Niki Lauda joins Mercedes F1 team in management role

With the Mercedes road car company having looked deeply at the structure and resources of its F1 team, and considered its commitment before signing a new Concorde Agreement, the outfit announced on Friday that Lauda is a play a role with the team - as was reported by AUTOSPORT earlier this week.

The three-time world champion recently acted as a go-between in the discussions between Mercedes and Bernie Ecclestone over the Concorde, and speculation about a formal role with the outfit emerged in Singapore last weekend.

A statement by Mercedes said that Lauda will "bring his extensive experience to the role of non-executive chairman of the team's board of directors, further reinforcing the strength in depth at Mercedes AMG Petronas."

Team principal Ross Brawn said that the arrival of Hamilton, allied to a staffing restructure and fresh commitment from the Mercedes board, was a promising sign for the future.

"Over the past three years, we have been putting in place the foundations and building blocks that are needed to compete regularly for the world championship," he said.

"Behind the scenes, we have assembled a team that is technically stronger, more experienced and better resourced, thanks to the support of Petronas and all of our loyal team partners.

"The potential is now there to match any other team on the grid, which is the minimum standard for a Mercedes-Benz works team. Our task is now to translate that potential into on-track performance for next season and beyond."