Toto Wolff has confirmed that Mercedes are set to suffer a financial blow when Lewis Hamilton leaves at the end of the year.
Sponsors are expected to pull the plug as the marketability of the team decreases.
Wolff is the part-owner as well as the boss of Mercedes’ F1 team, and when asked whether they would be financially impacted by Hamilton’s exit, he told CNBC: “Absolutely, Lewis stands for much more than just a racing driver.
“He’s a global phenomenon. And it’s clear that at first sight, when you look at it, we’re going to miss out on a bit after 2024. You’re going to miss that part.
“But a Formula One team like Mercedes… we need to have our own identity and we always will have that in the future. We hope to be part of the career of many young drivers and successful drivers going forward.
“We will look back with a warm heart of how fantastic that journey was, and how we’ve grown together. I think it’s important to remember that we’re the Mercedes Formula One team. We’ve had a sensational spell that has not been done before with Lewis, more than 10 years, we’ve won more championships and more races than anybody else. And now it’s about identifying what’s going to be the next step beyond 2024.”
