While Bottas' seat is most likely the one up for grabs, Wolff is also mindful of another of his contracted drivers waiting in the wings for his chance in George Russell, currently in the second season of a three-year deal with Williams.
Acknowledging "a German driver in a German car is a good marketing story", speaking to Austrian television station ORF, Wolff added: "We have a driver squad and we have always been loyal in the first place, evaluating first of all whether our current drivers stay with us or not.
"Then, of course, there is the question of the juniors. You can see that Red Bull with [Max] Verstappen, Ferrari with [Charles] Leclerc, McLaren also with [Lando] Norris, Renault with [Esteban] Ocon, have all signed a junior who could possibly belong to the new generation of stars in the future.
"That's why it's a question of what we do with George Russell. He is an option. And then there is also Sebastian Vettel. But I would say he is not top of the agenda because we have to focus on our own driver squad."
Wolff is also wary of rushing into making an announcement, as Ferrari and McLaren have done in signing Carlos Sainz and Daniel Ricciardo before this season has started.
"We’re certainly not putting ourselves in that position," said Wolff.
"It’s difficult to manage when you have a driver with you one year who will be in a rival team next year. What do you do with regard to innovation and learning when you know that driver can use it against you next year?
“The teams that have hastily announced things are in a difficult situation we don’t want to get into.”
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