Mercedes Formula 1 boss Toto Wolff has revealed that there was a point towards the end of 2020 when he questioned whether he wanted to remain in the Team Principal role.
The Austrian, 52, has been at the helm of Mercedes since 2013, guiding the German marque to eight consecutive Constructors’ Championships between 2014 and 2021.
However, Mercedes’ crushing dominance came to an abrupt end upon an overhaul to the regulations in 2022, clinching only a solitary race victory in the past two seasons.
Despite the side’s recent struggles, Wolff has confirmed he has signed an extended three-year contract to continue heading Mercedes’ F1 operation until the end of 2026 at least.
But Wolff, who also holds a 33% stake in the team, has admitted that he pondered retaining that position at the conclusion of the Brackley squad’s last title double in 2020.
“I have long been a shareholder with a position on the board and that will not change with the role,” Wolff told Italian publication Gazzetta Dello Sport.
“I have been responsible for all Mercedes’ sporting activities for 11 years, in addition to my role as Mercedes’ team boss.
“Winning is the only return the shareholders want from their investments, and I am working to make that happen.
“I wouldn’t stay if I wasn’t sure I can give my maximum. There was a moment in 2020, after winning so many world titles, when I asked myself the question, a life question: do you want to stay in F1 or return to finance. I understood then that my place is here.”
Mercedes endured its first winless season since 2011 last term and ended up 454 points behind Red Bull, who won all but one race en route to secure both championships.
Wolff has reiterated that Mercedes has a “mountain to climb” to catch the reigning champions, but he also has a firm eye on the upcoming rules change arriving in 2026.
“The success of a team depends on the motivation and energy of individuals,” he explained. “A team is like a living organism that has to adapt to different circumstances.
“What we are doing now is forming an organisation that will get there.
“We have a mountain to climb, against Red Bull, Ferrari and McLaren, who are all strong, but the radar already says 2026.
“Sustainable fuel, and a totally different power unit and aerodynamic package. The most stimulating part is being part of a group in transformation to win again.”
Wolff, along with drivers Lewis Hamilton and George Russell, will be in attendance at Silverstone when Mercedes launch its 2024 challenger, the W15, on 14 February.
