Toto Wolff has revealed he considered retiring from Formula 1 in 2020 before changing his mind and staying in the sport.
Wolff took over at Mercedes in 2013 and has led them to unmatched success, winning eight consecutive constructors' titles and seven drivers’ championships from 2014 to 2020.
Wolff owns a 33 per cent share of the Mercedes team, sharing joint ownership with Mercedes-Benz Group AG and INEOS.
However, the Austrian revealed: “In 2020, I really wanted to retire. My original plan was that I wouldn't mess around with race cars anymore when I was 50, because by then I'd become an adult.
Toto Wolff has admitted he considered retiring from the sport in 2020
|PA
“But then I came to the conclusion that that's my niche, racing and the business side of it. At some point, I said to myself: 'Okay, this is my niche, I'm going to continue doing this'.
“And I'm going to forget everything I did before, because I also enjoyed venture capital. I made that decision for myself in 2020.”
Since 2021, Mercedes has struggled to recreate the same form. Lewis Hamilton lost in the final race of the 2021 season in controversial fashion to Red Bull’s Max Verstappen, with the following season’s regulations change ruling the Brackley-based team out of contention, since the change to the ground effect era, Mercedes have only won six races.
JUST IN: Ruben Amorim's players 'losing faith' in Manchester United boss after humiliating derby loss
Wolff was then questioned about whether he still wanted to retire, and he continued: “I'm enjoying it at the moment, I want to continue.
“At least until the team starts winning again, I still see myself as the executive team boss.
“Especially since I'm in the privileged position of having to fire myself.
“Once I'm no longer the team boss, I can be CEO or chairman, or move to the supervisory board, in agreement with the other shareholders,” he told motorsport-total.
**SIGN UP FOR OUR FREE DAILY GB NEWS SPORTS NEWSLETTER HERE**
Toto Wolff believes Lewis Hamilton's time at Ferrari will not tarnish his impressive legacy
|PA
Since Hamilton made the shock move to Ferrari, Wolff and the seven-time champion have maintained a good relationship; however, he boldly claimed that no one will remember Hamilton’s time at Ferrari.
The Briton has been struggling to get to grips with the new machinery after spending 12 years with the Mercedes team, and is yet to score a podium in red.
But Wolff is sure no one will remember the struggles Hamilton has had at Ferrari, as his legacy within the sport is safe.
LATEST SPORTS NEWS:
He insisted that the 40-year-old is going to be fine.
“He is going to retire [and] nobody is going to ever know that he was at Ferrari at the end,” he said.
“Who thinks about the [Michael] Schumacher and Mercedes time? That is not relevant for Schumacher's career.”
The future for Mercedes is still uncertain as there will be another big regulation change for the 2026 season, where rumours believe that the Mercedes power unit may be the best on the grid by a long way, but Mercedes has yet to tie down their driver line-up for next year.
George Russell still does not have a contract for 2026, as the team stalled his negotiations to see if they could sign Max Verstappen, who was believed to have an exit clause in his contract, but after the Dutchman committed his future to Red Bull, talks have now reopened with the Briton.
George Russell is still waiting for a new contract with Mercedes
|PA
While Russell is very likely to sign a new contract with the Silver Arrows, there are a lot of questions about who will be in the second seat.
Andrea Kimi Antonelli currently holds the second seat at Mercedes, but the 18-year-old has had a less-than-ideal start for Mercedes, with constant crashes and incidents hampering the progress of the Italian.
He will be hoping to bounce back when F1 takes to the streets of Baku for the Azerbaijan Grand Prix this weekend.