REPORT: Daimler Shareholder Urges Mercedes-Benz To Quit F1

REPORT: Daimler Shareholder Urges Mercedes-Benz To Quit F1

Formula 1 has become a very costly business lately. The last set of measures, designed to raise more awareness on the racing show, has failed to deliver the expected results. The involvement of politics into motorsporting have further affected F1 as the numbers of fans and TV watchers is constantly dropping while the total expense is growing rapidly. The large amount of money infused by Daimler for keeping the F1 business alive in the last two years is causing tension among the shareholders of the German giant. During a recent press conference, Ingo Speich, manager of the Union Investment funding group, has urged Mercedes-Benz to take immediate action and quit Formula 1 in order to focus on the more crucial areas that help consistently grow the brand. His speech has reportedly received been received with applause, which is a clear indication of a general uniform opinion. If the newly formed MERCEDES AMG PETRONAS and Bernie Ecclestone aren't reach any terms, then it's highly possible the Germans will leave F1, despite the encouraging start of the team in the 2012 season.

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