F1 News: Wolff reveals BUSINESS impact on Hamilton Mercedes exit

Toto Wolff cuts a forlorn figure getting out of a car wearing Mercedes gear — Photo: © IMAGO

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Wolff reveals BUSINESS impact on Hamilton Mercedes exit

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

By Tyler Rowlinson.

Thursday 15 February 2024 23:57

Toto Wolff has opened up on how the business side of the Mercedes F1 operation will adapt to the departure of Lewis Hamilton.

The Brit's decision to make the move to the Italian squad at the end of the upcoming season has far-ranging implications, including its knock-on effect on the rest of the grid and Mercedes' business ventures.

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.

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And 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.

“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 Mercedes Toto Wolff