Money "never a problem" between Hamilton and Wolff

Mercedes Formula 1 boss Toto Wolff has revealed that "money was never a problem" with regard to contract talks with Lewis Hamilton.

Hamilton's current £40million-per-year deal expires at the end of this year, with the 35-year-old almost certain to put pen to paper again with Mercedes on what he recognises could be the final agreement of his F1 career.

When Wolff and Hamilton sat down to thrash out the terms of that extension two years ago, it was done over a period of 10 hours - and a pizza - in the latter's Monaco apartment.

Wolff appreciates that as a 30% owner of the F1 team, then whatever new figure Hamilton is paid, that "30% comes from me, I know!"

Hamilton's plan to be a life-long partner with Mercedes is "super appealing"Read more

Weighing up the pros and cons of any future discussion, Wolff told Sky Sports: "We have that respect. I know what contribution Lewis brings to the team as a driver and as a brand, and you always need to respect that.

"A sportsperson has a shelf life, and I totally acknowledge that as a racing driver you could probably go on until you're 40, at your peak.

Hamilton: Toto Wolff and I have disagreements, but we trust each otherRead more

"And then I've no doubt, with Lewis there will be another career, whatever that may be, and that's why I respect that there needs to be a financial component that is important. This is about putting money aside for the ventures in the future."

On the flip side, Wolff added: "Lewis knows the limitations of the team and where we need to put the money, that [parent company] Daimler is not in an easy situation today, and that's why almost with any kind of discussion we know where it's going to end.

"Money was never a problem."

READ MORE: F1 2020 Driver Salaries - who gets paid what?

Related

More F1 news

Latest F1 news

F1 News Today: Lewis Hamilton launches Charles Leclerc attack as FIA stewards explain crucial decision

• 39 minutes ago

F1 champion Max Verstappen hails 'unbelievable' driver for saving rival star's life

• Yesterday 22:29

FIA stewards explain decision over George Russell Italian Grand Prix investigation decision

• Yesterday 21:45

Lewis Hamilton piles blame on Charles Leclerc after Ferrari chaos at Italian Grand Prix

• Yesterday 20:58

F1 champion Nico Rosberg says Charles Leclerc deserved penalty for Lewis Hamilton incident

• Yesterday 19:55

Max Verstappen claims broken Italian Grand Prix track nearly put him out of the race

• Yesterday 18:55