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Mercedes team principal Toto Wolff has agreed to a three-year contract extension with the Formula 1 team.
The deal runs through 2026 for the 52-year-old Austrian, who joined Mercedes in 2013 and owns a third of the team.
There had been speculation about Wolff’s future after a second straight disappointing season that included just one victory.
Wolff said the decision to maintain his role as team principal came after conversations with co-owners Jim Ratcliffe and Ola Kallenius.
“I think the most important thing between the three of us is that we trust each other,” Wolff said. “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. In the end the three of us decided: ‘Let’s do it again’.”
Lewis Hamilton and George Russell will continue as the team’s drivers in 2024 after signing two-year contracts.
