Toto Wolff confirms Mercedes set for huge financial blow because of Lewis Hamilton | F1 | Sport

Mercedes boss Toto Wolff has acknowledged that Lewis Hamilton leaving the team in 2025 is set to come with negative financial implications. The seven-time world champion has agreed a multi-year contract at Ferrari in a bid to round off his career with an elusive eighth Drivers’ Championship.

Hamilton’s pre-agreed move to the Prancing Horse, which will see him drive for the team from 2025 onwards, saw the Scuderia’s value rocket by a whopping ¬£5.5billion.

The Brit’s global fame and legendary F1 status is set to draw fresh eyes towards the sport when he makes the switch, which will call time on a successful 12-year spell at Mercedes. Hamilton has won six of his seven world titles with the Silver Arrows and the vast majority of his 103 Grand Prix victories.

Mercedes are yet to snap up Hamilton’s successor, but in the same way Ferrari’s share price boomed, theirs is at risk of dropping due to the loss of the 39-year-old’s huge commercial value.

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.

Wolff has not committed to pursuing either another big name with commercial value, such as Fernando Alonso or Sebastian Vettel, or a hungry up-and-comer to slot in alongside current Mercedes star George Russell.

The Silver Arrows have important matters to attend to amid a backdrop of speculation around Hamilton’s successor,¬†with pre-season testing in Bahrain set to get underway later this month.

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