Hamilton contract figures nonsense according to Wolff

Toto Wolff has dismissed speculation in the media regarding the retainer Mercedes has agreed upon with Lewis Hamilton to secure a prolongation of the British driver's services.

The German insisted rather on the long-term nature of the agreement which spans three years and aptly proves both parties quest for stability and constancy.

"The discussions around the contract have been out there for quite a while," commented Wolff. "We had the terms already a couple of weeks ago and declaring that it was a three year term seemed reasonable to us, in order to show that it’s a long term relationship and stability is important for us. On the figures out there, I can’t really comment. The only thing I can say is that there have been lots of nonsense out there as well."

Wolff was put to task by a journalist remarking, rather foolishly, that Hamilton would allegedly be earning in the next three years about five times as much as Mercedes-Benz's own CEO, for working ten percent of the time based on speculation Hamilton's contract is worth 33 million pounds a season.

But Wolff responded accordingly: "I can’t even comment on that question. This is a market and in that market you have a value or you don’t. Lewis is one of the best racing drivers out there, maybe the best at the moment and he has a huge value for the brand and fundamentally this is what drives his value and this is a classical win-win situation for the team and for himself."

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Phillip van Osten

Motor racing was a backdrop from the outset in Phillip van Osten's life. Born in Southern California, Phillip grew up with the sights and sounds of fast cars thanks to his father, Dick van Osten, an editor and writer for Auto Speed and Sport and Motor Trend. Phillip's passion for racing grew even more when his family moved to Europe and he became acquainted with the extraordinary world of Grand Prix racing. He was an early contributor to the monthly French F1i Magazine, often providing a historic or business perspective on Formula 1's affairs. In 2012, he co-authored along with fellow journalist Pierre Van Vliet the English-language adaptation of a limited edition book devoted to the great Belgian driver Jacky Ickx. He also authored "The American Legacy in Formula 1", a book which recounts the trials and tribulations of American drivers in Grand Prix racing. Phillip is also a commentator for Belgian broadcaster Be.TV for the US Indycar series.

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