Toto Wolff will remain as Mercedes’ team principal for at least three more seasons, after agreeing to a three-year contract extension with the Silver Arrows, according to The Telegraph.
Wolff has led the Brackley-based team since replacing Ross Brawn in 2013 – the final campaign before the turbo-hybrid era was introduced.
Under Wolff’s guidance, the Germans won eight consecutive Constructors’ Championships, from 2014 all the way to 2021.
Despite their dominance in that period, the last two seasons have been in many ways the hardest under Wolff’s leadership, raising questions as to whether a new figure is needed to lead the team.
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This clearly isn’t what the Silver Arrows’ hierarchy believe ahead of Wolff’s 12th season in charge – Wolff is a 33 per cent shareholder of the side – with the three of them believing that Wolff remaining in charge is “the best return on investment”.
“I think the most important thing between the three of us (Mercedes owners) is that we trust each other. 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’.”
If Mercedes undergo another campaign without a victory, then questions will be asked as to whether Wolff remaining in charge is the right decision.
The Silver Arrows can’t go a second consecutive season without a win, given that it’ll mean that Lewis Hamilton’s hasn’t won in three years.
There is pressure on Mercedes to deliver a competitive package in 2024, as Hamilton has put his faith in them by signing a two-year extension.
Should the German manufacturer fail to do this, then it’s Wolff who the finger will likely be pointed at as the team’s leader.
However, he’s stressed that there is no performance clause in his new deal, with him revealing that he’s “never had” one in any of his contracts with Mercedes.
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“I’ve never had a performance clause,” Wolff revealed. “You either trust each other or you don’t. And we are aligned as shareholders.”
He continued: “I’m part of this team in various functions. 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.”