Accordi꧂ng to , Wolff will remain in charge of the F1 team until the end of 2026.

He has enjoyed unprecedented success since joining Mercedes in 2013, winning seven drivers’ and eight constructors’ champion𝕴ships.

However, the last two years have been less fruitful for Mercedes, picking up jus♊t one race win since the start of 2022.

Despite their lack of current success, Wolff ꦐremains motivated to take Mercedes back to the front of F1.

Explaining why he decided to sign another contract extension, W💯olff said: "I think the most important thing between the three of us [Mercedes owners] is that we trust each other. At the end of the day, as a shareholder myself, I want the best retꦚurn 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 oth⛎erwise. In the end, the three of us decided: ‘Let’s do it again’."

Wolff revealed there’s no “performance clauses🦂” in his contract.

"I’ve never had a performance c🀅lause. You either trust e💦ach other or you don’t. And we are aligned as shareholders," he added.

"I’m part of this team in various functions. I’m a co-shareholder. I’m on the board. These are things which will not change whatever executiv♔e, 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 embღrace the challenges we have today, even though they sometimes feel very, very difficult to manage.”