Toto Wolff insists he is still ‘having fun’ with Mercedes despite the team’s current lean spell and is willing to remain as its team principal.

Whilst the spotlight might be on Lewis Hamilton and whether the seven-time F1 champion will commit to another extension after being with Mercedes for a decade, Wolff’s own contract is up for renewal at the end of the year.

In 2020, Wolff considered his position, declaring the job to be taking a toll, leading to what he described at the time as “a moment of reflection”, even in a period when Mercedes was winning title after title.

The culmination was that in December of that year, Wolff signed a new three-year deal. The Austrian also became an equal stakeholder in the team alongside Mercedes’ parent company Daimler and chemical giant Ineos, founded by Sir Jim Ratcliffe.

Asked by Speedcafe whether he was entrenched in his position to lead Mercedes out of its malaise, Wolff replied: “Whether it’s good or bad, I really enjoy being the team principal of this team. I think I can contribute.

“But if one day I come to the conclusion – or people that are close to me are going to tell me that I’m not (contributing) – then I will consider giving the baton to somebody else. I would have no shame in that.

“Then I’d criticise from the sidelines, from a TV screen, and know it better but until then, I think I still have fun doing it.

“Obviously, turning a ship around after so many successful years, that’s really a good challenge, enjoyable.”

Wolff has full support from Daimler and Ineos

Wolff is in the unusual position of being a main shareholder and a team principal, and appreciates results on track – for which he is primarily responsible – play a significant role in his other business.

The 51-year-old is also answerable to Ola Källenius, chairman of Daimler’s management board, and Ratcliffe.

As to how they are feeling with the team’s form at present, Wolff said: “The people in charge at Mercedes and Ineos are high-performance individuals, be it in their core business or in sports.

“We have all been through ups and downs, and there is not a millimetre of doubt….or there is so much support from them in order to get us back on track.

“We couldn’t wish for better support from either Jim or Ola and all the others that are associated with this.”