Lewis Hamilton suggested after Sunday's Spanish Grand Prix that a new deal with Mercedes could be signed and sealed as soon as the following day.
Hamilton is due to meet with Wolff on Monday to further discuss, and perhaps finalize, his likely future with Mercedes.
It is believed that the seven-time world champion is seeking a two-year deal with the German outfit worth a rumored $100 million!
"Well, I haven't signed anything yet, but I think we're going to meet with Toto tomorrow. So hopefully, we can get something done," the Briton said after Mercedes' double podium finish in Barcelona.
"I think we just need to get time to sit over coffee. That's going to take half an hour," commented Wolff when queried on the situation by Sky F1 consultant Nico Rosberg.
©Mercedes
An agreement would end the wave of outlandish speculation surrounding Hamilton's future in F1 and put to rest rumors of a sensational transfer to Ferrari.
Regardless of when a deal is signed, Hamilton says the relative uncertainty is having no bearing on his performance out on the track.
"Well, you can see today: my results, my performance is not affected by that," he explained.
"I think it's always something that's at the back of your mind, so once this is done, then you're able to then focus more about the future.
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"But as I said, I'm working as hard as I can with this team. And I see so much strength within a team, I think they are still so hungry.
"The podium today was really, really special; to be able to see the excitement in all the people that I've worked with such a little time.
"When we go back right now, there'll be great energy within the office. But these guys just don't take two seconds to enjoy themselves and be happy.
"And then they'll be back down into the books, trying to figure out how we can win the next race. That's what I love about them."
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