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Toto Wolff has signed a three-year deal to stay on as the team principal and chief executive of Mercedes F1.<\/b><\/p>\n
Wolff, who owns a third of Mercedes F1, told the Telegraph, external<\/span><\/a> that he has extended his contract until the end of 2026.<\/p>\n Mercedes won eight constructors’ titles in eight seasons between 2014 and 2021 and finished second behind Red Bull in 2023.<\/p>\n “I’m not going to try to hang on to a position that I think somebody is going to do better than me,” Wolff said. <\/p>\n “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’.”<\/p>\n Wolff, 52, has been with Mercedes since January 2013.<\/p>\n The team is equally owned by Mercedes-Benz, Austrian Wolff and a subsidiary of Ineos, which is controlled by Manchester United investor Sir Jim Ratcliffe.<\/a><\/p>\n Mercedes’ Lewis Hamilton finished third in the drivers’ championship last season but the team has won only one race since 2021.<\/p>\n The 2024 F1 season begins with the Bahrain Grand Prix, from 29 February-2 March.<\/p>\n<\/div>\n