Toto Wolff’s reign as the debonair prince of Formula One seemed to be over. The former tech investor and amateur racer from Austria had built Mercedes into the F1 dynasty of the 2010s: eight consecutive constructors’ championships, seven straight drivers’ titles and a single-minded perfectionism that made his team the model of a modern F1 outfit. Once that era gave way to a new spell of Red Bull dominance, however, Wolff made no secret of his desire to pull back. In recent seasons, he stopped sitting on the pit wall, trading his race-day perch on the asphalt for a bank…

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