Wolff signs new multi-year contract with Mercedes

Toto Wolff has signed a new multi-year deal with Mercedes to remain as Team Principal, RacingNews365 understands.

The deal is believed to be a three-year extension, which will see Wolff remain at the helm of the Mercedes outfit.

The Austrian is the second-longest Team Principal currently holding the role in F1, only trailing Red Bull's Christian Horner.

Wolff, who joined Mercedes in 2013, owns a 33 per cent stake in the squad and led the team during its dominant run in the turbo-hybrid era.

Mercedes won every championship on offer from 2014 to 2020 under Wolff's leadership to forge itself as one of F1's most successful teams, as well as the 2021 Constructors' title.

However, since the introduction of new technical regulations in 2022, Mercedes has slipped back in the pecking order, failing to grasp the ground effect regulations.

It has emerged victorious in just one Grand Prix across the last two seasons, finishing third and second in the 2022 and 2023 Constructors' Championships respectively.

Last year, Mercedes announced that it had extended the contracts of Lewis Hamilton and George Russell until the end of the 2025 campaign.

Now, Wolff's commitment has been sealed as it aims to return to title-contending competition in the near future.

Mercedes' campaign this year will get underway when it launches its 2024 car, named the W15, on February 14 from the Silverstone Circuit.