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Wolff commits to new Mercedes F1 contract with no performance clauses

Mercedes boss Toto Wolff says he is fully committed to lead the Formula 1 team for another three years, with a new contract that excludes any performance clauses.

Toto Wolff, Team Principal and CEO, Mercedes-AMG

Steve Etherington / Motorsport Images

In an exclusive interview with The Daily Telegraph, Wolff has revealed that he recently agreed with his fellow shareholders to a new deal to remain at the helm at the squad until at least the end of 2026.

The three parties involved, Wolff, INEOS owner Jim Ratcliffe and Mercedes-Benz CEO Ola Kallenius, have agreed that the best way forward is to ensure that the management of the F1 squad is stable as it bids to get back to the front of F1.

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Speaking about the situation, Wolff, who owns 33% of the team, said: "I think the most important thing between the three of us is that we trust each other.

"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'."

Mercedes’ lack of success over the past season, where it has taken just one victory while rival Red Bull has grabbed back-to-back title glory, prompted talk that Wolff could be under pressure to keep his job if there was not a turnaround in the team’s fortunes.

George Russell, Mercedes F1 W14

Photo by: Jake Grant / Motorsport Images

George Russell, Mercedes F1 W14

But he insists that his future will have nothing to do with what the team delivers on track, because there is no performance clause in the contract.

"I've never had a performance clause,” he said. “You either trust each other or you don't. And we are aligned as shareholders."

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Wolff thinks the biggest risk for him is actually finding motivation to continue if success was easy, rather than getting frustrated and walking away if things did not improve.

"I'm part of this team in various functions," he added. "I'm a co-shareholder. I'm on the board. These are things which will not change whatever executive, or non-executive, role I have. But I feel good.

“The risk for me is always more bore-out than burnout. And that's why I embrace the challenges we have today, even though they sometimes feel very, very difficult to manage."

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