Team confident world champion will sign new contract Wolff extends CEO role at Mercedes for further three yearsLewis Hamilton has been described as one of the greatest drivers of all time by Mercedes, who consider him essential to their future as they revealed an ownership restructuring. Hamilton has yet to renew his contract with Mercedes but the team principal Toto Wolff, who is to extend his role as principal and CEO at the team for at least a further three years, stated he was confident that a new contract with Hamilton will be signed even if it takes up until pre-season testing in 2021.
The team announced on Friday that the chemical company Ineos has bought a one-third share in Mercedes. Ineos, chaired by Sir Jim Ratcliffe, became a partner sponsor of Mercedes in February this year and the team will now be owned in three equal parts by Daimler, Wolff and Ineos. Daimler have reduced their 60% share and Wolff has marginally increased his 30% share. The remaining shares were made up from the 10% previously owned by Niki Lauda.