Mercedes Team Principal Wolff Signs Three-Year Contract Extension

Monday, 15 January 2024 at 17:00

Mercedes Team Principal Toto Wolff revealed that he has signed a three-year contract extension with the German team based in the United Kingdom.

As a leader of one of the most successful teams in F1 history, it was always clear that Wolff wouldn't end his stay in Mercedes without another World Championship title, especially after a disappointing end to the 2021 season.

After joining the team in 2013, it was under Wolff's leadership that the team enjoyed the most success, winning eight straight World Constructors' Championships between 2014 and 2021.

In recent seasons, the German team struggled to achieve the same results, but it's Wolff who wants to lead the team to another successful season filled with victories and success.

As part of his commitment, he has extended his contract with Mercedes until the end of the 2026 season, and Wolff revealed it himself when talking to The Telegraph during a recent interview.

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For Wolff, the decision is obviously closely tied with a desire to win, but at the same time, as a shareholder, the 52-year-old wants to make sure he gets his money's worth, and who else should take care of that then he himself?

"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."

The best thing for Wolff is that he feels like he can not burn out. Instead, the German has problems with boredom, and that's why he keeps himself busy.

"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."

He'll certainly be busy in the seasons to come, as Mercedes will want to return to the title fight, but with Red Bull so far ahead, it will be difficult for Wolff and his team to catch up with their Austrian competitor.