Mercedes team principal Toto Wolff found himself on the receiving end after defending the sport for $4,000,000,000 worth of selfish reasons after a mishap during the Las Vegas Grand Prix on Thursday. The Austrian defended F1 despite a manhole cover mishap damaging Carlos Sainz’s Ferrari car and endangering the safety of the driver.
After hearing Wolff’s remarks, Youtuber Tom McCluskey, also known as Tommo F1, took to X and wrote, “That 4 billion dollar valuation of Mercedes F1 Team is intrinsically linked to the valuation of F1 as a whole. And F1 have spent a LOT on this race. Toto’s business owner brain got the better of him on this one, IMO“.
Tommo’s frustrations did not end there with F1 as he went on to express his surprise with the management failing to test drain covers before the Grand Prix event. Another reason why he is furious is because F1 held the second practice session behind closed doors despite fans spending a huge amount of money to watch the event.
That 4 billion dollar valuation of Mercedes F1 Team is intrinsically linked to the valuation of F1 as a whole. And F1 have spent a LOT on this race… 👀
Toto’s business owner brain got the better of him on this one, IMO.
It’s objectively a clanger. These cars suck, literally.… https://t.co/xaptWVDvJi
— Tommo (@TwommoF1) November 17, 2023
These are the reasons why Tommo believes Wolff should not defend F1 for such a mishap. “Getting aggy with the journo who made a completely valid point is a poor poor look,” concluded Tommo.
His furious remarks come after Wolff attempted his best to defend the F1 organizers despite the manhole mishap. “We’re talking about a f****** manhole cover, in the first free practice! Give some credit to the people who make this event possible, the people who made this sport bigger than ever,” said the 51-year-old during the presser.
Tommo believes that Wolff is simply using his business brain to defend F1, as the valuation of the Mercedes team is directly linked to that of the sport.
How does F1’s valuation affect Toto Wolff and Mercedes’ worth?
F1’s valuation directly affects Mercedes’ worth because the more popular the sport, the higher revenue all teams earn because of the prize money pot. Hence, if F1 were to have a negative image because of the events that transpired in Las Vegas, it would have an adverse effect on all teams.
Moreover, since Toto Wolff has a huge stake in the Mercedes F1 team, the side’s valuation will also impact him negatively. In order to avoid such a scenario, the Austrian presumably tried his best to defend the sport amid the mishap that took place in the first practice session. While Wolff defended F1, Ferrari team principal Fred Vasseur was furious.
The Frenchman said during his press conference (as quoted by Sky Sports), “We f***** up the session for Carlos and he won’t be part of FP2, that’s for sure because we have to change the chassis and set up the car. The show is the show and everything is going well but it’s unacceptable for F1 today“.
Furthermore, it is not just the events on track that have brought about criticisms for F1. In the build-up to the highly anticipated Las Vegas GP, residents of the city also expressed their complaints about how there has been an increase in traffic jams, among several other concerns, because of the Grand Prix taking place.
