Mercedes remains in F1 with Wolff as boss - report

Mercedes will remain in Formula 1 beyond the 2020 season and will retain Toto Wolff as team principal and CEO, according to a German report.

Wolff's position within the team has been in question for a number of weeks, however the Austrian affirmed at the end of the 2019 season that he could not imagine anywhere better for him than Mercedes. 

He has been linked with a move to Aston Martin, who will join the grid as a fully-fledged manufacturer in 2021, taking over from the Racing Point outfit.

Wolff even acquired shares in Aston martin earlier this year, however this was deemed as a personal investment.

MORE: Szafnauer sees no Aston Martin role for Wolff in 2021

Under Wolff's leadership, Mercedes is yet to be dethroned in the turbo-hybrid era, and has won all six drivers' and constructors' championships on offer since 2014. 

But it is yet to officially commit to F1 beyond the 2020 season, leading to speculation surrounding its future and the potential whereabouts of Wolff. 

A report from Auto Motor und Sport declares that Mercedes will still be on the grid for the foreseeable future and Wolff will stay on as the team principal of the team. 

The future of the sport and many of its teams remains in the unknown as the economic crisis caused by the coronavirus continues to ravage.

In an attempt to safeguard the teams, a $145 million budget cap was signed off earlier this week for 2021, which will decrease gradually until 2023, where it will remain stable at $135 million until 2025.

Mercedes is also yet to announce who will race for the team next season, as both Lewis Hamilton and Valtteri Bottas are out of contract at the end of the 2020 campaign.