Mercedes team principal Toto Wolff has renewed his contract with the team until at least the end of the 2026 Formula 1 season.
Wolff also owns one-third of the team.
The Austrian manager joined the team in 2013, improving their performance and securing success, winning multiple constructors’ and drivers’ championships.
Wolff told The Telegraph about his business relationship with Mercedes chairman Ola Kallenius and Ineos CEO Jim Ratcliffe, the remaining two companies that own a majority of the team.
“I think the most important thing between the three of us is that we trust each other,” he said. “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 decide: ‘Let’s do it again’.”
Mercedes has been struggling since the introduction of the new technical regulations that allowed Red Bull to become the grid’s leader. However, Wolff is hopeful they will come back to their winning ways.
“I think the regulations, how they were laid out a few years ago, we interpreted them in a very conservative way. And we’ve seen other teams doing it differently.
“So watch this space. I think it’s going to be very different.”