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

Racing star feared Danica Patrick was going to punch him in angry confrontation

• 1 hour ago

Mercedes F1 catastrophe? Toto Wolff hits back and says to think again

• 2 hours ago

Lewis Hamilton handed F1 title boost as Ferrari upgrade set to deliver significant power gain

• 2 hours ago

F1 boss denies move for F2 phenom - but admits 'things can change'

• Today 19:44

Victim of F1's weirdest ever crash announces racing retirement

• Today 18:43

Ex-FIA steward slams Max Verstappen fan abuse as Lewis Hamilton accusation addressed

• Today 17:32