Mercedes F1 team ready to open contract talks with Lewis Hamilton

Amid the heat of the title battle between Hamilton and team-mate Nico Rosberg, Mercedes agreed to hold fire on contract talks until the championship was over.

With Hamilton now having triumphed thanks to his victory in the Abu Dhabi Grand Prix, discussions are expected to start in the next few weeks to start working towards a contract extension beyond 2015.

Mercedes boss Toto Wolff says, however, that there is unlikely to be an instant agreement - although that does not mean there is any intention on Mercedes' part to pursue any other drivers.

"It is never easy because it is a decision with consequences for the driver, for Lewis and for us," he said.

"Stability is a very crucial ingredient for us and the team, which is why we are sitting down to discuss the future.

"It is clear that Lewis feels at home at the team. The car is the most competitive now and so we've ticked two boxes, but equally it is never easy to find all the terms to make it happen.

"We would love Lewis to stay in the team. He has been an incredible part in the development of the rise of the team and we would like him to stay - and I think he wants it too.

"But it's not just a case of a couple of hours and ticking the box. It requires a reflection and discussion."

LAUDA: IT WILL GET DONE

Niki Lauda, Mercedes' non-executive chairman, was adamant that the contract with Hamilton should be sorted before Christmas.

When asked if he could foresee any problems in the two parties coming towards an agreement, Lauda said: "No, not at all.

"We are going to do this in the next two weeks. He's happy, we're happy. I don't see any issues."