Toto Wolff signs 3-year extension to try and put Mercedes back atop the F1 heap

Speculation had Wolff stepping aside or even retiring, but he's up for the challenge to get both Hamilton and Russell back into victory lane and earn more championships

Mercedes boss Toto Wolff inked a new three-year deal earlier this week to stay with the Silver Arrows and push for another championship.

After talking with INEOS boss (and new Manchester United part owner) Sir Jim Ratcliffe, along with Mercedes Chairman Ola Kallenius, all parties decided an extension for Wolff was the best option for Mercedes' present and future.

The organization also announced it has extended the contract of technical director James Allison, believed to be three years as well. With Wolff and Allison locked in, it gives the organization a strong 1-2 punch that can potentially bring it back from semi-mediocrity the last few seasons.

Considering the current position Mercedes is in, "trust" was the biggest factor in resigning Wolff.

After the previous three seasons, questions had to be asked about the commitment to the future for both Wolff and Lewis Hamilton, who at 38 is in the closing years of his illustrious career.

Wolff wants to make one thing clear about this extended partnership: "I'm staying at Mercedes to beat Red Bull with Hamilton," he told the U.K.'s The Telegraph.

We're not sure how George Russell feels about this, but we're sure Wolff would be happy if Russell brought home a trophy, as well.

"If we give Hamilton a good car that he can rely on, he can get back in front of everyone," Wolff said, a sentence that could also apply to Russell's fortunes in 2024 and beyond if Hamilton falls short of Mercedes' renewed expectations.

Mercedes has also invested in its pitstop equipment heading into 2024, giving Wolff even more motivation for these next few years. With investment, an all-British driver lineup and a newly inked team boss, Mercedes is ready for 2024 and the future.

At 52 years old and after a couple of lackluster -- by Mercedes' typical standards -- seasons, many expected Wolff to potentially take a break or even retire from the sport. But Wolff made it very clear he's not going anywhere.

"I'm not going to try and hang on to a position that I think somebody is going to do better than me at," he told The Telegraph. "I make sure I have people around who can tell me otherwise. In the end, the three of us decided to do it again."

The car has gone backwards in recent seasons. In 2022 Mercedes won just one race with Russell in Brazil and had 17 podiums compared to the 2021 constructors championship season where they had 28.

Compare that even to this year, when they went backwards even more and had just eight podiums and went the whole year without a win, something that hasn't happened in the Mercedes camp since 2011.

A new three-year deal for Wolff ensures the hope of a rise back in form for Mercedes, and a potential championship charge yet again. He -- and Mercedes fans around the world -- can only hope, right?