Formula 1 News: Wolff re-signs with Mercedes for 3 years

(GMM) Toto Wolff has signed a new 3-year contract to remain in charge of the Mercedes F1 team he co-owns until at least the end of 2026.

Bild newspaper, the specialist Auto Motor und Sport and Italy’s La Gazzetta dello Sport say the 52-year-old Austrian, with a one-third share of the Formula 1 team, has signed a new contract.

“I’m staying here at least until 2026,” La Gazzetta dello Sport quoted Wolff as saying.

Auto Motor und Sport, however, said the Brackley based team was yet to officially confirm the news. Wolff co-owns Mercedes along with the German carmaker as well as Ineos boss Jim Ratcliffe, with all three parties holding 33.3 percent.

“In the end, the three of us decided ‘Let’s keep going’,” the Austrian is quoted as saying.

Mercedes’ 2024 car will be officially launched on 14 February, and Wolff said simulator driver Anthony Davidson is confident it is better than the ill-fated 2022 and 2023 machines.

“He said that for the first time in two years, the car feels like a real car,” Wolff said.