Mercedes team principal Toto Wolff believes it is "important for Formula 1" Sebastian Vettel has signed a deal to stay in the sport with Aston Martin for 2021.
Wolff, who is a shareholder at Aston Martin, feels that for the sport to hold on to a driver of Vettel's calibre will prove invaluable.
Racing Point, who will become Aston Martin ahead of next season, announced Vettel's signature on Thursday after deciding to drop Sergio Perez.
Wolff told Sky Sports F1 he thought the retention of Vettel in the sport was "great news".
"I have three shares of Aston Martin so from that perspective it’s great," he added. "The German market is the second most important market.
"I think it’s great for Formula 1 that Seb stays, he is the second-most successful driver on the grid and it’s important for Formula 1 that somebody like Sebastian, who is in his prime years, doesn’t leave Formula 1.
"From the other perspective, he’s going to bring a tremendous amount of knowledge to Aston Martin.
"With Lance [Stroll], who is really improving and improving and is really at a super level now, and with the knowledge Sebastian brings, I think everybody progresses on a high tide. I think that’s going to be his contribution."
Referring to speculation on his own position, Wolff expressed his desire to remain with Mercedes but is wary of being at the helm of a potential decline.
"I want to stay with Mercedes," insisted Wolff. "I get on with Ola Källenius [Daimler board chairman] really brilliantly and I love the guys here and at Brixworth, they are just a close-knit group.
"On the other side, I would never want to go from very good to good. This is something I am thinking about."
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