based outfit. First, they lost Lewis Hamilton to a rival team, Ferrari, which was a big blow because Lewis was sure to take away a few major sponsors along with him. But then their hopes to move forward in the field were also crushed as they are now left grappling for 4th or 5th best team on the grid.

And recently, Mercedes got another enormous blow by losing their major sponsors, Tommy Hilfiger and Puma. Hamilton’s association with Tommy Hilfiger and Puma has been lucrative for both him and the Mercedes team. Serving as a global ambassador for Tommy Hilfiger since 2018 and signing a deal with Puma in 2017, Hamilton’s influence extended beyond the racetrack, boosting the team’s commercial success. With Hamilton’s impending departure, Mercedes now faces the daunting task of not only finding a new driver to fill in his shoes but also finding new sponsors as well.

Fortunately for Mercedes, recent reports are suggesting that Toto Wolff has done exactly that by bringing in a new sponsor in Adidas. Reports from the British press suggest that Adidas might become one of Mercedes’ new main partners. This potential deal with Adidas could mean big things for Mercedes. Currently, Mercedes earns about 6 million pounds a year (around $7 million) from combined sponsorships with Puma and Tommy Hilfiger. But if Adidas comes on board, that number could go up.

The report from Daily Mail as per FormulaPassion.it, suggests that the Adidas partnership is set to bring in tens and millions of dollars, providing a big boost to Mercedes’ finances. This arrangement not only benefits Mercedes but also offers a strategic opportunity for Adidas, following the loss of their contract with the German soccer team.

READ MORE: Toto Wolff Admits: Not Signing Max Verstappen in 2014 Caused Uncertainty Over Lewis Hamilton’s Current Contract

Finding a new sponsor is just one of the many hurdles the Brackley squad has passed. There are still ways to go for the team.

Toto Wolff is going all in to secure the services of Max Verstappen

Despite securing a new sponsor, Mercedes still faces the challenge of finding a worthy successor to Hamilton. And Toto Wolff has been making no secret of his interest in Max Verstappen, even going as far as saying he’s the top choice to join forces with George Russell next season. Verstappen, currently tied to Red Bull until 2028, has found himself in the middle of some off-track drama lately. Issues between his father Jos and Red Bull team principal Christian Horner, along with speculations about the team’s future direction, have fueled talks about Verstappen’s potential departure.

Speaking to Fox Sports Australia during the Australian GP weekend whether Verstappen is his top pick, the Austrian said, “Yes. You see what his performance levels are. But I wouldn’t want to discount the other ones, too. We’ve got to look at ourselves and say, ‘What is it that we can do with this car?’ And then it becomes much easier for whoever drives the second car, much easier for George because he has the potential of being a world champion.”

Whether Mercedes will be able to acquire Max Verstappen will depend a lot on how much they can improve their car in the coming few months. Can the Silver Arrows pull it off? What are your thoughts on the matter?