Lewis Hamilton is set to stay on at Mercedes for 2021 with Toto Wolff confirmed to continue with the F1 world champions. Hamilton will look to become an eight-time title winner next year and break the record of Michael Schumacher.
Wolff will stay on for three years but then have the chance to transition to an executive function in the organisation.
Mercedes tweeted: “We’re delighted to confirm that Toto will lead the team for a further three years!”
The news comes on the back of team partner Ineos is taking a one-third stake in the team.
They are now equal shareholders with Daimler and Wolff himself.
The news that Wolff has signed would seem to indicate Hamilton will stay with Mercedes into 2021 and beyond with the two having a close relationship.
Mercedes also teased an announcement regarding the F1 world champion last night on social media.
Hamilton has previously indicated he wishes to stay and has aspirations to achieve even more with the Silver Arrows.
“Hopefully over the next couple of weeks. I would love – we would love – to get it done before Christmas, I think,” said Hamilton after the Abu Dhabi Grand Prix.
“I plan to be here next year; I want to be here next year. I think us, as a team, have more to do together and more to achieve both in the sport but even more outside the sport I think.
“So yeah, I hope we can begin this week, discussions, and hopefully get it tied up before Christmas.
Mercedes chief Wolff has also confirmed it will happen.
“It is going to happen,” said Toto Wolff of a new deal.
“There is no reason it is not going to happen.”
Hamilton will look to become an eight-time F1 world champion in 2021 and set a new benchmark in the sport.
His Mercedes team-mate Valtteri Bottas will remain but is under pressure for 2022 with George Russell impressing.
The Williams driver stepped in for Hamilton when he tested positive for coronavirus and missed the Sakhir Grand Prix.