F1 News: Toto Wolff reveals Mercedes Lewis Hamilton business plan to absorb departure

Lewis Hamilton looks glum as a background of banknotes surrounds him — Photo: © IMAGO

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Wolff reveals Mercedes business plan to absorb Hamilton F1 departure

Lewis Hamilton will race one final season with the team before leaving for Ferrari

Tyler Rowlinson

Friday 16 February 2024 12:58 Updated: 13:32

Mercedes team principal Toto Wolff has outlined how the business side of the operation will cope following the departure of Lewis Hamilton.

Hamilton’s decision to make the switch to Ferrari for 2025 will mark the end of his partnership with Mercedes that has spanned over a decade, in which he won six of his seven world championships with the constructor.

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With the joint most amount of world titles, as well as the most wins, pole positions and podiums in F1 history, it is clear that the silver arrows are losing not only statistically the greatest F1 driver of all time, but also one of the most lucrative, as Hamilton brought huge financial benefits to the team with his fame and personal brand.

Now Wolff, who has worked with the Brit since the pair both joined Mercedes in 2013, has revealed how the team plans to move forward in his absence.

Lewis Hamilton will leave Mercedes for Ferrari in 2025

Hamilton won six of his seven world titles with the team

Team principal Toto Wolff has outlined how the team will cope after Hamilton departs

Wolff: Mercedes have to adapt without Hamilton

When asked by CNBC about whether Mercedes would suffer with a loss of sponsorships and merchandise sales when Hamilton leaves the team, the Austrian said: “Absolutely, Lewis stands for much more than just a racing driver. And he's a global phenomenon.

“And it's clear that at first sight, when you look at it, you're going to miss a bit after 24. You're going to miss that part.

“But the Formula One team like Mercedes, we need to have our own identity and we always will have in the future.

“We hope to be part of the career of many young drivers and successful drivers going forward.

“And we will look back with a warm heart of how fantastic that journey was, and how we've grown together.”

Wolff also outlined what he has said to the team’s other big brand partners about their future without the seven-time champion.

“I think Lewis Hamilton and Mercedes is basically the same story because we've been together for 12 years,” he added.

“But the team – we continue to be the same shareholders, I continue to run it.

“We have a very exciting... George Russell was basically going toe to toe with Lewis last year.

“So you know, you just got to adapt. Our sport is about adaptability, like in any other business, and that's something that's the lessons that I’ve tried to pass over when talking about high performance and management under pressure.”

Lewis Hamilton Ferrari Mercedes Toto Wolff silver arrows