F1 News: Aiming to Fulfill Lewis Hamilton’s ‘Unfinished Story’, Toto Wolff Signs 3-Year Contract for Mercedes’ Comeback

Mercedes has been a classic example of ‘the bigger they are, the harder they fall’ in the past two seasons in Formula 1. This undesirable scenario made the future of Lewis Hamilton uncertain with the Brackley outfit as well. However, the Brit showcased loyalty and kept his faith in the team by renewing his contract until 2025. With the seven-time world champion locked in, the last position to secure was the boss’ and the team has done just that with the contract renewal of Toto Wolff.

The Mercedes F1 team’s TP and part owner renewed his role for three additional years until the end of 2026. Many raised the question if Wolff will delegate the TP role and take a step back from the day-to-day of the team. However, for the Austrian, his position in that team was never in doubt in his mind.

Toto Wolff reveals his dedication toward the team after the contract renewal

Wolff has been as dedicated to his job as when he first took on the reigns in 2013. The only thing that has changed is his investment in the team. Because of his one-third share in the team with INEOS and Mercedes-Benz, the Austrian has crossed the billion-dollar mark. Now, looking to the future, he wants to bring Mercedes to the top and help Hamilton complete his ‘unfinished story’ in the process. He renewed his contract with self-belief and the trust of everyone, especially the other two stakeholders.

“I think the most important thing between the three of us (INEOS and Mercedes Benz) is that we trust each other,” said Wolff, as quoted by Sky Sports.

“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’,” he concluded.

Read More: After Finalizing New Contract With Toto Wolff, Lewis Hamilton Gives Brutally Honest Review of Mercedes’ Future Plans

The intent is there, and the team has the resources as well. However, Mercedes needs to take a hard look at within to rectify some of the errors they’ve made in the past couple of years.

Lewis Hamilton takes command of the mission to rectify errors that held Mercedes back in the past two seasons

The new regulations changed Mercedes’ life in Formula 1. The poor iteration of the 2022 regulations translated into a car that was nowhere close to the competition. Because of this, the 2023 challenger also suffered as a poor Lewis Hamilton kept complaining. Although his complaints did put Mercedes on the right path, it wasn’t enough to help them fight Red Bull.

Heading into the 2024 season after renewing his contract, Hamilton will lead the mission to rectify the errors and ensure the 2024 car is at least competitive enough to give him a fighting chance.

Speaking to the media, Hamilton said, “At the end of the year we’ll – Bono and I, and Shov – we’ll go through a list of things that worked and which didn’t work and just be honest. Like: ‘We keep doing this, this does not benefit my weekend at all’. Take that off and it gives you more time to focus on other areas or you add more things in which can benefit the team as a whole.”

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Drawing on a blank canvas is perhaps the only approach Mercedes can take at the moment. Let’s hope the boss can also put in his valuable input and ensure a turnaround in the next three years.