F1 News, Reports and Race Results

Wolff commits to new multi-year Mercedes F1 contract

Toto Wolff has revealed that he has reaffirmed his commitment as team principal to the Mercedes F1 outfit for an additional three seasons.

The decision signifies Wolff's unwavering dedication to leading Mercedes back to the pinnacle of the sport.

Wolff announced his new multi-year deal in an exclusive interview with The Telegraph, in which he revealed signing a recent agreement with his fellow shareholders, INEOS owner Jim Ratcliffe and Mercedes-Benz CEO Ola Kallenius.

The three parties have recognized the importance of stability in management as Mercedes strives to regain its championship dominance.

"I think the most important thing between the three of us is that we trust each other,” commented Wolff.

"At the end of the day, as a shareholder myself, I want the best return on investment. And the best return on investment is winning.

"I'm not going to try to hang on to a position that I think somebody is going to do better than me. I make sure that I have people around who can tell me otherwise. In the end, the three of us decided: 'Let's do it again'."

Mercedes, which dominated Grand Prix racing for almost a decade, was caught out by the introduction in 2022 of F1’s new ground effect regulations, a failure that has left the team with just a single win under its name – courtesy of George Russell in Brazil in 2022 – in 44 races.

Despite its depressed track record and regardless of what the future will deliver, Mercedes has not inscribed a performance clause in Wolff’s management contract, thus sending a clear message of confidence in its team principal.

"I've never had a performance clause," Wolff said. "You either trust each other or you don't. And we are aligned as shareholders."

"Wolff believes that the most significant challenge he faces is maintaining motivation in the face of easy success, rather than succumbing to frustration and walking away in the event of a lack of improvement."

Wolff conceded that the most difficult part of maintaining his motivation is to avoid becoming complacent and to always seek out new challenges and areas for growth.

"I'm part of this team in various functions," he added. "I'm a co-shareholder. I'm on the board. These are things which will not change whatever executive, or non-executive, role I have. But I feel good.

"The risk for me is always more bore-out than burnout. And that's why I embrace the challenges we have today, even though they sometimes feel very, very difficult to manage."

Keep up to date with all the F1 news via Facebook and Twitter

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.

Recent Posts

Leclerc confident Ferrari ‘has a shot’ at F1 Constructors’ title

Charles Leclerc believes that Ferrari has a genuine “shot” at beating rival McLaren to Formula…

51 mins ago

Komatsu: F1 teams united against Audi 2026 cost-cap offset

Haas team principal Ayao Komatsu has revealed that nine Formula 1 teams stand in opposition…

2 hours ago

Las Vegas GP: Hamilton leads Mercedes 1-2 in trouble-free FP1

Lewis Hamilton and George Russell led the field in a chilly but trouble-free first practice…

3 hours ago

2024 Las Vegas Grand Prix Free Practice 1 - Results

Full results from Free Practice 1 for the Las Vegas Grand Prix in the United…

3 hours ago

Aston Martin says performance shortfall led to Fallows exit

Aston Martin performance director Tom McCullough has shed some light on why the team’s former…

13 hours ago

FIA clamps down on plank loophole after Red Bull complaint

The FIA has issued a pivotal Technical Directive to F1 teams ahead of this weekend’s…

14 hours ago