Wolff takes a financial hit after Hamilton’s departure: ‘You will miss that part’

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Wolff takes a financial hit after Hamilton's departure: 'You will miss that part'

The departure of Lewis Hamilton to Ferrari also has financial consequences for Mercedes, team boss Toto Wolff admits. The value of the Scuderia has risen by as much as £5.5 billion since Hamilton’s announcement. The British driver has signed a multi-year contract.

“Lewis stands for much more than just a racing driver,” Wolff told CNBC. ‘He is a global phenomenon. And it’s clear that at first glance, if you look at it, we’re going to miss something after 2024. You will miss that part,” said Wolff, when asked whether they would experience financial consequences after Hamilton’s departure.

New era Mercedes

Without Hamilton, Mercedes is starting a whole new era. “But a Formula 1 team like Mercedes… we have to have our own identity and we will always keep that in the future,” says Wolff. “We hope to be part of the careers of many young and successful drivers in the future.”

Wolff has a good feeling about his collaboration with Hamilton. ‘We will look back fondly on how fantastic that trip was and how we grew together. “I think it’s important to remember that we are Mercedes’ Formula 1 team.”

‘More than anyone else’

“We have had a sensational period that has never been seen before with Lewis,” Wolff continues. ‘We managed to win more championships and more races than anyone else. And now it’s about determining what the next step is after 2024,” Wolff concludes.

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