The chief of British-based Formula 1 outfit Mercedes Toto Wolff said on Saturday the United Kingdom crashing out of the European Union without a deal would harm his business.

The chief of British-based Formula 1 outfit Mercedes Toto Wolff said on Saturday the United Kingdom crashing out of the European Union without a deal would harm his business. The default legal position is that Britain leaves the EU on October 31 unless the other 27 member states agree to a delay. Business and markets across the continent fear the shock of a sudden Brexit that even the government's own assessment says would cause economic damage. "It's clear that it will harm us in a way because our businesses live with the 'just in time' concept of product supplies," Wolff said. "But we are going to get our head around it. "As a team, we put a lot of effort into understanding what the potential impact could be and we are ready for whatsoever outcome." If the UK leaves the Customs Union, it could cause delays for the movement of freight between Britain and Europe where nine of this year's races and most of the pre-season take place. Racing Point team boss Otmar Szafnauer said his Silverstone-based outfit were "planning for the worst case, that being a no-deal Brexit." "I think we've put some plans in place to cope with that and we're hoping for the best case. "Only time will tell. But I think we’re well prepared to keep going if Brexit does happen, sooner rather than later, and there is no deal." Team staff are also likely to face uncertainty. McLaren's German team boss Andreas Seidl said he had already been given a guarantee he can stay in Britain. "As a team, we simply did our homework and prepared for every possible scenario. I'm sure that whatever happens in the next weeks and months there will be solutions in place and we will keep going racing." str/iwd/nr © Agence France-Presse

Brexit no deal would 'harm' team, says Mercedes chief Wolff

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Brexit no deal would 'harm' team, says Mercedes chief Wolff