"He was really, really upset" - Former Mercedes AMG engineer says Toto Wolff contemplated selling his shares and quitting F1

A former Mercedes engineer and Toto Wolff's friend has confirmed that the Austrian billionaire considered quitting Formula 1 a few years ago.

Wolff left Williams F1 and joined Mercedes in 2012 as the executive director of the German giant's Formula One team. He also acquired a 30% stake in the team — which later increased to 33%.

He has had immense success with the team, winning multiple Drivers' Championships and Constructors' Championships and turning his outfit into the sport's most successful team in the recent past.

While most team principals on the grid are merely in a management position and do not have a personal stake invested in the team, Wolff owns a third of his team, which isn't surprising as he began his career as a financier.

Hans Werner Aufrecht, a former Mercedes AMG engineer and friend of Wolff, has revealed that the 51-year-old came very close to selling his shares and quitting F1 at the end of 2019. Aufrecht said (via Nextgen Auto):

"He was really, really upset. He said, 'What should I do? And what am I doing and why?' I told him: 'Toto, it's your life. You have to do what you want deep down."

Wolff confirmed this and explained why he changed his mind, saying:

"We said: 'We want to stay like this', Mercedes and me. Because ultimately this team goes far beyond a simple investment for me."

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Mercedes boss Toto Wolff remains cautiously optimistic ahead of 2023 season

Toto Wolff remains cautiously optimistic about Mercedes' chances ahead of the 2023 Formula 1 season. The team had a difficult 2022 campaign, where they won just one race and saw their eight-year Constructors' Championship winning streak come to an end.

While the Austrian team principal is positive about the team's chances, he isn't expecting them to be pushing Red Bull Racing and Scuderia Ferrari from the get-go. He said:

"We have no doubt, when you are starting behind by half a second, it's going to be difficult to catch up to great organisations like Red Bull and Ferrari. Having said that, we are super determined in doing just that, but we need to set our expectations at a realistic level."

He added:

"If we perform in the way we hope, then we'd like to be part of the racing at the very front. I think that would be a starting point, but we don't take that for granted. It could well be that the gaps are like they were at the end of last season."