Mercedes team boss Toto Wolff has outlined how the business side of running the team will be handled following Lewis Hamilton's departure.
Hamilton's decision to move to Ferrari in 2025 marks the end of more than a decade of partnership with Mercedes, in which he has won six of his seven world championships with the constructor.
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With Hamilton holding the most world titles, wins, pole positions and podiums in F1 history, it is clear that F1 will not only lose statistically the greatest F1 driver of all time, but also one of its most profitable, whose fame and personal brand brought huge financial benefits to teams.
Wolff, who has worked with the British driver since the pair joined Mercedes in 2013, revealed how the team plans to move forward in his absence.
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Wolff: Mercedes must adapt without Hamilton
When asked by CNBC if Hamilton's departure would mean Mercedes would suffer from lost sponsorship and merchandise sales, the Austrian replied: “Of course. Lewis is more than just a racing driver. He's a global phenomenon.”
“And if you take a quick look, you can see that there’s a bit missing from number 24 onwards, that’s where it’s missing.
“But an F1 team like Mercedes needs to have its own identity and it will always have that in the future.”
“We hope to be involved in the careers of many young and successful drivers in the future.
“And we will look back with warmth on how amazing this journey has been and how we have grown together.”
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Wolff also revealed what he had told the team's other major brand partners about the team's future without the seven-time champion.
“I think Lewis Hamilton and Mercedes are basically the same story because we've been together for 12 years,” he added.
“But the team, we will still be the same shareholders and I will still run it.
“There’s some very exciting stuff happening… George Russell was basically neck and neck with Lewis last year.
“So you just have to adapt. Our sport, like any business, is about adaptability. And that's a lesson I've avoided when talking about high performance and management under pressure.”
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