Wolff signs new multi-year contract with Mercedes

Toto Wolff has signed a new multi-year deal with Mercedes to remainas Team Principal, RacingNews365 understands. The deal is believedto be a three-year extension, which will see Wolff remain at thehelm of the Mercedes outfit. The Austrian is the second-longestTeam Principal currently holding the role in F1, only trailing RedBull's Christian Horner. Wolff, who joined Mercedes in 2013, owns a33 per cent stake in the squad and led the team during its dominantrun in the turbo-hybrid era. Mercedes won every championship onoffer from 2014 to 2020 under Wolff's leadership to forge itself asone of F1's most successful teams, as well as the 2021Constructors' title. However, since the introduction of newtechnical regulations in 2022, Mercedes has slipped back in thepecking order, failing to grasp the ground effect regulations. Ithas emerged victorious in just one Grand Prix across the last twoseasons, finishing third and second in the 2022 and 2023Constructors' Championships respectively. Last year, Mercedesannounced that it had extended the contracts of Lewis Hamilton andGeorge Russell until the end of the 2025 campaign. Now, Wolff'scommitment has been sealed as it aims to return to title-contendingcompetition in the near future. Mercedes' campaign this year willget underway when it launches its 2024 car, named the W15, onFebruary 14 from the Silverstone Circuit.